THE REAL FIGURES ???

THE MOHEGAN TRIBAL GAMING AUTHORITY, (MTGA, THE MOHEGAN TRIBAL COUNCIL) ISSUED A FINANCIAL REPORT ON ITS BUSINESSES FOR THE LAST QUARTER (JULY 1, 2008 TO SEPTEMBER 30, 2008. THE MTGA OWNS THE MOHEGAN SUN CASINO ((IN CONNECTICUT) AND MOHEGAN SUN AT POCONO DOWNS (PENNSYLVANIA).

COMPARING SLOT REVENUES FOR THE MOHEGAN SUN (CONNECTICUT) FOR THE LAST THREE YEARS FOR THE MONTH OF OCTOBER, THE NUMBERS ARE: 1) OCTOBER, 2006 WAS $74.3 MILLION, 2) OCTOBER, 2007 WAS $71.9 MILLION AND 3) OCTOBER, 2008 IS $65.4 MILLION. THE NEWS MEDIA PRINTED WE WERE DOWN 7.9% THIS OCTOBER FROM LAST OCTOBER (2008 COMPARED TO 2007).

WHAT WAS NOT TAKEN INTO CONSIDERATION WAS THAT WE HAD A LOSS (DEFICIT) FROM OCTOBER 2007 FROM OCTOBER 2006. THE TOTAL DECREASE IN BUSINESS BETWEEN OCTOBER, 2008 AND OCTOBER, 2006 WAS ABOUT 12%. THE MOHEGAN SUN IS NOW HAVING DECREASES ON TOP OF DECREASES.

ON THE REPORT ABOUT THE MOHEGAN SUN AT POCONO DOWNS, EBITDA FOR THE FISCAL YEAR 2008 WAS $29.8 MILLION ($29,800,000.00). THIS FIGURE IS BEFORE INTEREST IS PAID ON THE LOANS THAT THE CASINO HAS.


THE TOTAL INVESTED IN THE POCONO DOWNS PROJECT IS SOMEWHERE BETWEEN AN ESTIMATED $550 MILLION AND $625 MILLION. WE HAVE BEEN TOLD THE INTEREST RATE IS IN THE NEIGHBORHOOD OF SIX AND THREE QUARTER PERCENT (6.75%). IF YOU DO THE INTEREST ON LOANS TOTALLING BETWEEN $550 AND $600 MILLION AT BETWEEN 6% AND 8%, THE TOTAL INTEREST IS SOMEWHERE BETWEEN $33 MILLION AND $48 MILLION. IN MY OPINION, THERE IS NO WAY THAT THE $29.8 MILLION IS PAYING THE INTEREST OWED FOR THE 2008 FISCAL YEAR.

IN 2008, POCONO DOWNS EXPANDED AND OPENED ITS NEW SLOT PARLOR, INCREASING THE NUMBER OF SLOT MACHINES FROM ABOUT 1,200 TO ABOUT 2,500.

IN 2008 THE EBITDA WAS $29.8 MILLION. IN 2007, THE EBITDA WAS $30.2 MILLION.

THE DROP EBITDA FOR 2008 COMPARED TO 2007 WAS $591,000.00. THAT'S TWO YEARS IN A ROW OF DECREASES WITH A GREAT DEAL OF MONEY SPENT (THE EXPANSION).

EDITORIAL FOOTNOTE: PLEASE CHECK OUT THE FINANCIAL ANALISE AT THE FEATHER NEWS FOR GREATER DETAILS OF THE REPORT..