NEW YORK— In a report on the gaming industry, Goldman Sachs analyst Steve Kent notes that the soon-to-be-opened expansion of the Mohegan Sun casino/resort in Connecticut “will place increased pressure on Atlantic City.” Mohegan Sun, owned by Sun International, in September is expanding its casino floor from 3,600 slot machines to 6,000. It’s also opening a new 1,200-room tower in April. All of these moves could draw business from the New York gaming market, said Goldman Sachs. The report also notes that Las Vegas may eventually see competition from Native American casinos that have recently opened in California. While those casinos are currently posing “little threat” to Las Vegas, “over time as these properties generate increased cash flow and legislation in the state eases, it is not hard to imagine some of the current CA properties turning into a Foxwoods type resort posing a greater risk to Las Vegas.” Foxwoods, the casino resort that opened in Connecticut prior to the Mohegan Sun, is now known as the largest casino in the world, said Goldman Sachs.
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