Document_and_Entity_Informatio
Document and Entity Information | 12 Months Ended |
Sep. 30, 2013 | |
Document Information [Line Items] | ' |
Document Type | 'S-4 |
Amendment Flag | 'false |
Document Period End Date | 30-Sep-13 |
Entity Registrant Name | 'MOHEGAN TRIBAL GAMING AUTHORITY |
Entity Central Index Key | '0001005276 |
Entity Filer Category | 'Non-accelerated Filer |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $63,624 | $114,084 |
Restricted cash | 13,757 | 47,865 |
Receivables, net | 26,142 | 26,556 |
Inventories | 13,990 | 14,438 |
Other current assets | 20,518 | 28,315 |
Total current assets | 138,031 | 231,258 |
Non-current assets: | ' | ' |
Property and equipment, net | 1,476,175 | 1,490,398 |
Goodwill | 39,459 | 39,459 |
Other intangible assets, net | 405,518 | 405,928 |
Other assets, net | 76,967 | 69,103 |
Total assets | 2,136,150 | 2,236,146 |
Current liabilities: | ' | ' |
Current portion of long-term debt | 25,219 | 19,787 |
Current portion of relinquishment liability | 62,947 | 63,312 |
Due to Mohegan Tribe | 6,308 | 9,950 |
Current portion of capital leases | 2,302 | 3,385 |
Trade payables | 10,531 | 12,674 |
Construction payables | 11,011 | 5,063 |
Accrued interest payable | 23,296 | 46,362 |
Other current liabilities | 123,982 | 149,980 |
Total current liabilities | 265,596 | 310,513 |
Non-current liabilities: | ' | ' |
Long-term debt, net of current portion | 1,628,173 | 1,629,003 |
Relinquishment liability, net of current portion | 11,418 | 57,470 |
Due to Mohegan Tribe, net of current portion | 23,420 | 21,500 |
Capital leases, net of current portion | 3,138 | 5,440 |
Other long-term liabilities | 5,020 | 2,957 |
Total liabilities | 1,936,765 | 2,026,883 |
Commitments and Contingencies | ' | ' |
Capital: | ' | ' |
Retained earnings | 199,236 | 208,681 |
Mohegan Tribal Gaming Authority capital | 199,236 | 208,681 |
Non-controlling interests | 149 | 582 |
Total capital | 199,385 | 209,263 |
Total liabilities and capital | $2,136,150 | $2,236,146 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Revenues: | ' | ' | ' |
Gaming | $1,190,202 | $1,254,558 | $1,289,656 |
Food and beverage | 86,251 | 92,149 | 91,072 |
Hotel | 40,873 | 39,609 | 35,892 |
Retail, entertainment and other | 118,559 | 112,194 | 110,568 |
Gross revenues | 1,435,885 | 1,498,510 | 1,527,188 |
Less-Promotional allowances | -95,857 | -99,197 | -108,809 |
Net revenues | 1,340,028 | 1,399,313 | 1,418,379 |
Operating costs and expenses: | ' | ' | ' |
Gaming | 708,929 | 771,909 | 790,451 |
Food and beverage | 41,575 | 44,949 | 41,515 |
Hotel | 14,339 | 14,293 | 12,996 |
Retail, entertainment and other | 43,859 | 40,723 | 34,846 |
Advertising, general and administrative | 192,673 | 198,171 | 201,992 |
Corporate | 28,122 | 17,379 | 16,704 |
Depreciation and amortization | 80,317 | 85,030 | 90,032 |
Loss on disposition of assets | 241 | 353 | 0 |
Severance | 29 | 12,521 | 244 |
Pre-opening | 687 | 0 | 0 |
Relinquishment liability reassessment | -249 | -11,439 | -8,805 |
Total operating costs and expenses | 1,110,522 | 1,173,889 | 1,179,975 |
Income (loss) from operations | 229,506 | 225,424 | 238,404 |
Other income (expense): | ' | ' | ' |
Accretion of discount to the relinquishment liability | -4,974 | -8,248 | -11,366 |
Interest income | 6,271 | 4,492 | 2,732 |
Interest expense, net of capitalized interest | -170,150 | -146,057 | -117,710 |
Loss on early exchange of debt and write-off of debt issuance costs | -11,516 | -14,326 | 0 |
Other expense, net | -1,595 | -44 | -217 |
Total other expense | -181,964 | -164,183 | -126,561 |
Net income (loss) | 47,542 | 61,241 | 111,843 |
Loss attributable to non-controlling interests | 2,784 | 2,019 | 2,134 |
Net income attributable to Mohegan Tribal Gaming Authority | $50,326 | $63,260 | $113,977 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN CAPITAL (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' |
Total capital at beginning of period | $209,263 | $198,724 | $132,044 |
Cumulative-effect of adoption of amendments to ASC 924 regarding jackpot liabilities | ' | 1,968 | ' |
Contributions from members | 0 | 280 | 1,887 |
Net income (loss) | 47,542 | 61,241 | 111,843 |
Distributions to Mohegan Tribe | -50,000 | -52,950 | -47,050 |
Repurchase of membership interest | -7,420 | 0 | 0 |
Total capital at end of period | 199,385 | 209,263 | 198,724 |
Mohegan Tribal Gaming Authority | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' |
Total capital at beginning of period | 208,681 | 196,403 | 129,476 |
Cumulative-effect of adoption of amendments to ASC 924 regarding jackpot liabilities | ' | 1,968 | ' |
Contributions from members | ' | 0 | 0 |
Net income (loss) | 50,326 | 63,260 | 113,977 |
Distributions to Mohegan Tribe | -50,000 | -52,950 | -47,050 |
Repurchase of membership interest | -9,771 | ' | ' |
Total capital at end of period | 199,236 | 208,681 | 196,403 |
Non-controlling Interests | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' |
Total capital at beginning of period | 582 | 2,321 | 2,568 |
Cumulative-effect of adoption of amendments to ASC 924 regarding jackpot liabilities | ' | 0 | ' |
Contributions from members | ' | 280 | 1,887 |
Net income (loss) | -2,784 | -2,019 | -2,134 |
Distributions to Mohegan Tribe | 0 | 0 | 0 |
Repurchase of membership interest | 2,351 | ' | ' |
Total capital at end of period | $149 | $582 | $2,321 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Cash flows provided by (used in) operating activities: | ' | ' | ' |
Net income | $47,542 | $61,241 | $111,843 |
Adjustments to reconcile net income to net cash flows provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 80,317 | 85,030 | 90,032 |
Relinquishment liability reassessment | -249 | -11,439 | -8,805 |
Accretion of discount to the relinquishment liability | 4,974 | 8,248 | 11,366 |
Cash paid for accretion of discount to the relinquishment liability | -5,792 | -9,028 | -12,381 |
Payment of tender offer costs | -3,104 | 0 | 0 |
Loss on early exchange of debt and write-off of debt issuance costs | 4,531 | 14,326 | 0 |
Amortization of debt issuance costs and accretion of bond discounts | 12,285 | 9,987 | 7,811 |
Amortization of net deferred gain on settlement of derivative instruments | -76 | -255 | -467 |
Provision for losses on receivables | 3,436 | 3,189 | 3,128 |
Loss on disposition of assets | 241 | 353 | 241 |
Loss from unconsolidated affiliates | 1,553 | 0 | 0 |
Changes in operating assets and liabilities: | ' | ' | ' |
(Increase) decrease in receivables | -648 | -7,676 | 1,470 |
(Increase) decrease in inventories | 448 | -410 | 491 |
(Increase) decrease in other assets | 2,759 | -4,859 | -4,804 |
Decrease in trade payables | -2,143 | -4,778 | -823 |
Increase (decrease) in accrued interest | -23,066 | 17,782 | 1,731 |
Increase (decrease) in other liabilities | -20,057 | 15,286 | -6,555 |
Net cash flows provided by operating activities | 102,951 | 176,997 | 194,278 |
Cash flows provided by (used in) investing activities: | ' | ' | ' |
Purchases of property and equipment, net of increase (decrease) in construction payables of $5,948, $(3,829) and $(5,516), respectively | -59,597 | -47,471 | -51,993 |
Issuance of third-party loans and advances | -2,033 | -923 | -748 |
Payments received on third-party loans | 139 | 146 | 250 |
(Increase) decrease in restricted cash, net | 33,078 | -45,231 | 106 |
Proceeds from asset sales | 216 | 143 | 208 |
Investments in unconsolidated affiliates | -4,971 | 0 | 0 |
Proceeds from Commonwealth of Pennsylvania's facility improvement grant | 0 | 2,000 | 0 |
Net cash flows provided by (used in) investing activities | -33,168 | -91,336 | -52,177 |
Cash flows provided by (used in) financing activities: | ' | ' | ' |
Bank Credit Facility borrowings-revolving loan | 3,000 | 154,000 | 431,000 |
Bank Credit Facility repayments-revolving loan | -3,000 | -289,000 | -423,000 |
Bank Credit Facility repayments-term loan | -4,000 | -3,000 | 0 |
Term Loan Facility borrowings, net of discount | 0 | 220,500 | 0 |
Line of Credit borrowings | 24,897 | 225,215 | 525,913 |
Line of Credit repayments | -24,897 | -225,215 | -533,300 |
Borrowings from Mohegan Tribe | 0 | 20,600 | 850 |
Repayments to Mohegan Tribe | -9,950 | 0 | 0 |
Proceeds from issuance of Senior Unsecured Notes | 500,000 | 0 | 0 |
Repayments of other long-term debt | -495,601 | -66,454 | -3,010 |
Salishan-Mohegan Bank Credit Facility borrowings-revolving loan | 0 | 0 | 250 |
Salishan-Mohegan Bank Credit Facility repayments-revolving loan | 0 | -15,250 | 0 |
Downs Lodging Credit Facility borrowings-term loan | 0 | 45,000 | 0 |
Principal portion of relinquishment liability payments | -45,350 | -45,258 | -42,644 |
Distributions to Mohegan Tribe | -50,000 | -52,950 | -47,050 |
Payments of financing fees | -11,957 | -51,513 | -4,032 |
Payments on capital lease obligations | -3,385 | -706 | -688 |
Non-controlling interest contributions | 0 | 280 | 1,887 |
Net cash flows provided by (used in) financing activities | -120,243 | -83,751 | -93,824 |
Net increase (decrease) in cash and cash equivalents | -50,460 | 1,910 | 48,277 |
Cash and cash equivalents at beginning of year | 114,084 | 112,174 | 63,897 |
Cash and cash equivalents at end of year | 63,624 | 114,084 | 112,174 |
Supplemental disclosures: | ' | ' | ' |
Cash paid during the year for interest | 180,657 | 118,225 | 108,635 |
Capital lease | 0 | 4,189 | 0 |
Repurchase of membership interest | $7,420 | $0 | $0 |
CONSOLIDATED_STATEMENTS_OF_CAS1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Condensed Consolidated Statements of Cash Flows Parenthetical [Abstract] | ' | ' | ' |
Decrease in construction payables | $5,948 | ($3,829) | ($5,516) |
Organization
Organization | 12 Months Ended |
Sep. 30, 2013 | |
Organization | ' |
NOTE 1—ORGANIZATION: | |
The Mohegan Tribe of Indians of Connecticut (the “Mohegan Tribe” or the “Tribe”) established the Mohegan Tribal Gaming Authority (the “Authority”) in July 1995 with the exclusive authority to conduct and regulate gaming activities for the Tribe on Tribal lands and the non-exclusive authority to conduct such activities elsewhere. The Tribe is a federally-recognized Indian tribe with an approximately 544-acre reservation situated in Southeastern Connecticut, adjacent to Uncasville, Connecticut. Under the Indian Gaming Regulatory Act of 1988 (“IGRA”), federally-recognized Indian tribes are permitted to conduct full-scale casino gaming operations on tribal lands, subject to, among other things, the negotiation of a compact with the affected state. The Tribe and the State of Connecticut entered into a compact (the “Mohegan Compact”), which was approved by the United States Secretary of the Interior. The Authority is primarily engaged in the ownership, operation and development of gaming facilities. In October 1996, the Authority opened Mohegan Sun, a gaming and entertainment complex situated on a 185-acre site on the Tribe’s reservation. The Authority is governed by a nine-member Management Board, whose members also comprise the Mohegan Tribal Council, the governing body of the Tribe. Any change in the composition of the Mohegan Tribal Council results in a corresponding change in the Authority’s Management Board. | |
As of September 30, 2013, the following subsidiaries were wholly-owned by the Authority: Mohegan Basketball Club, LLC (“MBC”), Mohegan Golf, LLC (“Mohegan Golf”), Mohegan Commercial Ventures-PA, LLC (“MCV-PA”), Mohegan Ventures-Northwest, LLC (“Mohegan Ventures-NW”), Mohegan Ventures Wisconsin, LLC (“MVW”), MTGA Gaming, LLC (“MTGA Gaming”), Downs Lodging, LLC (“Downs Lodging”) and Mohegan Gaming Advisors, LLC (“Mohegan Gaming Advisors”). | |
MBC owns and operates the Connecticut Sun, a professional basketball team in the Women’s National Basketball Association (the “WNBA”). MBC currently owns a 4.2% membership interest in WNBA, LLC. | |
Mohegan Golf owns and operates the Mohegan Sun Country Club at Pautipaug golf course in Southeastern Connecticut. | |
MCV-PA holds a 0.01% general partnership interest in each of Downs Racing, L.P., Backside, L.P., Mill Creek Land, L.P. and Northeast Concessions, L.P. (collectively, along with MCV-PA, the “Pocono Downs Subsidiaries”), while the Authority holds the remaining 99.99% limited partnership interest in each entity. Downs Racing, L.P. (“Downs Racing”) owns and operates Mohegan Sun at Pocono Downs, a gaming and entertainment facility situated on a 400-acre site in Plains Township, Pennsylvania, and several off-track wagering facilities located elsewhere in Pennsylvania (collectively, the “Pennsylvania Facilities”). The Authority views Mohegan Sun and the Pennsylvania Facilities as two separate operating segments. | |
Mohegan Ventures-NW and the Tribe hold 49.15% and 9.85% membership interests in Salishan-Mohegan, LLC (“Salishan-Mohegan”), respectively. Salishan-Mohegan was formed with an unrelated third-party to participate in the development and management of a proposed casino to be owned by the federally-recognized Cowlitz Indian Tribe of Washington (the “Cowlitz Tribe”) and to be located in Clark County, Washington (the “Cowlitz Project”). Salishan-Mohegan holds a 100% membership interest in Salishan-Mohegan Two, LLC (“Salishan-Mohegan Two”), which was formed to acquire certain property related to the Cowlitz Project. | |
MVW holds a 100% membership interest in Wisconsin Tribal Gaming, LLC (“WTG”), which was formed to participate in the development of a proposed casino to be owned by the federally-recognized Menominee Indian Tribe of Wisconsin (the “Menominee Tribe”) and to be located in Kenosha, Wisconsin (the “Menominee Project”). | |
Prior to March 2013, MTGA Gaming and the Tribe held 49% and 51% membership interests in Mohegan Gaming & Hospitality, LLC (“MG&H”), an unrestricted subsidiary of the Authority, respectively. On March 29, 2013, MG&H purchased and acquired all of the Tribe’s membership interests in MG&H and retired the membership interests. Accordingly, MTGA Gaming now holds a 100% membership interest in MG&H, which has been designated as an unrestricted subsidiary of the Authority. MG&H holds a 100% membership interest in Mohegan Resorts, LLC (“Mohegan Resorts”). Mohegan Resorts holds a 100% membership interest in Mohegan Resorts Mass, LLC, which was formed to pursue potential gaming opportunities in the Commonwealth of Massachusetts. Mohegan Resorts also holds 100% membership interests in Mohegan Resorts New York, LLC and Mohegan Gaming New York, LLC (collectively, the “Mohegan New York Entities”). The Mohegan New York Entities were formed to pursue potential gaming opportunities in the State of New York. | |
Downs Lodging, an unrestricted subsidiary of the Authority, was formed to develop, finance and build Project Sunlight, a hotel and convention center to be located at Mohegan Sun at Pocono Downs. | |
Mohegan Gaming Advisors, an unrestricted subsidiary of the Authority, was formed to pursue gaming opportunities outside the State of Connecticut, including management contracts and consulting agreements for casino and entertainment properties in the United States. Mohegan Gaming Advisors holds 100% membership interests in MGA Holding NJ, LLC and MGA Gaming NJ, LLC (collectively, the “Mohegan New Jersey Entities”). The Mohegan New Jersey Entities were formed to pursue management contracts and consulting agreements in the State of New Jersey. In October 2012, MGA Holding NJ, LLC acquired a 10% ownership interest in Resorts Casino Hotel in Atlantic City, New Jersey (“Resorts Atlantic City”). | |
Mohegan Gaming Advisors also holds 100% membership interests in MGA Holding MA, LLC and MGA Gaming MA, LLC (collectively, the “Mohegan MA Entities”). The Mohegan MA Entities were formed to pursue potential gaming opportunities in the Commonwealth of Massachusetts. | |
In addition, Mohegan Gaming Advisors holds 100% membership interests in MGA Holding PA, LLC and MGA Gaming PA, LLC (collectively, the “Mohegan PA Entities”). The Mohegan PA Entities were formed to pursue potential gaming opportunities in the Commonwealth of Pennsylvania. |
Basis_of_Presentation_and_Summ
Basis of Presentation and Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Basis of Presentation and Summary of Significant Accounting Policies | ' | ||||||||||||||||
NOTE 2—BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: | |||||||||||||||||
Principles of Consolidation | |||||||||||||||||
The accompanying consolidated financial statements include the accounts of the Authority and its majority and wholly-owned subsidiaries and entities. In accordance with authoritative guidance issued by the Financial Accounting Standards Board (the “FASB”) pertaining to consolidation of variable interest entities, the accounts of Salishan-Mohegan are consolidated into the accounts of Mohegan Ventures-NW, as Mohegan Ventures-NW is deemed to be the primary beneficiary. In addition, the accounts of MG&H, Mohegan Resorts and its subsidiaries were consolidated into the accounts of MTGA Gaming, as MTGA Gaming was deemed to be the primary beneficiary. However, on March 29, 2013, MG&H purchased and acquired all of the Tribe’s membership interests in MG&H and retired the membership interests (refer to Note 1). In consolidation, all intercompany balances and transactions were eliminated. | |||||||||||||||||
Revisions | |||||||||||||||||
The accompanying consolidated financial statements for fiscal year 2012 reflect an adjustment to correct an error in the classification of lender fees associated with the Authority’s March 2012 refinancing transactions. Fees paid to lenders or on behalf of lenders should be reflected as a reduction to the debt proceeds. However, the Authority previously recorded these fees as debt issuance costs within other assets, net. The Authority concluded that this error was not material to its previously issued consolidated financial statements. The effect of this adjustment to the accompanying consolidated balance sheet as of September 30, 2012 was a $17.6 million decrease in other assets, net and long-term debt, net of current portion. The accompanying supplemental condensed consolidating financial statements within Note 16 also have been revised to reflect this adjustment. | |||||||||||||||||
The Authority recorded an adjustment to correct an error in the classification of its 2004 7 1⁄8% Senior Subordinated Notes due 2014 as of September 30, 2013, which was incorrectly reflected as long-term debt in the previously reported September 30, 2013 balance sheet. The Authority correctly disclosed current debt in the debt maturities table accompanying Note 6, however, inadvertently reflected these notes as long-term debt in the previously reported September 30, 2013 balance sheet. The effect of the revision on the September 30, 2013 balance sheet was a decrease to long-term debt, net of current portion, and an increase to current portion of long-term debt of $22.1 million. The supplemental condensed consolidating balance sheet within Note 16 also has been revised to reflect this adjustment. The Authority has concluded that this error was not material to the previously issued financial statements. | |||||||||||||||||
In addition, certain amounts in the accompanying consolidated financial statements for fiscal year 2012 and 2011 have been reclassified to conform to fiscal year 2013 presentation. | |||||||||||||||||
Use of Estimates | |||||||||||||||||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the Authority to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosures of contingent assets and liabilities. The most significant estimates included in the accompanying consolidated financial statements relate to reserves for doubtful accounts, asset valuation, the liabilities associated with self-insurance, unredeemed Momentum Dollars (formerly referred to as Player’s Club points) and relinquishment, contingencies and litigation. Actual results could differ from these estimates. | |||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||
Cash and cash equivalents consist of deposits that can be redeemed on demand and investments with original maturities of less than 90 days. Cash equivalents are carried at cost, which approximates market value. Cash and cash equivalents include all operating cash and in-house funds. | |||||||||||||||||
Restricted Cash | |||||||||||||||||
Restricted cash consists of deposits that are contractually restricted as to their withdrawal or use. Restricted cash primarily includes cash held by Downs Lodging which use is restricted to payments for construction expenditures in connection with Project Sunlight, including construction period interest and expenses. | |||||||||||||||||
Receivables | |||||||||||||||||
Accounts Receivable | |||||||||||||||||
Accounts receivable consists primarily of casino receivables, which represent credit extended to approved casino patrons, and hotel and other non-gaming receivables. The Authority maintains a reserve for doubtful collection, which is based on the Authority’s estimate of the probability that these receivables will be collected. The Authority assesses the adequacy of this reserve by continuously evaluating historical experience, creditworthiness of the related patron and all other available information. Future business or economic trends could affect the collectability of these receivables and the related reserve. | |||||||||||||||||
Long-Term Receivables | |||||||||||||||||
Long-term receivables consist primarily of receivables from affiliates and tenants and others. | |||||||||||||||||
Receivables from affiliates, which are included in other assets, net, in the accompanying consolidated balance sheets, consist primarily of reimbursable costs and expenses advanced by Salishan-Mohegan on behalf of the Cowlitz Tribe for the Cowlitz Project (refer to Note 12) and WTG on behalf of the Menominee Tribe for the Menominee Project (refer to Note 13). The Salishan-Mohegan receivables are payable upon: (1) the receipt of necessary financing for the development of the proposed casino, and (2) the related property being taken into trust by the United States Department of the Interior. Due to the uncertainty in the development of the Cowlitz Project, the Authority maintains a reserve for doubtful collection of the Salishan-Mohegan receivables, which is based on the Authority’s estimate of the probability that the receivables will be collected. The Authority assesses the reserve for doubtful collection of the Salishan-Mohegan receivables for adequacy on a quarterly basis. Future developments in the receipt of financing, the relevant land being taken into trust or other matters affecting the Cowlitz Project could affect the collectability of the Salishan-Mohegan receivables and the related reserve. The WTG receivables are fully reserved. The WTG receivables are payable upon the receipt of necessary financing for the development of the proposed casino, subject to certain conditions. | |||||||||||||||||
Receivables from tenants and others, which are primarily included in other assets, net, in the accompanying consolidated balance sheets, consist primarily of funds loaned to various tenants at Mohegan Sun and Mohegan Sun at Pocono Downs. Loan terms range up to twelve years, subject to renewals. The Authority maintains a reserve for doubtful collection of receivables from tenants, which is based on the Authority’s estimate of the probability that these receivables will be collected considering historical experience, creditworthiness of the related tenant and all other available information. | |||||||||||||||||
The following table presents a reconciliation of long-term receivables, including current portions, and the related reserves for doubtful collection of these long-term receivables (in thousands): | |||||||||||||||||
Long-Term Receivables | |||||||||||||||||
Affiliates | Tenants and Others | Total | |||||||||||||||
Balance, September 30, 2012 (1) | $ | 49,841 | $ | 3,533 | $ | 53,374 | |||||||||||
Additions: | |||||||||||||||||
Issuance of affiliate advances and tenant and other loans, including interest receivable | 7,941 | 136 | 8,077 | ||||||||||||||
Deductions: | |||||||||||||||||
Payments received | — | (139 | ) | (139 | ) | ||||||||||||
Balance, September 30, 2013 (1) | $ | 57,782 | $ | 3,530 | $ | 61,312 | |||||||||||
-1 | Includes interest receivable of $29.1 million and $22.9 million as of September 30, 2013 and 2012, respectively. The WTG receivables no longer accrue interest pursuant to a release and reimbursement agreement entered into in September 2010. | ||||||||||||||||
Reserves for Doubtful Collection of Long-Term Receivables | |||||||||||||||||
Affiliates | Tenants and Others | Total | |||||||||||||||
Balance, September 30, 2012 | $ | 21,807 | $ | 70 | $ | 21,877 | |||||||||||
Additions: | |||||||||||||||||
Charges to bad debt expense | 2,382 | — | 2,382 | ||||||||||||||
Deductions: | |||||||||||||||||
Adjustments | — | (9 | ) | (9 | ) | ||||||||||||
Balance, September 30, 2013 | $ | 24,189 | $ | 61 | $ | 24,250 | |||||||||||
Inventories | |||||||||||||||||
Inventories are stated at the lower of cost or market value and consist primarily of food and beverage, retail, hotel and operating supplies. Cost is determined using the average cost method. The Authority reduces the carrying value of slow-moving inventory to net realizable value, based on the Authority’s estimate of the amount of inventory that may not be utilized in future operations. Future business trends could affect the timely use of inventories. | |||||||||||||||||
