Connecticut tribes expect economic recovery

Thursday, November 20, 2008  

Connecticut's two tribes said they expect to recover from the economic downturn that has hurt their gaming revenues and credit ratings.

The Mashantucket Pequot Tribal Nation and the Mohegan Tribe have watched slot machine revenues dwindle over the past year. The ratings on their debts were just downgraded but officials are riding out the storm.

“The entire gaming industry is experiencing economic challenges and we are no different," a Pequot spokesperson told The New London Day. “There's a lot of softness in the industry, and our business has been slower than normal. We knew that. But we did halt an expansion project and we think our long-term prospects are very good," a Mohegan executive said.

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