When I was a young boy, going to school, I was taught that two plus two equals four. Is the MTGA (the Mohegan Tribal Gaming Authority, the Tribal Council) trying to make tribal members believe that two plus two equals five?
Here's the deal. Recently the State of Pennsylvania decided to allow the casinos (in the state) to have table games. Up until now the casinos only had slot machines.
The cost of the licensing fee is estimated to be about $16 Million ($16,000,000.00). It is estimated that the Mohegan Sun at Pocono Downs to get the table games up and running will cost about another $50 Million ($50,000,000.00). The possible time line to have the table games up and running is between six and nine months.
HOW MUCH IS PENNSYLVANIA GOING TO GET IN TAXES FROM THE TABLE GAMES?
Where is this money coming from? Will the MTGA have to borrow that money? At what interest rate? Will it be about 11% to 12%? Why such a high interest rate? Could it be that the MTGA's credit is bad? Aren't they a CCC- rating? Isn't that level junk bonds?
How long will it take to get a profit from the additional costs putting in the table games? Could it take years? Some tribal members believe that is the case,
Now the MTGA wants to open a hotel at Pocono Downs? Where is that money coming from? At what interest rate? Does the MTGA need a partner to build the hotel? Who is going to profit from this? Could it be the construction companies?
Until now, , I don't think Pocono Downs has ever produced any revenue. Does anyone know?
Do the numbers add up? Is it two plus two equals four or is it two plus tow equals five? Is the Mohegan Tribal Council reaching at straws to find revenues for the tribe? Are they doing desperate things? theWhat do you think?
THESE ARE THE THOUGHTS, IDEAS AND FACTS OF BROKENWING.