THE MOHEGAN INDIAN TRIBE OF CONNECTICUT TRIED TO HELP THE MENOMINEES TO OPEN A CASINO IN WISCONSIN.
THE PROPOSED CASINO WAS TO BE LOCATED AT THE DAIRY LAND GREYHOUND PARK IN KENOSHA, WISCONSIN (HALF WAY BETWEEN CHICAGO AND MILWAUKEE). THE CASINO WOULD HAVE BEEN LOCATED ABOUT 200 MILES FROM THE MENOMINEE RESERVATION.
IN MY OPINION, THE MOHEGANS AND THE MENOMINEES TRIED TO HAVE THE UNITED STATES DEPARTMENT OF INTERIOR HOLD OFF THE FINAL DECISION ON THE PROPOSAL UNTIL THE NEW (OBAMA) ADMINISTRATION WERE TO TAKE OFFICE.
THE MOHEGANS HAVE INVESTED MILLIONS TO GET THIS PROJECT COMPLETED. THE MOHEGANS WERE GOING TO MANAGE THE CASINO. THE MENOMINEE HAVE SAID THEY WILL CONTINUE THE FIGHT. THE VENTURE IS DEAD. IT IS NOT GOING TO HAPPEN. MORE MONEY ILL-INVESTED BY THE MOHEGAN TRIBAL COUNCIL.
THIS IS ONE MORE CASE OF THE MOHEGAN TRIBAL GOVERNMENT INVESTING MONEY THAT DID NOT PAN OUT. WE (THE MOHEGAN TRIBE) INVESTED MILLIONS IN MOHEGAN SUN AT POCONO DOWNS. THE FACTS ARE THAT BEFORE THE PERMANENT FACILITY, POCONO DOWNS HAD EBIDTA OF $30 MILLION IN 2007. AFTER THE NEW FACILITY WAS BUILT THIS SUMMER (2008) THE EBIDTA FOR 2008 WAS $29 MILLION. ANOTHER INVESTMENT WITH LITTLE OR NO RETURN. WHAT ABOUT AQUA-CULTURE? WHAT ABOUT A GOVERNMENT BUILDING WE CAN NOT AFFORD?
HOW MANY BAD DEALS HAS THE MOHEGAN TRIBAL COUNCIL BEEN INVOLVED IN? SHOULD WE HOLD THE MOHEGAN TRIBAL COUNCIL RESPONSIBLE? MAYBE, IF CUTS ARE GOING TO COME TO THE MOHEGAN TRIBE, MAYBE THE TRIBAL COUNCIL SHOULD BE CUT FIRST? WHAT DO YOU THINK?
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2 comments:
I know you've mentioned it in other articles but ... just to repeat .. EBITDA is the earnings before interest, income taxes, depreciation and amortization. There are NO earnings AFTER deducting these expenses, especially interest expense on the debt. Just losses remain at Pocono after ALL expenes are deducted.
some of these projects were initiated by previous councils and perhaps this council was unable to get out of contractual agreements made by previous councils. just a thought. i agree that the communtity center should not be built as planned at this time.
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