Property and Equipment | |||||||||||||||||
Property and equipment are stated at cost. Depreciation is recognized over the estimated useful lives of the assets, other than land, on a straight-line basis. Leasehold improvements are amortized over the shorter of the lease terms or the estimated useful lives of the improvements. Estimated useful lives by asset categories are as follows: | |||||||||||||||||
Buildings and land improvements | 40 years | ||||||||||||||||
Furniture and equipment | 3 - 7 years | ||||||||||||||||
The costs of significant improvements are capitalized. Costs of normal repairs and maintenance are expensed as incurred. Gains or losses on disposition of property and equipment are reflected in the accompanying consolidated financial statements. | |||||||||||||||||
Property and equipment are assessed for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. If it is determined that the carrying amounts may not be recoverable based on current and future levels of income and cash flows, as well as other factors, an impairment loss will be recognized at such time. As of September 30, 2013 and 2012, the Authority assessed its property and equipment for impairment and determined that no impairment existed. | |||||||||||||||||
Capitalized Interest | |||||||||||||||||
Interest costs incurred in connection with major development and construction projects are capitalized and included in the cost of the related project. Under instances where no debt is directly incurred in connection with a project, interest is capitalized on amounts expended on the project utilizing the weighted-average interest cost of the Authority’s outstanding borrowings. Capitalization of interest ceases when a project is substantially completed or development activity is suspended for an extended period of time. | |||||||||||||||||
Goodwill | |||||||||||||||||
In accordance with authoritative guidance issued by the FASB pertaining to goodwill, the goodwill associated with the acquisition of the Pennsylvania Facilities is not subject to amortization, but is assessed at least annually for impairment by comparing its fair value to its carrying value. The fair value is determined utilizing an income approach based on projected discounted cash flows from the Pennsylvania Facilities, exclusive of capital expenditures requirements. If the carrying value of the goodwill exceeds its fair value, an impairment loss will be recognized to the extent that the carrying value of the goodwill exceeds its implied fair value. The income approach requires the Authority to make assumptions regarding future revenues and expenses, discount rates and the terminal value based on a market multiple of the Pennsylvania Facilities. As of September 30, 2013 and 2012, the Authority assessed the goodwill for impairment and determined that no impairment existed. If any of the following occurs, the goodwill may be impaired and subject to a non-cash write-down in a future period, which could have a material adverse impact on the accompanying consolidated financial statements: (1) if estimates of projected cash flows from the Pennsylvania Facilities are not met; (2) if the discount rate increases; (3) if terminal growth rates decrease; or (4) if market multiples decrease. | |||||||||||||||||
Other Intangible Assets | |||||||||||||||||
Intangible assets relate primarily to the Pennsylvania Facilities, Mohegan Sun, MBC and Mohegan Golf. | |||||||||||||||||
In connection with the acquisition of the Pennsylvania Facilities, the Authority recorded a slot machine license intangible asset of $214.0 million. In October 2006, a one-time slot machine license fee of $50.0 million was paid to the Pennsylvania Gaming Control Board (the “PGCB”) and added to the existing slot machine license intangible asset. In June 2010, a one-time table game certificate fee of $16.5 million was paid to the PGCB and classified as an intangible asset. The slot machine license and table game certificate intangible assets, with indefinite useful lives, are assessed as a single unit of accounting at least annually for impairment by comparing the fair value of the recorded assets to their carrying value. Their fair value is determined utilizing an income approach based on projected discounted cash flows from the Pennsylvania Facilities, exclusive of a required rate of return of all other assets and exclusive of capital expenditures requirements. If the carrying value exceeds the fair value, an impairment loss will be recognized to the extent that the carrying value exceeds the fair value. The income approach requires the Authority to make assumptions regarding future revenues and expenses, discount rates and the terminal value based on a perpetual growth rate of the Pennsylvania Facilities. As of September 30, 2013 and 2012, the Authority assessed the intangible assets for impairment and determined that no impairment existed. If any of the following occurs, the intangible assets may be impaired and subject to a non-cash write-down in a future period, which could have a material adverse impact on the accompanying consolidated financial statements: (1) if estimates of projected cash flows from the Pennsylvania Facilities are not met; (2) if the discount rate increases; or (3) if the terminal value decreases. | |||||||||||||||||
In connection with a relinquishment agreement (refer to Note 11), Trading Cove Associates (“TCA”) granted the Authority an exclusive, irrevocable, perpetual, world-wide and royalty-free license with respect to trademarks and other similar rights, including the “Mohegan Sun” name. The Mohegan Sun trademark intangible asset of $119.7 million is no longer subject to amortization, as it is deemed to have an indefinite useful life, and is assessed at least annually for impairment by comparing its fair value to its carrying value. The fair value is determined utilizing the income approach – relief from royalty method based on projected revenues from Mohegan Sun and Mohegan Sun at Pocono Downs. If the carrying value exceeds the fair value, an impairment loss will be recognized to the extent that the carrying value exceeds the fair value. The income approach requires the Authority to make assumptions regarding future revenues, discount rates, royalty rate and the terminal value based on a perpetual growth rate of Mohegan Sun and Mohegan Sun at Pocono Downs. As of September 30, 2013 and 2012, the Authority assessed the Mohegan Sun trademark for impairment and determined that no impairment existed. If any of the following occurs, the Mohegan Sun trademark may be impaired and subject to a non-cash write-down in a future period, which could have a material adverse impact on the accompanying consolidated financial statements: (1) if estimates of projected cash flows from Mohegan Sun and Mohegan Sun at Pocono Downs are not met; (2) if the discount rate increases; or (3) if the perpetual growth rate decreases. | |||||||||||||||||
In connection with the acquisitions of the WNBA franchise and the assets of Pautipaug Country Club Inc., the Authority recorded a franchise value intangible asset and a membership intangible asset, respectively. These intangible assets, with definite useful lives, are assessed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. | |||||||||||||||||
Deferred Financing Costs | |||||||||||||||||
Debt issuance costs incurred in connection with the issuance of long-term debt are capitalized and amortized to interest expense based on the related debt agreements on a straight-line basis, which approximates the effective interest method. Unamortized amounts are included in other assets, net, in the accompanying consolidated balance sheets. | |||||||||||||||||
Self-insurance Accruals | |||||||||||||||||
The Authority is self-insured up to certain limits for costs associated with workers’ compensation, general liability and employee medical coverage. Insurance claims and reserves include accruals of estimated settlements of known claims, as well as accruals of estimates of incurred but not reported claims. These accruals are included in other current liabilities in the accompanying consolidated balance sheets. In estimating self-insurance accruals, the Authority considers historical loss experiences and expected levels of costs per claim. Claims are accounted for based on estimates of undiscounted claims, including claims incurred but not reported. The Authority believes that this method provides a consistent and effective way to measure these liabilities; however, changes in health care costs, accident frequency and severity and other factors could materially impact estimated liabilities. The Authority continuously monitors estimates and makes adjustments when necessary. | |||||||||||||||||
Unredeemed Momentum Dollars (formerly Player’s Club Points) | |||||||||||||||||
The Authority maintains an accrual for unredeemed Momentum Dollars (formerly referred to as Player’s Club points). This accrual is based on the estimated cost of Momentum Dollars expected to be redeemed as of the respective balance sheet date. The Authority assesses the adequacy of this accrual by periodically evaluating historical redemption experiences and projected trends related to the accrual. Actual results could differ from these estimates. | |||||||||||||||||
Base Jackpots | |||||||||||||||||
Base jackpots represent the fixed minimum amount of payouts from slot machines for a specific combination. The Authority recognizes base jackpots as reductions to revenues when it becomes obligated to pay such jackpots. | |||||||||||||||||
Relinquishment Liability | |||||||||||||||||
In accordance with authoritative guidance issued by the FASB pertaining to the accounting for contingencies, the Authority recorded a relinquishment liability based on the estimated present value of its obligations under a relinquishment agreement with TCA (refer to Note 11). The Authority reassesses projected revenues and consequently the relinquishment liability: (1) annually in conjunction with its budgeting process, or (2) when necessary to account for material increases or decreases in projected revenues over the relinquishment period. If the reassessment results in an overall increase in projected revenues over the relinquishment period, the relinquishment liability is increased by 5% of such increase in revenues, discounted at the Authority’s risk-free rate of investment, which is an incremental layer. If the reassessment results in an overall decrease to projected revenues over the relinquishment period, the relinquishment liability is decreased by 5% of such decrease in revenues, discounted on the basis of a weighted-average discount rate, which is a decremental layer. The weighted-average discount rate is defined as the average discount rate utilized to discount all previous incremental layers weighted by the amount of each incremental layer. In addition, the Authority recognizes a quarterly accretion to the relinquishment liability to reflect the impact of the time value of money. Since the calculation of this liability requires a high level of estimates and judgments (including those related to projected revenues and impact and timing of future competition), future events that affect such estimates and judgments may cause the actual liability to materially differ from the current estimate. | |||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||
The fair value amounts presented below are reported to satisfy disclosure requirements pursuant to authoritative guidance issued by the FASB pertaining to disclosures about fair values of financial instruments and are not necessarily indicative of amounts that the Authority could realize in a current market transaction. | |||||||||||||||||
The Authority applies the following fair value hierarchy, which prioritizes the inputs utilized to measure fair value into three levels: | |||||||||||||||||
• | Level 1—Quoted prices for identical assets or liabilities in active markets; | ||||||||||||||||
• | Level 2—Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets or valuations based on models where the significant inputs are observable or can be corroborated by observable market data; and | ||||||||||||||||
• | Level 3—Valuations based on models where the significant inputs are unobservable. The unobservable inputs reflect the Authority’s estimates or assumptions that market participants would utilize in pricing such assets or liabilities. | ||||||||||||||||
The Authority’s assessment of the significance of a particular input requires judgment and may affect the valuation of financial assets and liabilities and their placement within the fair value hierarchy. | |||||||||||||||||
