Net revenue for the Uncasville casino's parent, the Mohegan Tribal Gaming Authority, which also operates Mohegan Sun at Pocono Downs in Wilkes-Barre, Pa., fell 3.5 percent to $1.29 billion. Mohegan Sun's net revenue fell to $995.1 million in fiscal 2014, down 4.5 percent over fiscal 2013's $1.04 billion. 'These matters raise substantial doubt about the Enterprise's ability to continue as a going concern,' the auditors wrote.Īnnual reports posted online in recent days show revenues at both of Connecticut's Indian casinos - Foxwoods and Mohegan Sun - continued to decline sharply in the last fiscal year.įoxwoods, which posted its report on the website of the Electronic Municipal Markets Access system, reported that its net revenue for the year totaled $960.1 million, a 7.7 percent drop over the previous year's $1.04 billion. If the agreement is not extended beyond its current expiration date and the lenders 'were to exercise certain default-related remedies, those circumstances would negatively impact the operations of the Enterprise,' Deloitte & Touche LLP, the firm that audited Foxwoods' financial statements, wrote in a letter to the Mashantucket Pequot Tribal Council, which oversees casino management. 30.ĭuring the year, Foxwoods, owned by the Mashantucket Pequot Tribe, defaulted on the terms of a $1.7 billion debt-restructuring and subsequently struck a 'forbearance agreement' with its senior lenders that expires June 30, 2015. Foxwoods Resort Casino's current financial straits 'raise substantial doubt' about its future operations, auditors wrote in the casino's annual report for the 2014 fiscal year, which ended Sept.

Foxwoods casino financial statements