MTGA and Downs Racing Announce Grand Opening Date for Mohegan Sun at Pocono Downs
Wilkes-Barre, Pa., Oct. 9, 2006 – The Mohegan Tribal Gaming Authority (the Authority), and its subsidiary, Downs Racing, L.P. (know as Mohegan Sun at Pocono Downs), announced today official plans to be the first racetrack in Pennsylvania to open a casino. Officials announced that Tuesday, November 14th would be the grand opening date for the 1083 slots in the Phase I facility. This date is pending the receipt of all approvals by the Pennsylvania Gaming Control Board, which includes successful completion of two pre-opening test events.
“This is the culmination of a pledge to this region by the Mohegan Tribal Gaming Authority and our dedicated management team and staff,” said Robert Soper, Chief Executive Officer for the project. “We have hired over 400 people, including many local residents and there is overwhelming positive anticipation from the Northeast Pennsylvania region regarding our opening.”
Today also marked the arrival of the first slot machine in Pennsylvania history. A WMS Gaming slot machine was delivered and opened as part of an initial shipment of games.
Construction began on the first phase of the casino project in September of 2005. The facility’s old grandstand was removed to make way for some $70 million in improvements. A 40,000-square foot addition was included in the project.
Phase One of the casino project features two floors housing slot machines, a food court, bar and patio. An additional third floor will be used for office space.
An impressive variety of slot machines will have a ticket in/ticket out (TITO) system, making for a more efficient gaming experience. Gamers will have their choice of 500 reel games, 450 video machines and video poker. Denominations will range from 1/2-cent machines to $100 machines for the high rollers with plenty of options in between. There will also be a non-smoking section with 300 games.
Mohegan Sun at Pocono Downs previously announced plans for its future Phase II gaming and entertainment facility that will be developed on land adjacent to the initial gaming location. This future first class facility will include a 2,000 slot machine casino, as well as many other amenities, including restaurants, a 300 seat buffet, high quality food court, retail space, a nightclub and other nightlife amenities, expanded parking and bus amenities. Construction of this facility will commence after the receipt of a permanent slot license by the Pennsylvania Gaming Control Board.
About the Mohegan Tribal Gaming Authority
The Mohegan Tribal Gaming Authority (the “Authority”) is an instrumentality of the Mohegan Tribe of Indians of Connecticut, a federally recognized Indian tribe with an approximately 507-acre reservation situated in southeastern Connecticut, adjacent to Uncasville, Connecticut. The Authority has been granted the exclusive power to conduct and regulate gaming activities on the existing reservation of the Tribe, including the operation of Mohegan Sun, a gaming and entertainment complex that is situated on a 240-acre site on the Tribe’s reservation and, through its subsidiary, Downs Racing, owns and operates Mohegan Sun at Pocono Downs, a harness racetrack located in Plains Township, Pennsylvania and five OTW facilities located elsewhere in Pennsylvania. The Tribe’s gaming operation at Mohegan Sun is one of only two legally authorized gaming operations in New England offering traditional slot machines and table games. Mohegan Sun currently operates in an approximately 3.0 million square foot facility, which includes the Casino of the Earth, Casino of the Sky, the Shops at Mohegan Sun, a 10,000-seat Arena, a 350-seat Cabaret, meeting and convention space and an approximately 1,200-room luxury hotel. More information about the Authority and its properties can be obtained by visiting http://www.mtga.com.
Special Note Regarding Forward-Looking Statements
Some information included in this press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include information relating to business development activities, as well as capital spending, financing sources and the effects of regulation (including gaming and tax regulation) and increased competition. These statements can sometimes be identified by the use of forward-looking words such as “may,” “will,” “anticipate,” “estimate,” “expect,” “believe” or “intend” and similar expressions. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the Authority. These risks and uncertainties include, but are not limited to, those relating to increased competition (including the legalization or expansion of gaming in New England, New York, New Jersey and Pennsylvania), the financial performance of Mohegan Sun, Pocono Downs and the OTW facilities, dependence on existing management, potential adverse changes in local, regional, national or global economic climates, the Authority’s leverage and ability to meet its debt service obligations, changes in federal or state tax laws or the administration of such laws, changes in gaming laws or regulations (including the limitation, denial or suspension of licenses required under gaming laws and regulations), and the continued availability of financing. Additional information concerning potential factors that could affect the Authority’s financial results is included in its Annual Report on Form 10-K for the fiscal year ended September 30, 2005, as well as its other reports and filings with the SEC. The forward-looking statements included in this press release are made only as of the date of this release. The Authority does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Authority cannot assure you that projected results or events will be achieved or will occur.
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