The carrying amount of cash and cash equivalents, receivables, trade payables and promissory notes approximates fair value. The estimated fair value of the Authority’s financing facilities and notes were as follows (in thousands): | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
Carrying Value | Fair Value | ||||||||||||||||
Bank Credit Facility | $ | 393,000 | $ | 393,491 | |||||||||||||
Term Loan Facility | $ | 221,995 | $ | 229,781 | |||||||||||||
2009 11 1⁄2% Second Lien Senior Secured Notes | $ | 195 | $ | 225 | |||||||||||||
2012 11 1⁄2% Second Lien Senior Secured Notes | $ | 190,902 | $ | 225,025 | |||||||||||||
2013 9 3⁄4% Senior Unsecured Notes | $ | 500,000 | $ | 524,375 | |||||||||||||
2004 7 1⁄8% Senior Subordinated Notes | $ | 21,156 | $ | 20,812 | |||||||||||||
2005 6 7⁄8% Senior Subordinated Notes | $ | 9,654 | $ | 9,473 | |||||||||||||
2012 11% Senior Subordinated Notes | $ | 271,022 | $ | 272,438 | |||||||||||||
The estimated fair values of the Authority’s financing facilities and notes were based on Level 2 inputs (quoted market prices or prices of similar instruments) on or about September 30, 2013. | |||||||||||||||||
Revenue Recognition | |||||||||||||||||
The Authority recognizes gaming revenues as amounts wagered less prizes paid out. Revenues from food and beverage, hotel, retail, entertainment and other services are recognized at the time such service is performed. Minimum rental revenues are recognized on a straight-line basis over the terms of the related leases. Percentage rental revenues are recognized in the periods in which the tenants exceed their respective percentage rent thresholds. | |||||||||||||||||
Promotional Allowances | |||||||||||||||||
The Authority operates a program, without membership fees, for patrons at Mohegan Sun, Mohegan Sun at Pocono Downs and its managed property, Resorts Atlantic City. This program provides complimentary food and beverage, hotel, retail, entertainment and other services to patrons, as applicable, based on points that are awarded for patrons’ gaming activities. Points may be utilized to purchase, among other things, items at retail stores and restaurants located within Mohegan Sun, Mohegan Sun at Pocono Downs and Resorts Atlantic City. Points also may be utilized at The Shops at Mohegan Sun and the Mohegan Sun gasoline and convenience center, as well as to purchase hotel services and tickets to entertainment events held at facilities located at Mohegan Sun, Mohegan Sun at Pocono Downs and Resorts Atlantic City. The retail value of these complimentary items is included in gross revenues when redeemed at facilities operated by the Authority and then deducted as promotional allowances to arrive at net revenues. The cost associated with reimbursing third parties for the value of complimentary items redeemed at third-party outlets is charged to gaming costs and expenses. Effective October 1, 2013, this program, formerly referred to as the Player’s Club program, was restructured and renamed “Momentum,” and points issued under the program, formerly referred to as Player’s Club points, are now referred to as “Momentum Dollars.” | |||||||||||||||||
In addition, the Authority offers ongoing promotional coupon programs to patrons for the purchase of food and beverage, hotel and retail amenities offered within Mohegan Sun and Mohegan Sun at Pocono Downs, as applicable. The retail value of items or services purchased with coupons at facilities operated by the Authority is included in gross revenues and the respective coupon value is deducted as promotional allowances to arrive at net revenues. The cost associated with reimbursing third parties for the value of coupons redeemed at third-party outlets is charged to gaming costs and expenses. | |||||||||||||||||
The retail value of providing promotional allowances was included in revenues as follows (in thousands): | |||||||||||||||||
For the Fiscal Years Ended | |||||||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2011 | |||||||||||||||
Food and beverage | $ | 38,390 | $ | 40,925 | $ | 43,710 | |||||||||||
Hotel | 13,799 | 14,127 | 14,850 | ||||||||||||||
Retail, entertainment and other | 43,668 | 44,145 | 50,249 | ||||||||||||||
Total | $ | 95,857 | $ | 99,197 | $ | 108,809 | |||||||||||
The estimated cost of providing promotional allowances was included in gaming costs and expenses as follows (in thousands): | |||||||||||||||||
For the Fiscal Years Ended | |||||||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2011 | |||||||||||||||
Food and beverage | $ | 34,194 | $ | 37,140 | $ | 40,803 | |||||||||||
Hotel | 7,216 | 7,754 | 8,873 | ||||||||||||||
Retail, entertainment and other | 40,167 | 40,501 | 42,245 | ||||||||||||||
Total | $ | 81,577 | $ | 85,395 | $ | 91,921 | |||||||||||
In certain circumstances, the Authority also offers discounts on patron losses and cash inducements at Mohegan Sun and Mohegan Sun at Pocono Downs, which are recognized as reductions to gaming revenues. Reductions to gaming revenues related to discounts provided on patron losses totaled $11.0 million, $10.7 million and $9.7 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. Reductions to gaming revenues related to Momentum Dollars redeemed for cash totaled $1.4 million, $1.1 million and $933,000 for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. | |||||||||||||||||
Gaming Costs and Expenses | |||||||||||||||||
Gaming costs and expenses primarily include portions of gaming revenues that must be paid to the State of Connecticut and the PGCB. Gaming costs and expenses also include, among other things, payroll costs, expenses associated with the operation of slot machines, table games, poker, live harness racing and racebook, certain marketing expenditures and promotional expenses related to Momentum Dollar and coupon redemptions. | |||||||||||||||||
Advertising Costs and Expenses | |||||||||||||||||
Production costs are expensed the first time the advertisement takes place. Prepaid rental fees associated with billboard advertisements are capitalized and amortized over the terms of the related rental agreements. Advertising costs and expenses totaled $28.2 million, $28.2 million and $27.0 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. As of September 30, 2013 and 2012, prepaid advertising was $19,000 and $767,000, respectively. | |||||||||||||||||
Corporate Costs and Expenses | |||||||||||||||||
Corporate costs and expenses represent an allocation of certain governmental and administrative costs, payroll costs, professional fees and various other expenses not directly related to the Authority’s operations at Mohegan Sun or Mohegan Sun at Pocono Downs. In addition, Corporate costs and expenses include costs associated with various gaming diversification efforts, which are expensed as incurred, except when reimbursable by a third-party. | |||||||||||||||||
Severance Costs and Expenses | |||||||||||||||||
In September 2012, the Authority implemented a workforce reduction of approximately 330 positions in Uncasville, Connecticut, in an effort to further streamline its organization and better align operating costs with current market and business conditions. In addition, in March 2013, the Authority implemented a workforce reduction at its Pennsylvania Facilities. The costs associated with related post-employment severance benefits were expensed at the time the termination was communicated to the employees. Cash payments related to the September 2012 workforce reduction commenced in October 2012 and are anticipated to be completed in September 2014. Cash payments related to the March 2013 workforce reduction commenced in March 2013 and were completed in August 2013. The Authority does not anticipate incurring any additional severance charges in connection with these workforce reductions, other than charges that may arise from adjustments to the initial estimates utilized under the plans. The following table presents a reconciliation of the related severance liability by business segment (in thousands): | |||||||||||||||||
Mohegan Sun | Corporate | Mohegan Sun | Total | ||||||||||||||
at Pocono Downs | |||||||||||||||||
Balance, September 30, 2012 | $ | 12,497 | $ | 24 | $ | — | $ | 12,521 | |||||||||
Accrued severance at measurement date | — | — | 124 | 124 | |||||||||||||
Adjustments | (146 | ) | — | 51 | (95 | ) | |||||||||||
Cash payments | (10,934 | ) | (24 | ) | (175 | ) | (11,133 | ) | |||||||||
Balance, September 30, 2013 | $ | 1,417 | $ | — | $ | — | $ | 1,417 | |||||||||
Pre-Opening Costs and Expenses | |||||||||||||||||
In accordance with authoritative guidance issued by the FASB pertaining to the reporting on the costs of start-up activities, pre-opening costs and expenses are expensed as incurred. | |||||||||||||||||
Investments in Unconsolidated Affiliates | |||||||||||||||||
In October 2012, the Authority, through its indirect wholly-owned subsidiary, MGA Holding NJ, LLC, acquired a 10% ownership interest in Resorts Atlantic City. The Authority’s investment in Resorts Atlantic City is accounted for under the equity method as the Authority has significant influence. | |||||||||||||||||
Income Taxes | |||||||||||||||||
The Tribe is a sovereign Indian nation with independent legal jurisdiction over its people and land. Like other sovereign governments, the Tribe and its entities, including the Authority, are not subject to federal, state or local income taxes. |
Receivables_Net
Receivables, Net | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Receivables, Net | ' | ||||||||
NOTE 3—RECEIVABLES, NET: | |||||||||
Receivables, net, consisted of the following (in thousands): | |||||||||
September 30, 2013 | September 30, 2012 | ||||||||
Gaming | $ | 27,369 | $ | 29,231 | |||||
Hotel | 1,731 | 1,354 | |||||||
Other | 7,211 | 5,093 | |||||||
Subtotal | 36,311 | 35,678 | |||||||
Less: reserve for doubtful collection | (10,169 | ) | (9,122 | ) | |||||
Total receivables, net | $ | 26,142 | $ | 26,556 | |||||
Property_and_Equipment_Net
Property and Equipment, Net | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property and Equipment, Net | ' | ||||||||
NOTE 4—PROPERTY AND EQUIPMENT, NET: | |||||||||
Property and equipment, net, consisted of the following (in thousands): | |||||||||
September 30, 2013 | September 30, 2012 | ||||||||
Land | $ | 65,485 | $ | 64,799 | |||||
Land improvements | 96,735 | 96,603 | |||||||
Buildings and improvements | 1,691,924 | 1,692,683 | |||||||
Furniture and equipment | 541,832 | 541,506 | |||||||
Construction in process | 55,569 | 20,243 | |||||||
Subtotal | 2,451,545 | 2,415,834 | |||||||
Less: accumulated depreciation | (975,370 | ) | (925,436 | ) | |||||
Total property and equipment, net | $ | 1,476,175 | $ | 1,490,398 | |||||
Depreciation expense totaled $79.8 million, $84.5 million and $89.5 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. Capitalized interest totaled $2.0 million and $34,000 for the fiscal years ended September 30, 2013 and 2012, respectively. The Authority did not record any capitalized interest for the fiscal year ended September 30, 2011. | |||||||||
In September 2008, the Authority suspended certain elements of its Project Horizon expansion due to a slowdown in business volumes and uncertainties in the financial markets. Costs incurred on the suspended elements related to excavation and foundation work for a planned podium and new hotel tower, as well as professional fees for design and architectural work. During its fourth quarter ended September 30, 2010, the Authority re-evaluated its plans with respect to the development of the new hotel element of the project, and based on a modified plan, which encompassed a smaller hotel to be located closer to the existing hotel, determined that certain assets related to the suspended elements did not have any future benefit to the Authority. Accordingly, in fiscal 2010, the Authority recorded a related $58.1 million impairment charge. As of September 30, 2013 and 2012, assets anticipated to be utilized under the modified plan, which may include a third-party developed and owned hotel, including related capitalized interest, totaled $9.4 million and were included in construction in process. The Authority continues to evaluate its options with respect to the development of the new hotel; however, it can provide no assurance regarding if or when the modified plan will commence. Factors that the Authority will consider in determining the feasibility of the new hotel include the Authority’s financial performance, project cash flow projections, project costs, financing options, economic conditions, industry trends, demand and competition. |
Other_Current_Assets_and_Other
