Business: Mohegan Tribe still in talks for $1.6B in casino debt

Tuesday, January 3, 2012  

"The outcome of Mohegan Sun’s debt talks and the possible tsunami it could deliver to Eastern Connecticut’s economy are far from certain but I could see why bankers would continue to back the tribe. The main reason is management knows how to squeeze expenses without most customers realizing it.

The Mohegan Tribal Gaming Authority, the casino’s parent entity, reported reducing labor and operating costs by $34 million in the year between when it cut 475 workers and Sept. 30, 2011. It shaved $9.5 million off overhead in just the fiscal fourth quarter alone and not one customer complaint sent to my email box about what it may have allegedly done to service."

Get the Story:
Business Blog: The big squeeze (The Norwich Bulletin 1/3)

Also Today:
Mohegans given more time in debt talks (The Norwich Bulletin 12/31)