The Mohegan Tribal Gaming Authority has under performed in the first quarter. Several factors could be contributed to the poor numbers. The Authority will now undergo a credit review.
The first quarter numbers of the Mohegan Tribal Gaming Authority have put up enough of a red flag that it is now time for a review of the Authorities credit rating. Moody’s Investors Service will be the company conducting the review.
The Mashantucket Pequot Tribe just had their credit rating downgraded a few months ago by a different rating service. If the Mohegans credit is downgraded, it could cause potential money problems for the group.
Slot revenue has been down in the first quarter. The main reason for the decline is the “free play” promotion that the casino has been running. The other reason for the number decline, can be attributed to the economy.
“The economy is definitely showing its impact on gaming. There are a number of gaming markets that are reporting January numbers that are generally exhibiting low single digit declines,” said Craig Parlamee, credit analyst from Standard & Poor’s rating service.
If the Mohegans have their credit rating reduced, it could become difficult for the group to secure a loan. The loans they would receive would come with high interest rates because of the risk involved.
New Zealand Takes Right Approach To Help Curb Problem Gambling
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New Zealand has taken the right approach in dealing with problem gambling. They have not denied the potential for problem, nor have they used it as a form of keeping the gambling industry down.
They simply have come up with innovative ways to deal with problem gambling. Ways that will not only curb the problem, but also will help keep people from becoming problem gamblers.
Think Tank is an organization that brings members of the gambling industry together to discuss different aspects of what is going on with the industry. Yearly, they meet, and each year they exchange ideas about varying subjects. This year, the organization will put on display how New Zealand has been an innovator in dealing with problem gambling.
“New Zealand has changed the way people think about gambling problems. It was the first country to provide nationwide problem gambling services and to adopt a public health approach,” said AUT University Professor Max Abbott.
AUT University is the organizer of Think Tank and is responsible for bringing all of these gaming giants together for this meeting yearly.
“A major purpose of the Think Tank is to reduce gambling related harm by improving gambling policy and services. This requires innovative thinking, sound research and buy in from governments, communities, and the gambling industry,” said Abbott.
Auckland will be the site of the International Think Tank on Presenting Gambling Populations and First Contact Services. It will be held February 18th and 19th.