Other Current Assets and Other Current Liabilities | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Other Current Assets and Other Current Liabilities | ' | ||||||||
NOTE 5—OTHER CURRENT ASSETS AND OTHER CURRENT LIABILITIES: | |||||||||
Other current assets consisted of the following (in thousands): | |||||||||
September 30, 2013 | September 30, 2012 | ||||||||
Non-qualified deferred compensation | $ | 9,832 | $ | 17,190 | |||||
Prepaid expenses and other miscellaneous current assets | 10,686 | 11,125 | |||||||
Total other current assets | $ | 20,518 | $ | 28,315 | |||||
Other current liabilities consisted of the following (in thousands): | |||||||||
September 30, 2013 | September 30, 2012 | ||||||||
Accrued payroll and related taxes and benefits | $ | 36,538 | $ | 49,064 | |||||
Combined outstanding Slot Win Contribution and free promotional slot play contribution | 12,691 | 13,680 | |||||||
Accrued severance | 2,395 | 13,228 | |||||||
Amounts due to horsemen | 7,805 | 9,259 | |||||||
Other miscellaneous current liabilities | 64,553 | 64,749 | |||||||
Total other current liabilities | $ | 123,982 | $ | 149,980 | |||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Long-Term Debt | ' | ||||||||
NOTE 6—LONG-TERM DEBT: | |||||||||
Long-term debt consisted of the following (in thousands, including current maturities): | |||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | ||||||||
Bank Credit Facility, due March 2015 | $ | 393,000 | $ | 397,000 | |||||
Term Loan Facility, due March 2016, net of discount of $3,005 and $3,988, respectively | 221,995 | 221,012 | |||||||
2009 11 1⁄2% Second Lien Senior Secured Notes, due November 2017, net of discount of $5 and $6, respectively | 195 | 194 | |||||||
2012 11 1⁄2% Second Lien Senior Secured Notes, due November 2017, net of discount of $8,898 and $10,029, respectively | 190,902 | 189,771 | |||||||
2012 10 1⁄2% Third Lien Senior Secured Notes, due December 2016, net of discount of $7,160 | — | 410,611 | |||||||
2005 6 1⁄8% Senior Unsecured Notes, due February 2013 | — | 15,775 | |||||||
2013 9 3⁄4% Senior Unsecured Notes, due September 2021 | 500,000 | — | |||||||
2004 7 1⁄8% Senior Subordinated Notes, due August 2014 | 21,156 | 21,156 | |||||||
2005 6 7⁄8% Senior Subordinated Notes, due February 2015 | 9,654 | 9,654 | |||||||
2012 11% Senior Subordinated Notes, due September 2018, net of discount of $4,168 and $5,959, respectively | 271,022 | 338,231 | |||||||
2009 Mohegan Tribe Promissory Note, due September 2014 | 3,500 | 10,000 | |||||||
2012 Mohegan Tribe Minor’s Trust Promissory Note, due March 2016 | 18,000 | 20,000 | |||||||
Mohegan Tribe Credit Facility, due September 2013 | — | 1,450 | |||||||
2013 Mohegan Tribe Promissory Note, due December 2018 | 7,420 | — | |||||||
Downs Lodging Credit Facility, due July 2016 | 45,000 | 45,000 | |||||||
Salishan-Mohegan Promissory Notes, due December 2014 | 468 | — | |||||||
Subtotal | 1,682,312 | 1,679,854 | |||||||
Plus: net deferred gain on derivative instruments sold | — | 386 | |||||||
Long-term debt, excluding capital leases | 1,682,312 | 1,680,240 | |||||||
Less: current portion of long-term debt | (30,719 | ) | (29,737 | ) | |||||
Long-term debt, net of current portion | $ | 1,651,593 | $ | 1,650,503 | |||||
Maturities of long-term debt are as follows (in thousands, including current maturities): | |||||||||
Fiscal Years | |||||||||
2014 | $ | 30,719 | |||||||
2015 | 405,059 | ||||||||
2016 | 280,000 | ||||||||
2017 | — | ||||||||
2018 | 475,190 | ||||||||
Thereafter | 507,420 | ||||||||
Total | $ | 1,698,388 | |||||||
On August 15, 2013, the Authority completed a series of refinancing transactions related to certain of its outstanding indebtedness, including a private placement of $500.0 million in aggregate principal amount of senior unsecured notes and the consummation of a tender offer and consent solicitation with respect to certain of its outstanding notes (all further discussed below). The net proceeds from this private placement, together with borrowings under the Authority’s Bank Credit Facility, were used to repurchase or redeem all of the Authority’s outstanding 2012 Third Lien Senior Secured Notes and to repurchase $69.0 million of the Authority’s outstanding 2012 Senior Subordinated Notes, and to pay related fees and expenses. The Authority incurred approximately $12.8 million in costs in connection with these refinancing transactions, consisting primarily of consulting, legal and tender and consent fees. Based upon conclusions reached in accordance with authoritative guidance issued by the FASB pertaining to debt refinancing, approximately $7.3 million in previously capitalized transaction costs and $3.8 million in new transaction costs were expensed and recorded as a loss on early exchange of debt and write-off of debt issuance costs in the accompanying consolidated statement of income for the fiscal year ended September 30, 2013. Approximately $8.6 million in new transaction costs were capitalized and included in other assets, net, in the accompanying consolidated balance sheet as of September 30, 2013 and will be amortized over the term of the related debt. The remaining $400,000 in new transaction costs was reflected as a debt discount and included in long-term debt, net of current portion, in the accompanying consolidated balance sheet as of September 30, 2013 and will be amortized over the term of the related debt. | |||||||||
On November 19, 2013, the Authority completed certain additional refinancing transactions relating to its Bank Credit Facility, Term Loan Facility and 2009 and 2012 Second Lien Notes, including the repayment and termination of the Bank Credit Facility and Term Loan Facility and the repurchase and redemption of the 2009 and 2012 Second Lien Notes with the proceeds from new senior secured credit facilities (refer to Note 17). The discussion below relating to the Bank Credit Facility, the Term Loan Facility and the 2009 and 2012 Second Lien Notes includes a description of the terms of such instruments as they existed at September 30, 2013. | |||||||||
Bank Credit Facilities | |||||||||
First Lien, First Out Credit Facility | |||||||||
In March 2012, the Authority entered into a Fourth Amended and Restated Bank Credit Facility providing for a $400.0 million term loan and a revolving loan with letter of credit and borrowing capacity of up to $75.0 million from a syndicate of financial institutions and commercial banks, with Bank of America, N.A. serving as Administrative Agent (the “Bank Credit Facility”). Principal outstanding on the term loan under the Bank Credit Facility is to be repaid at a rate of $1.0 million per quarter. The Bank Credit Facility matures on March 31, 2015, upon which date all outstanding balances are payable in full. As of September 30, 2013, there were $393.0 million in term loans and no revolving loans outstanding under the Bank Credit Facility. As of September 30, 2013, letters of credit issued under the Bank Credit Facility totaled $3.4 million, of which no amount was drawn. Inclusive of letters of credit, which reduce borrowing availability under the Bank Credit Facility, and after taking into account restrictive financial covenant requirements, the Authority had approximately $71.6 million of borrowing capacity under the Bank Credit Facility as of September 30, 2013. | |||||||||
Borrowings under the Bank Credit Facility incur interest as follows: (i) for base rate revolving loans, base rate plus an applicable margin based on a leverage-based pricing grid between 2.25% and 3.25%; (ii) for Eurodollar rate revolving loans, the applicable LIBOR rate plus an applicable margin based on a leverage-based pricing grid between 3.50% and 4.50%; (iii) for base rate term loans, base rate plus an applicable margin equal to 3.25%; and (iv) for Eurodollar rate term loans, the applicable LIBOR rate plus 4.50%. For Eurodollar rate term loans, LIBOR is subject to a 1.0% floor. There also is a fee of between 0.25% and 0.50%, based on a leverage-based pricing grid, charged on unused revolving commitments. Interest on Eurodollar rate loans is payable at the end of each applicable interest period for periods of three months or less and for loans of more than three months, each March, June, September or December that occurs after the beginning of such interest period. Interest on base rate loans is payable quarterly in arrears. As of September 30, 2013, the $393.0 million in term loans outstanding were based on the Eurodollar rate floor of 1.0% plus an applicable margin of 4.50%. The applicable margin for commitment fees was 0.50% as of September 30, 2013. As of September 30, 2013 and 2012, accrued interest, including commitment fees, on the Bank Credit Facility was $61,000 and $211,000, respectively. | |||||||||
The Authority’s obligations under the Bank Credit Facility are fully and unconditionally guaranteed, jointly and severally, by the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming (collectively, the “Guarantors”). The Bank Credit Facility is collateralized by a first priority lien on substantially all of the Authority’s property and assets and those of the Guarantors (other than MBC), including the assets that comprise Mohegan Sun at Pocono Downs and a leasehold mortgage on the land and improvements that comprise Mohegan Sun (the Authority and the Guarantors, other than MBC, are collectively referred to herein as the “Grantors”). The Grantors also are required to pledge additional assets as collateral for the Bank Credit Facility as they and future guarantor subsidiaries acquire them. The liens and security interests granted by the Grantors as security for the Authority’s obligations under the Bank Credit Facility are senior in priority to the liens on the same collateral securing the Term Loan Facility (as defined below) and the 2009 Second Lien Notes and 2012 Second Lien Notes (each as defined below and, collectively, the “Secured Notes”). The collateral securing the Bank Credit Facility constitutes substantially all of the Grantors’ property and assets that secure the Term Loan Facility and the Secured Notes, but excludes certain excluded assets as defined in the Bank Credit Facility. | |||||||||
The Bank Credit Facility contains negative covenants applicable to the Authority and the Guarantors, including negative covenants governing incurrence of indebtedness, incurrence of liens, payment of dividends and other distributions, investments, asset sales, affiliate transactions, mergers or consolidations and capital expenditures. Additionally, the Bank Credit Facility includes financial maintenance covenants pertaining to total leverage, senior leverage and minimum fixed charge coverage. | |||||||||
As of September 30, 2013, the Authority and the Tribe were in compliance with all respective covenant requirements under the Bank Credit Facility. | |||||||||
On November 19, 2013, the Authority repaid and terminated the Bank Credit Facility (refer to Note 17). | |||||||||
First Lien, Second Out Term Loan Facility | |||||||||
In March 2012, the Authority entered into a loan agreement providing for a $225.0 million first lien, second out term loan with Wells Fargo Gaming Capital, LLC serving as Administrative Agent (the “Term Loan Facility”). The Term Loan Facility was issued at a price of 98.0% of par, for an initial yield of approximately 9.6% per annum. The Term Loan Facility has no mandatory amortization and is payable in full on March 31, 2016. | |||||||||
Loans under the Term Loan Facility incur interest as follows: (i) for base rate loans, base rate plus 6.50% per annum and (ii) for Eurodollar rate loans, LIBOR plus 7.50% per annum. In all cases, LIBOR is subject to a 1.50% floor. Interest on Eurodollar rate loans is payable at the end of each applicable interest period or every quarter in arrears, if an interest period exceeds three months. Interest on base rate loans is payable quarterly in arrears. As of September 30, 2013, the Authority had a $225.0 million Eurodollar rate loan outstanding, which was based on the Eurodollar rate floor of 1.50% plus an applicable margin of 7.50%. As of September 30, 2013 and 2012, accrued interest on the Term Loan Facility was $1.1 million and $1.2 million, respectively. | |||||||||
The Term Loan Facility is fully and unconditionally guaranteed, jointly and severally, by each of the Guarantors. The liens and security interests granted by the Grantors as security for the Authority’s obligations under the Term Loan Facility are senior in priority to the liens on the same collateral securing any of the Secured Notes. The collateral securing the Term Loan Facility constitutes substantially all of the Grantors’ property and assets that secure the Bank Credit Facility and the Secured Notes, but excludes certain excluded assets as defined in the Term Loan Facility. | |||||||||
