The Mohegan Tribe reported a 2.5 percent increase in profits at its casino in Connecticut but saw declines overall in its gaming enterprise.
Mohegan Sun earned $48.1 million in the quarter that ended December 31, 2012, up from $49.9 million for the same period in 2011. The increase was attributed to reduction in costs, which included a round of more than 300 layoffs last fall. But overall, the Mohegan Sun Tribal Gaming Authority saw a net income fall 62.1 percent. Net revenue dropped 7.7 percent. "The results for the quarter are reflective of our ongoing efforts to streamline our operations given the decline in business volumes at both of our properties," CEO Mitchell Grossinger Etess said in a press release. The tribe also operates a commercial casino in Pennsylvania. Get the Story: