Mohegan Sun cracks the jackpot for credit transactions of 1.4 billion
The Mohegan Tribal Gaming Authority paid back $ 615 million in debt in October under new loan agreements of $ 1.4 billion.
At the end of last year, the debt triggered a “going concern” warning of possible bankruptcy if it could not be refinanced.
Mohegan Sun Casino Resort in east Connecticut has yet to resume operations at full capacity during the COVID-19 pandemic. The Mohegan Tribal Gaming Authority reported a loss of $ 162 million for 2020.
Mohegan Sun, along with nearby Foxwoods Resort Casino, is one of the three largest casinos in the United States.

Mohegan Sun President Jeff Hamilton (left) and Mohegan Tribal Council Chairman James Gessner Jr. in front of a hotel elevator last year.
Joe Amarante / Hearst CT MediaMohegan Sun and Foxwoods make an important contribution to the state economy through revenue contributions from their slot machine revenues. The venues also help boost tourism to Mystic and other nearby attractions.
The Connecticut General Assembly is now considering a possible extension of betting on online games and sports betting, with Senator Dennis Bradley, D-23rd, revive a boost this week for the state to approve a Bridgeport casino under tribal operation.
Speaking to members of the Connecticut General Assembly during a virtual hearing, Mohegan Gaming & Entertainment, director of interactive games, noted that the organization has experience of sports betting in New Jersey and Pennsylvania and plans to launch it in Nevada this spring .
Mohegan Sun is now offering Super Bowl weekend getaway packages – but without the added benefit of sports betting, which could attract more people interested in betting.
“We really see ‘iGaming’ and online sports betting as a brand to bring players to our physical facilities.” [resorts]“Avrim Alroy, vice president of interactive games, said Tuesday during the legislature hearing. “What people were initially afraid of was that there would be cannibalization (of) online from brick-and-mortar retail. What actually happened is the opposite – people are more engaged online and therefore more interested in coming and visiting. “
While Mohegan Sun continues to enjoy active patronage – it posted a daily slot payout of $ 1.9 million early Wednesday afternoon and was growing rapidly – it continues to postpone some tourist events that are looming on the calendar, including the popular one Sun Wine & Food Fest. This despite extensive investments to minimize the risk of transmission of COVID-19, whether visible such as ongoing cleaning or preventive measures in the background such as testing employees and tracking contacts in the event of positive tests.
“We have infrared scans so you never know you’re going to have your temperature checked,” said Jeff Hamilton, general manager of Mohegan Sun in Uncasville. “Over 150 units … dispense disinfectant wipes to give our customers the ability to wipe anything they come in contact with, knowing they know it is clean when you have cleaned it and not from other people depend on have cleaned it before you touch it. “
Citizens Bank and US Bank were administrators for the new loan packages. Providence residents arranged the two 2016 debt packages due in October.
Under a “Bankruptcy Matters” section of its agreement, Citizens lenders claim precedence over the Mohegan tribe for all payments in the event of future bankruptcy and forbid the Mohegan Tribal Gaming Authority to challenge the provision in court.
“The recovery in travel and hospitality spending will depend on the timing and effectiveness of vaccinations and changes in consumer behavior and business activity,” said Andrew Cecere, CEO of the US bank, during a conference call with investment analysts last week. “The most important thing we all think about is how the government’s incentives and actions – as well as some of the banks’ indulgence plans – will help us return to a normal economic recovery.”
Includes previous coverage by Ken Dixon and Dan Haar.
Alex. [email protected]; 203-842-2545; @casoulman