The Term Loan Facility contains negative covenants and financial maintenance covenants that are substantially the same as those contained in the Bank Credit Facility. The Term Loan Facility also includes a separate first lien leverage ratio covenant. | |||||||||
As of September 30, 2013, the Authority and the Tribe were in compliance with all respective covenant requirements under the Term Loan Facility. | |||||||||
On November 19, 2013, the Authority repaid and terminated the Term Loan Facility (refer to Note 17). | |||||||||
The Authority continues to monitor revenues and expenditures to ensure continued compliance with its financial covenant requirements under both the Bank Credit Facility and the Term Loan Facility. While the Authority anticipates that it will remain in compliance with all covenant requirements under its bank credit facilities for all periods prior to maturity, it may need to increase revenues or offset any future declines in revenues by implementing further cost containment and other initiatives in order to maintain compliance with these financial covenant requirements. If the Authority is unable to satisfy its financial covenant requirements, it would need to obtain waivers or consents under the bank credit facilities; however, the Authority can provide no assurance that it would be able to obtain such waivers or consents. If the Authority is unable to obtain such waivers or consents, it would be in default under its bank credit facilities, which may result in cross-defaults under its other outstanding indebtedness and allow its lenders and creditors to exercise their rights and remedies as defined under their respective agreements, including their right to accelerate the repayment of the Authority’s outstanding indebtedness. If such acceleration were to occur, the Authority can provide no assurance that it would be able to obtain the financing necessary to repay such accelerated indebtedness. | |||||||||
Senior Secured Notes | |||||||||
2009 11 1⁄2% Second Lien Senior Secured Notes | |||||||||
In October 2009, the Authority issued $200.0 million Second Lien Senior Secured Notes with fixed interest payable at a rate of 11.50% per annum (the “2009 Second Lien Notes”). The 2009 Second Lien Notes were issued at a price of 96.234% of par, to yield an effective interest rate of 12.25% per annum. The 2009 Second Lien Notes mature on November 1, 2017. The first call date for the 2009 Second Lien Notes is November 1, 2013. Interest on the 2009 Second Lien Notes is payable semi-annually on May 1st and November 1st. | |||||||||
In March 2012, the Authority completed a private exchange offer and consent solicitation for any or all of its outstanding 2009 Second Lien Notes. As part of the exchange offer, the Authority solicited and received consents from tendering holders to certain amendments to the indentures governing the 2009 Second Lien Notes, which eliminated certain restrictive covenants under the notes and related indenture. The aggregate principal amount of 2009 Second Lien Notes tendered and exchanged was $199.8 million. An aggregate principal amount of $200,000 of 2009 Second Lien Notes remains outstanding as of September 30, 2013. As of September 30, 2013 and 2012, accrued interest on the 2009 Second Lien Notes was $10,000. | |||||||||
The 2009 Second Lien Notes are collateralized by a second priority lien on substantially all of the Grantors’ and future guarantor subsidiaries’ properties and assets, and are effectively subordinated to all of the Authority’s and its existing and future guarantor subsidiaries’ first priority lien secured indebtedness, including borrowings under the Bank Credit Facility and Term Loan Facility, to the extent of the value of the collateral securing such indebtedness. The 2009 Second Lien Notes are fully and unconditionally guaranteed, jointly and severally, by the Guarantors. | |||||||||
The 2009 Second Lien Notes and guarantees have not been and will not be registered under the Securities Act of 1933 or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. | |||||||||
On November 19, 2013, the Authority redeemed all of its outstanding 2009 Second Lien Notes (refer to Note 17). | |||||||||
2012 11 1⁄2% Second Lien Senior Secured Notes | |||||||||
In March 2012, the Authority issued $199.8 million Second Lien Senior Secured Notes with fixed interest payable at a rate of 11.50% per annum (the “2012 Second Lien Notes”) in exchange for an equal amount of 2009 Second Lien Notes. The 2012 Second Lien Notes mature on November 1, 2017. The Authority may redeem the 2012 Second Lien Notes, in whole or in part, at any time prior to November 1, 2014, at a price equal to 100% of the principal amount plus a make-whole premium and accrued interest. On or after November 1, 2014, the Authority may redeem the 2012 Second Lien Notes, in whole or in part, at a premium decreasing ratably to zero, plus accrued interest. If a change of control of the Authority occurs, the Authority must offer to repurchase the 2012 Second Lien Notes at a price equal to 101% of the principal amount, plus accrued interest. In addition, if the Authority undertakes certain types of asset sales or suffers events of loss, and the Authority does not use the related sale or insurance proceeds for specified purposes, the Authority may be required to offer to repurchase the 2012 Second Lien Notes at a price equal to 100% of the principal amount, plus accrued interest. Interest on the 2012 Second Lien Notes is payable semi-annually on May 1st and November 1st. As of September 30, 2013 and 2012, accrued interest on the 2012 Second Lien Notes was $9.6 million and $13.1 million, respectively. | |||||||||
In July 2013, the Authority solicited and received requisite consents from tendering holders of the 2012 Second Lien Notes to certain amendments to the indenture governing the notes. The amendments, which became operative in August 2013, permitted the Authority to refinance its outstanding subordinated indebtedness with senior unsecured indebtedness and to enter into certain transactions with the Mohegan Tribe in the event that the Mohegan Tribe constructs a hotel on Tribal land currently leased by the Authority. | |||||||||
The 2012 Second Lien Notes and the related guarantees are secured by second lien security interests in substantially all of the Grantors property and assets. These liens are junior in priority to the liens on the same collateral securing the Authority’s Bank Credit Facility and Term Loan Facility (and permitted replacements thereof) and to all other permitted prior liens, including liens securing certain hedging obligations. The collateral securing the 2012 Second Lien Notes constitutes substantially all of the Grantors’ property and assets that secure the Bank Credit Facility and Term Loan Facility and the 2009 Second Lien Notes, but excludes certain excluded assets as defined in the 2012 Second Lien Notes indenture. The 2012 Second Lien Notes are fully and unconditionally guaranteed, jointly and severally, by the Guarantors. | |||||||||
The 2012 Second Lien Notes and guarantees have not been and will not be registered under the Securities Act of 1933 or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. | |||||||||
On November 19, 2013, the Authority repurchased or redeemed all of its outstanding 2012 Second Lien Notes (refer to Note 17). | |||||||||
2012 10 1⁄2% Third Lien Senior Secured Notes | |||||||||
In March 2012, the Authority issued $417.7 million Third Lien Senior Secured Notes with fixed interest payable at a rate of 10.50% per annum (the “2012 Third Lien Notes”) in exchange for $234.2 million of 2005 Senior Unsecured Notes and $183.5 million of 2002 8% Senior Subordinated Notes. The 2012 Third Lien Notes were scheduled to mature on December 15, 2016. The 2012 Third Lien Notes were redeemable, in whole or in part, at any time at a price equal to 100% of the principal amount plus accrued interest. | |||||||||
On August 15, 2013, the Authority completed a tender offer and consent solicitation for its outstanding 2012 Third Lien Notes. As part of the tender offer, the Authority solicited and received requisite consents from tendering holders to certain amendments to the indentures governing the 2012 Third Lien Notes, which eliminated certain restrictive covenants under the notes and related indenture. Pursuant to this transaction, the Authority repurchased or redeemed all of its outstanding 2012 Third Lien Notes in the aggregate principal amount of $417.7 million. As of September 30, 2012, accrued interest on the 2012 Third Lien Notes was $25.0 million. | |||||||||
Senior Unsecured Notes | |||||||||
2013 9 3⁄4% Senior Unsecured Notes | |||||||||
On August 15, 2013, the Authority issued $500.0 million Senior Unsecured Notes with fixed interest payable at a rate of 9.75% per annum (the “2013 Senior Unsecured Notes”). The net proceeds from this transaction, together with borrowings under the Bank Credit Facility, were used to repurchase or redeem all of its outstanding 2012 Third Lien Notes and to repurchase $69.0 million of its outstanding 2012 Senior Subordinated Notes, and to pay related fees and expenses. The 2013 Senior Unsecured Notes mature on September 1, 2021. The Authority may redeem the 2013 Senior Unsecured Notes, in whole or in part, at any time prior to September 1, 2016 at a price equal to 100% of the principal amount plus a make-whole premium and accrued interest and additional interest (pursuant to the registration rights agreement described below), if any, to the date of redemption. On or after September 1, 2016, the Authority may redeem the 2013 Senior Unsecured Notes, in whole or in part, at specified redemption prices, together with accrued interest and additional interest, if any, to the date of redemption. If the Authority experiences specific kinds of change of control triggering events, the Authority must offer to repurchase the 2013 Senior Unsecured Notes at a price equal to 101% of the principal amount thereof, plus accrued interest and additional interest, if any, to the purchase date. In addition, if the Authority undertakes certain types of asset sales and does not use the related sale proceeds for specified purposes, the Authority may be required to offer to repurchase the 2013 Senior Unsecured Notes at a price equal to 100% of the principal amount, plus accrued interest and additional interest, if any. Interest on the 2013 Senior Unsecured Notes is payable semi-annually on March 1st and September 1st, commencing March 1, 2014. As of September 30, 2013, accrued interest on the 2013 Senior Unsecured Notes was $6.2 million. | |||||||||
The 2013 Senior Unsecured Notes are uncollateralized general obligations of the Authority, and are effectively subordinated to all of the Authority’s and the Guarantors’ and future guarantor subsidiaries’ senior secured indebtedness, including the Bank Credit Facility, Term Loan Facility, 2009 Second Lien Notes and 2012 Second Lien Notes, to the extent of the value of the collateral securing such indebtedness. The 2013 Senior Unsecured Notes also are effectively subordinated to any indebtedness and other liabilities (including trade payables) of the Authority’s subsidiaries that do not guarantee the 2013 Senior Unsecured Notes. The 2013 Senior Unsecured Notes rank equally in right of payment with the Authority’s other unsecured, unsubordinated indebtedness, including trade payables and the senior portion of the Authority’s payment obligations under its Relinquishment Agreement. The 2013 Senior Unsecured Notes are fully and unconditionally guaranteed, jointly and severally, by the Guarantors. | |||||||||
The 2013 Senior Unsecured Notes indenture contains certain covenants that, subject to certain significant exceptions, limit, among other things, the Authority’s and Guarantors’ ability to incur additional debt, pay dividends or distributions, make certain investments, create liens on assets, enter into transactions with affiliates, merge or consolidate with another company or transfer and sell assets. The 2013 Senior Unsecured Notes indenture includes customary events of default, including, but not limited to, failure to make required payments, failure to comply with certain agreements or covenants, failure to pay certain other indebtedness the occurrence of which is caused by a failure to pay principal, premium or interest or results in the acceleration of such indebtedness, certain events of bankruptcy and insolvency and certain judgment defaults. | |||||||||
