Mitch Etess runs the Mohegan Tribal Gaming Authority, which owns the Mohegan Sun, but his bloodlines run through the borscht belt.
The Tribal Gaming Authority hopes to be part of a Catskills revival. After all, Etess literally grew up in the famed resort area as the grandson of matriarch Jennie Grossinger, of Grossinger's Hotel fame.
The Mohegan Sun is just part of the Tribal Gaming Authority's operations. Etess explained that it is "pursuing a regional, methodical growth strategy" for New York, Connecticut, Massachusetts and Pennsylvania. (New Jersey's Indian gambling licenses are limited to in-state tribes.)
The expansion plans may be aided by the authority's restructuring of its bank credit facilities and certain notes shortly before the end of its fiscal year, Sept. 30. On Nov. 20, the company announced net fourth-quarter revenues of $345.3 million.
In the Catskills, the Mohegan tribe is partnering with Westchester developer Louis R. Cappelli. They already have a design for a casino at the site of the Concord, another iconic resort.
The tribe will pursue a license for a casino there, one of up to seven additional casinos authorized by voters in the November elections.
Etess admits that the proliferation of gambling facilities in the Northeast creates competitive pressures, but he disagrees that the market has reached its saturation point.
"The market will seek its level," he maintains. He also believes that banks will restrain development so the overbuilding mistake made in Las Vegas stays in Las Vegas.
Mohegan Sun's adaptation to the competition is to position itself as a "destination" casino.
"We could not have better entertainment," says Etess, pointing to upcoming shows by Prince and star country group Lady Antebellum. Country music is a particularly big draw for the venue: cowboys working for Indians.
In addition to the $130 million spent on the Catskills project to date, the developers expect to spend another $370 million, and create 2,000 jobs during construction and 1,500 full-time equivalent jobs in the casino alone.
The state Gaming Commission does not yet have a timeline for proposals. While politicians support a fast process, "people have different definitions of fast," Etess noted.
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