Moody’s Investment Service Backs Mohegan Sun Purchase of Resorts Casino Hotel

HARTFORD, Conn. – (Associated Press) - A ratings agency says the deal in which Connecticut-based Mohegan Sun casino operators will manage Resorts Casino Hotel in Atlantic City could boost the Mohegan tribal authority's management venture.

Moody's Investors Service said Wednesday that to the extent the Mohegan Tribal Gaming Authority can improve the performance at Resorts and develop a successful track record in Atlantic City's challenging market, the deal could result in more management contract opportunities.

Moody's said the deal has no impact on the Mohegan authority's ratings.

If approved by regulators, Mohegan will become the first American Indian-run firm to expand into the established gambling destinations of Atlantic City and Las Vegas.

The tribal authority owns and operates casinos in Uncasville and Plains Township, Pa.