The 2013 Senior Unsecured Notes and guarantees have not been registered under the Securities Act of 1933 or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. | |||||||||
Registration Rights Agreement | |||||||||
On August 15, 2013, the Authority and the Guarantors entered into a registration rights agreement with Credit Suisse Securities (USA) LLC and RBS Securities Inc., as representatives of the initial purchasers of the 2013 Senior Unsecured Notes. Upon the terms and subject to the conditions of this agreement, the Authority agreed to offer to exchange the 2013 Senior Unsecured Notes pursuant to a registration statement effective within 240 days of issuance for a new issue of substantially identical debt securities registered under the Securities Act of 1933. Under certain circumstances, the Authority also may be obligated under the registration rights agreement to file a shelf registration statement with respect to the 2013 Senior Unsecured Notes. | |||||||||
2005 6 1⁄8% Senior Unsecured Notes | |||||||||
In February 2005, the Authority issued $250.0 million Senior Unsecured Notes with fixed interest payable at a rate of 6.125% per annum (the “2005 Senior Unsecured Notes”). Subsequent to the Authority’s March 2012 private exchange offer, $15.8 million of the 2005 Senior Unsecured Notes remained outstanding, which amount, including accrued interest, was repaid at maturity on February 15, 2013 with cash on hand. As of September 30, 2012, accrued interest on the 2005 Senior Unsecured Notes was $81,000. | |||||||||
Senior Subordinated Notes | |||||||||
2004 7 1⁄8% Senior Subordinated Notes | |||||||||
In August 2004, the Authority issued $225.0 million Senior Subordinated Notes with fixed interest payable at a rate of 7.125% per annum (the “2004 Senior Subordinated Notes”). The 2004 Senior Subordinated Notes mature on August 15, 2014. The 2004 Senior Subordinated Notes are callable at the Authority’s option at par. Interest on the 2004 Senior Subordinated Notes is payable semi-annually on February 15th and August 15th. | |||||||||
In March 2012, the Authority completed a private exchange offer and consent solicitation for any or all of its outstanding 2004 Senior Subordinated Notes. As part of the exchange offer, the Authority solicited and received consents from tendering holders to certain amendments to the indentures governing the 2004 Senior Subordinated Notes, which eliminated certain restrictive covenants under the notes and related indenture. The aggregate principal amount of 2004 Senior Subordinated Notes tendered and exchanged was $203.8 million. An aggregate principal amount of $21.2 million of the 2004 Senior Subordinated Notes remains outstanding as of September 30, 2013. As of September 30, 2013 and 2012, accrued interest on the 2004 Senior Subordinated Notes was $188,000 and $148,000, respectively. | |||||||||
2005 6 7⁄8% Senior Subordinated Notes | |||||||||
In February 2005, the Authority issued $150.0 million Senior Subordinated Notes with fixed interest payable at a rate of 6.875% per annum (the “2005 Senior Subordinated Notes”). The 2005 Senior Subordinated Notes mature on February 15, 2015. The 2005 Senior Subordinated Notes are callable at the Authority’s option at par. Interest on the 2005 Senior Subordinated Notes is payable semi-annually on February 15th and August 15th. | |||||||||
In March 2012, the Authority completed a private exchange offer and consent solicitation for any or all of its outstanding 2005 Senior Subordinated Notes. As part of the exchange offer, the Authority solicited and received consents from tendering holders to certain amendments to the indentures governing the 2005 Senior Subordinated Notes, which eliminated certain covenants under the notes and related indenture. The aggregate principal amount of 2005 Senior Subordinated Notes tendered and exchanged was $140.3 million. An aggregate principal amount of $9.7 million of the 2005 Senior Subordinated Notes remains outstanding as of September 30, 2013. As of September 30, 2013 and 2012, accrued interest on the 2005 Senior Subordinated Notes was $83,000 and $56,000, respectively. | |||||||||
2012 11% Senior Subordinated Notes | |||||||||
In March 2012, the Authority issued $344.2 million Senior Subordinated Toggle Notes with fixed interest payable at a rate of 11% per annum (the “2012 Senior Subordinated Notes”) in exchange for $203.8 million of 2004 Senior Subordinated Notes and $140.3 million of 2005 Senior Subordinated Notes. The 2012 Senior Subordinated Notes mature on September 15, 2018. The Authority may redeem the 2012 Senior Subordinated Notes, in whole or in part, at any time, at a price equal to 100% of the principal amount plus accrued interest. If a change of control of the Authority occurs, the Authority must offer to repurchase the 2012 Senior Subordinated Notes at a price equal to 101% of the principal amount, plus accrued interest. In addition, if the Authority undertakes certain types of asset sales or suffers events of loss, and the Authority does not use the related sale or insurance proceeds for specified purposes, the Authority may be required to offer to repurchase the 2012 Senior Subordinated Notes at a price equal to 100% of the principal amount, plus accrued interest. Interest on the 2012 Senior Subordinated Notes is payable semi-annually on March 15th and September 15th. The initial interest payment on the 2012 Senior Subordinated Notes was payable entirely in cash. For any subsequent interest payment period through March 15, 2018, the Authority may, at its option, elect to pay interest on the 2012 Senior Subordinated Notes either entirely in cash or by paying up to 2% in 2012 Senior Subordinated Notes (“PIK Interest”). If the Authority elects to pay PIK Interest, such election will increase the principal amount of the 2012 Senior Subordinated Notes in an amount equal to the amount of PIK Interest for the applicable interest payment period to holders of 2012 Senior Subordinated Notes on the relevant record date. | |||||||||
On August 15, 2013, the Authority repurchased $69.0 million aggregate principal amount of 2012 Senior Subordinated Notes. An aggregate principal amount of $275.2 million of the 2012 Senior Subordinated Notes remains outstanding as of September 30, 2013. As of September 30, 2013 and 2012, accrued interest on the 2012 Senior Subordinated Notes was $1.3 million and $1.7 million, respectively. | |||||||||
The 2012 Senior Subordinated Notes and guarantees have not been and will not be registered under the Securities Act of 1933 or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. | |||||||||
The Authority’s senior subordinated notes are uncollateralized general obligations of the Authority, and are subordinated to borrowings under the Bank Credit Facility, Term Loan Facility, 2009 Second Lien Notes, 2012 Second Lien Notes and 2013 Senior Unsecured Notes. The senior subordinated notes are fully and unconditionally guaranteed, jointly and severally, by the Guarantors. | |||||||||
The senior and senior subordinated note indentures contain certain non-financial and financial covenant requirements with which the Authority and the Tribe must comply. The non-financial covenant requirements include, among other things, reporting obligations, compliance with laws and regulations, maintenance of licenses and insurances and continued existence of the Authority. The financial covenant requirements include, among other things, subject to certain exceptions, limitations on the Authority’s and the Guarantors’ ability to incur additional indebtedness, pay dividends or distributions, make certain investments, create liens on assets, enter into transactions with affiliates, merge or consolidate with another company, transfer or sell assets or impair assets constituting collateral. | |||||||||
As of September 30, 2013, the Authority and the Tribe were in compliance with all respective covenant requirements under the senior and senior subordinated note indentures. | |||||||||
The Authority or its affiliates may, from time to time, seek to purchase or otherwise retire outstanding indebtedness for cash in open market purchases, privately negotiated transactions or otherwise. Any such transaction will depend on prevailing market conditions and the Authority’s liquidity and covenant requirement restrictions, among other factors. | |||||||||
Line of Credit | |||||||||
As of September 30, 2013, the Authority had a $16.5 million revolving credit facility with Bank of America, N.A. maturing on March 31, 2015 (the “Line of Credit”). Pursuant to provisions of the Bank Credit Facility, the Line of Credit may be replaced by an Autoborrow Loan governed by the terms of an Autoborrow Agreement described in the Bank Credit Facility. Under the Line of Credit, each advance accrues interest on the basis of a one-month LIBOR rate plus an applicable margin based on the Authority’s total leverage ratio, as each term is defined under the Line of Credit. Borrowings under the Line of Credit are uncollateralized obligations. As of September 30, 2013, no amount was drawn on the Line of Credit. The Line of Credit contains negative covenants and financial maintenance covenants that are substantially the same as those contained in the Bank Credit Facility. As of September 30, 2013, the Authority was in compliance with all covenant requirements under the Line of Credit and had $16.5 million of borrowing capacity thereunder. As of September 30, 2013 and 2012, there was no accrued interest on the Line of Credit. | |||||||||
On November 19, 2013, the Authority amended and restated the Line of Credit in connection with the refinancing of its Bank Credit Facility (refer to Note 17). | |||||||||
2009 Mohegan Tribe Promissory Note | |||||||||
In September 2009, the Tribe made a $10.0 million loan to Salishan-Mohegan (the “2009 Mohegan Tribe Promissory Note”) which matures on September 30, 2014. The 2009 Mohegan Tribe Promissory Note accrues interest at an annual rate of 10.0%. Accrued interest is payable quarterly in the amount of $1.2 million, commencing December 31, 2013 and continuing through June 30, 2014, with the balance of accrued and unpaid interest due at maturity. Principal outstanding under the 2009 Mohegan Tribe Promissory Note amortizes as follows: (i) $1.625 million per quarter, commencing December 31, 2012 and continuing through September 30, 2013 and (ii) $875,000 per quarter, commencing December 31, 2013. As of September 30, 2013 and 2012, accrued interest on the Mohegan Tribe Promissory Note was $4.7 million and $3.9 million, respectively. | |||||||||
2012 Mohegan Tribe Minor’s Trust Promissory Note | |||||||||
In March 2012, Comerica Bank & Trust, N.A., Trustee f/b/o The Mohegan Tribe of Indians of Connecticut Minor’s Trust, made a $20.0 million loan to Salishan-Mohegan (the “2012 Mohegan Tribe Minor’s Trust Promissory Note”). The 2012 Mohegan Tribe Minor’s Trust Promissory Note matures on March 31, 2016. The 2012 Mohegan Tribe Minor’s Trust Promissory Note accrues interest at an annual rate of 10.0%. Accrued interest is payable quarterly, commencing June 30, 2012. Principal outstanding under the 2012 Mohegan Tribe Minor’s Trust Promissory Note amortizes as follows: (i) $500,000 per quarter, commencing December 31, 2012 and continuing through September 30, 2014 and (ii) $1.5 million per quarter, commencing December 31, 2014 and continuing to maturity. As of September 30, 2013 and 2012, accrued interest on the 2012 Mohegan Tribe Minor’s Trust Promissory Note was $5,000 and $16,000, respectively. | |||||||||
Mohegan Tribe Credit Facility | |||||||||
In March 2012, the Tribe extended a revolving credit facility issued to Salishan-Mohegan with a borrowing capacity of $1.45 million (the “Mohegan Tribe Credit Facility”). The Mohegan Tribe Credit Facility matured on September 30, 2013. As of September 30, 2013, no amount was outstanding under the Mohegan Tribe Credit Facility. As of September 30, 2012, accrued interest on the Mohegan Tribe Credit Facility was $249,000. | |||||||||
2013 Mohegan Tribe Promissory Note | |||||||||
In March 2013, MG&H purchased and acquired all of the Tribe’s membership interest in MG&H in exchange for a promissory note in the principal amount of $7.4 million (the “2013 Mohegan Tribe Promissory Note”). The 2013 Mohegan Tribe Promissory Note matures on December 31, 2018. The 2013 Mohegan Tribe Promissory Note accrues interest at an annual rate of 4.0% payable quarterly, commencing June 30, 2013. As of September 30, 2013, accrued interest on the 2013 Mohegan Tribe Promissory Note was $1,000. | |||||||||
Downs Lodging Credit Facility | |||||||||
