ATLANTIC CITY

Here we go again. Atlantic City gambling revenues are down again. Let's look at Atlantic City Casinos' results and also the results at the Mohegan Sun Casino in Uncasville, Connecticut....

Linda Kassekert, Chairwoman of the New Jersey Casino Commission said, "Last year was a particularly challenging one for Atlantic City's casino inustry. The decline in revenues and gross operating profits reflect the decline in the overall economy as well as the continued incerase in competition from gaming operations in neighboring states."

The resluts weren't good. In fact they were horrible. The Atlantic City casinos had 48.8% in gross operating profits for the fourth quarter of 2008 compared to the fourth quarter of 2007. The gross operating revenues for 2008 was $940.9 million campared to $1.25 billion in 2007. That's $940.900,000.00 to $1,250,000,000.00. That's a decress of about $209 million ($209,000,000.00).

Gross operating profit represents earnings before interest, taxes, depreciation, amortization, charges from affilates and other noncash charges. This the formula is supposedly used to measure profitabily of casinos, industry wide in the United States.

Occupancy in the Atlantic City hotels was down to 87.8% for 2008 compared to 91.6% in 2007. However, there were an additional 2,500 rooms available in 2008 compared to 2007.

Kassekert said, "While the occupancy rate fell a bit, more people actually spent the night in casino hotels last year. The total number of occupied room nights increased by almost 213,000."

For 2008 slot machine winningsw were down 9.6% compared to 2007. Table games in Atlantic City were down about 3% comparing 2008 with 2007. Total gaming revenues were down about 7.6% for 2008 compared to 2007.

Let's look at slot wins in Connecticut for 2008. Foxwoods Resort Casino and MGM Grand Casino were down in slot winnings 7.1% for 2008 compared to 2007. The Mohegan Sun Casino was down 6.5% for the same period (comparing 2008 with 2007).

Atlantic City casinos had a terrible year in 2008. The MGM Grand at Foxwoods and Foxwoods Resort Casino had a terrible year in 2008. THE MOHEGAN SUN HAD A TERRIBLE YEAR IN 2008.

Yes, the additional competition had an effect. However, these new casino just didn;t open up over night. They were years into planning, and construction. Yes, the economy has something to do with it. Why didn't the MTGA (Mohegan Tribal Gaming Autrhority, the Mohegan Tribal Council) plan ahead for a slump in the economy? Was it poor palnning?

In my mind, the Mohegan Tribe, now finds itself in serious financial straights. The ultimate responsibility falls on the Mohegan Tribal Council. Who wanted to build a hotel we (the Mohgean Tribe) couldn't afford/ Who wanted to build and would again if things loosened up, staart building the government community center?

Harry Truman, when he was the President of the Unied States said, " The buck stops here." Ultimately what happens in the U. S. Government is the responsibility of the President. Shouldn't we apply the same standard to the Mohegan Tribal Council? Should we remember the mess we are in at election time? Should some of these people go? What do you think?.