In July 2012, Downs Lodging, a single purpose entity and wholly-owned unrestricted subsidiary of the Authority, entered into a credit agreement providing for a $45.0 million term loan from a third-party lender (the “Downs Lodging Credit Facility”). The proceeds of the Downs Lodging Credit Facility are being used by Downs Lodging to finance Project Sunlight, a hotel and convention center expansion project being developed and built by Downs Lodging at Mohegan Sun at Pocono Downs. The Downs Lodging Credit Facility matures on July 12, 2016 and accrues interest at an annual rate of 13.0%. Under the terms of the Downs Lodging Credit Facility, accrued interest of 10.0% is payable monthly in cash during the term of the loan, with the remaining 3.0% due at maturity. In addition, a 3.0% exit fee is payable upon repayment of the loan principal. The Downs Lodging Credit Facility is a senior secured obligation of Downs Lodging, collateralized by all existing and future assets of Downs Lodging. The Downs Lodging Credit Facility subjects Downs Lodging to certain covenant requirements customarily found in loan agreements for similar transactions. As of September 30, 2013, Downs Lodging was in compliance with all covenant requirements under the Downs Lodging Credit Facility. As of September 30, 2013, there was no accrued interest on the Downs Lodging Credit Facility. As of September 30, 2012, accrued interest on the Downs Lodging Credit Facility was $375,000. | |||||||||
Salishan-Mohegan Promissory Notes | |||||||||
In December 2012, Salishan-Mohegan Two, a wholly-owned subsidiary of Salishan-Mohegan, entered into two promissory notes with third-party lenders to fund the acquisition of certain property related to the Cowlitz Project. The first note, in the original principal amount of $150,000, bears no interest and amortizes as follows: (i) $5,000 per month, commencing December 31, 2012 and continuing through July 31, 2014 and (ii) $10,000 per month, commencing August 31, 2014 until fully paid. The second note, in the original principal amount of $375,000, matures on December 31, 2014 and accrues interest at an annual rate of 7.0%, payable monthly, commencing January 1, 2013. As of September 30, 2013, there was no accrued interest on the promissory notes. | |||||||||
Derivative Instruments | |||||||||
The Authority is considered an “end user” of derivative instruments and engages in derivative transactions, from time to time, for risk management purposes only. The Authority held no derivative instruments as of September 30, 2013 and 2012. | |||||||||
Interest rate swap agreements hedging outstanding debt instruments of the Authority, which qualified for hedge accounting in accordance with authoritative guidance issued by the FASB pertaining to the accounting for derivative instruments and hedging activities, and were designated as fair value hedges, were sold in prior fiscal years for a net aggregate gain of $1.7 million. This gain was deferred and added to the carrying value of the respective notes being hedged and was amortized and recorded to interest expense over the remaining term of the respective notes. The Authority recorded related amortization to interest expense totaling $(76,000), $(255,000) and $(467,000) for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. As of September 30, 2013, there was no deferred gain on derivative instruments sold remaining. |
Leases
Leases | 12 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Leases | ' | ||||||||||||||||||||||||||||
NOTE 7—LEASES: | |||||||||||||||||||||||||||||
The Authority leases certain areas at Mohegan Sun and Mohegan Sun at Pocono Downs to third-party food and beverage and retail outlets, as well as the rights to access and utilize Mohegan Sun’s rooftop for the installation and operation of antenna towers. Minimum future rental income that the Authority expects to earn under non-cancelable leases is as follows (in thousands): | |||||||||||||||||||||||||||||
Fiscal Years Ending September 30, | |||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||||
Minimum future rental income | $ | 6,927 | $ | 6,934 | $ | 6,236 | $ | 3,912 | $ | 3,288 | $ | 8,891 | $ | 36,188 | |||||||||||||||
The Authority is required to make payments under various operating leases for buildings, equipment and land at Mohegan Sun and Mohegan Sun at Pocono Downs. The Authority incurred rental expense totaling $11.0 million, $12.6 million and $13.3 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. Minimum future rental expense that the Authority expects to incur under non-cancelable leases is as follows (in thousands): | |||||||||||||||||||||||||||||
Fiscal Years Ending September 30, | |||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||||
Minimum future rental expense | $ | 1,859 | $ | 1,768 | $ | 949 | $ | 846 | $ | 830 | $ | 1,730 | $ | 7,982 |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions | ' |
NOTE 8—RELATED PARTY TRANSACTIONS: | |
Distributions to the Tribe totaled $50.0 million, $53.0 million and $47.1 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. | |
The Tribe provides certain governmental and administrative services in connection with the operation of Mohegan Sun. The Authority incurred expenses for such services totaling $26.8 million, $27.0 million and $27.2 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. | |
The Authority purchases most of its utilities, including electricity, gas, water and waste water services, from an instrumentality of the Tribe, the Mohegan Tribal Utility Authority. The Authority incurred costs for such utilities totaling $17.8 million, $18.7 million and $21.5 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. | |
The Authority incurred interest expense associated with borrowings from the Mohegan Tribe totaling $3.0 million, $2.5 million and $1.5 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. | |
Prior to March 2013, MTGA Gaming and the Tribe held 49% and 51% membership interests in MG&H, respectively. On March 29, 2013, MG&H purchased and acquired all of the Tribe’s membership interests in MG&H and retired the membership interests in exchange for a promissory note to the Tribe in the principal amount of $7.4 million. | |
As of September 30, 2013, outstanding payables to the Tribe totaled approximately $800,000 and were included in “Current liabilities—Due to Mohegan Tribe” in the accompanying consolidated balance sheet as of September 30, 2013. | |
The Authority leases the land on which Mohegan Sun is located from the Tribe under a long-term lease agreement. The agreement requires the Authority to make a nominal annual rental payment. This lease has an initial term of 25 years and is renewable for an additional 25-year term upon expiration. In addition, in July 2008, the Authority entered into a land lease agreement with the Tribe, replacing a prior land lease agreement, relating to property located adjacent to the Tribe’s reservation that is utilized by Mohegan Sun for employee parking. This agreement requires the Authority to make monthly payments equaling $75,000 until maturity on June 30, 2018. The Authority classified this lease as a capital lease for financial reporting purposes due to the existence of a bargain purchase option at the expiration of the lease. | |
In September 1995, the Tribe adopted the Mohegan Tribal Employment Rights Ordinance, as amended from time to time (the “TERO”), which sets forth hiring and contracting preference requirements for employers and entities conducting business on Tribal lands on or adjacent to the Mohegan Reservation. Pursuant to the TERO, the Authority and other covered employers are required to give hiring, promotion, training, retention and other employment-related preferences to Native Americans who meet the minimum qualifications for the applicable employment position. However, this preference requirement does not apply to key employees as such persons are defined under the TERO. | |
Similarly, any entity awarding a contract or subcontract valued up to $200,000 to be performed on Tribal lands must give preference, first, to certified Mohegan entities submitting commercially responsible bids, and second, to other certified Native American entities. This contracting preference is conditioned upon the bid by the preferred certified entity being within 5% of the lowest bid by a non-certified entity. Contracts in excess of $200,000 are awarded to the lowest commercially responsible bidder, on a competitive basis, with preference to certified Mohegan entities and then other certified Native American entities in the event of a matching bid. The TERO establishes procedures and requirements for certifying Mohegan entities and other Native American entities. Certification is based largely on the level of ownership and control exercised by the members of the Tribe or other Native American tribes, as the case may be, over the entity bidding on a contract. | |
As of September 30, 2013, the Authority employed approximately 130 members of the Tribe. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended |
Sep. 30, 2013 | |
Employee Benefit Plans | ' |
NOTE 9—EMPLOYEE BENEFIT PLANS: | |
The Authority maintains a retirement savings plan for its employees under Section 401(k) and Section 401(a) of the Internal Revenue Code (the “Mohegan Retirement and 401(k) Plan”). Under the 401(k) portion of the plan, participants may contribute between 1% and 25% of eligible compensation up to the maximum allowed by the Internal Revenue Code. The Authority matches 50% of participants’ elective deferral contributions up to a maximum of 3% of participants’ compensation. Under the retirement portion of the plan, the Authority may make discretionary retirement contributions based on a rate of $0.30 per qualified hour worked. In general, employees become eligible for the Mohegan Retirement and 401(k) Plan after 90 days of service and become fully vested after six years of service. In February 2009, the Authority suspended both its discretionary matching 401(k) contributions and retirement contributions. In July 2012, the Authority resumed its discretionary matching 401(k) contributions. Discretionary retirement contributions remain suspended. The Authority contributed $2.4 million and $612,000, net of forfeitures, to the Mohegan Retirement and 401(k) Plan for the fiscal year ended September 30, 2013 and 2012, respectively. | |
The Authority, together with the Tribe, maintains a non-qualified deferred compensation plan (the “Deferred Compensation Plan”) for certain key employees. Under the Deferred Compensation Plan, participants may defer up to 100% of their compensation. Participants’ withdrawals, net of contributions and changes in fair value of investments, totaled $7.4 million for the fiscal years ended September 30, 2013. Participants’ contributions, net of withdrawals and changes in fair value of investments, totaled $493,000 and $761,000 for the fiscal years ended September 30, 2012 and 2011, respectively. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies | ' |
NOTE 10—COMMITMENTS AND CONTINGENCIES: | |
Slot Win and Free Promotional Slot Play Contributions | |
In May 1994, the Tribe and the State of Connecticut entered into a Memorandum of Understanding (“MOU”), which sets forth certain matters regarding implementation of the Mohegan Compact. The MOU stipulates that a portion of revenues from slot machines must be paid to the State of Connecticut (“Slot Win Contribution”). Slot Win Contribution payments are not required if the State of Connecticut legalizes any other gaming operation with slot machines, video facsimiles of games of chance or other commercial casino games within the State of Connecticut, except those consented to by the Tribe and the Mashantucket Pequot Tribe (the “MPT”). For each 12-month period commencing July 1, 1995, Slot Win Contribution payments shall be the lesser of: (1) 30% of gross revenues from slot machines, or (2) the greater of (a) 25% of gross revenues from slot machines or (b) $80.0 million. | |
In September 2009, the Authority entered into a settlement agreement with the State of Connecticut regarding contribution payments on the Authority’s free promotional slot play program. Under the terms of the settlement agreement, effective July 1, 2009, the State of Connecticut agreed that no value shall be attributed to free promotional slot plays utilized by patrons at Mohegan Sun for purposes of calculating monthly contribution payments, provided that the aggregate amount of free promotional slot plays during any month does not exceed a certain threshold of gross revenues from slot machines for such month. In the event free promotional slot plays granted by the Authority exceed such threshold, contribution payments are required on such excess face amount of free promotional slot plays at the same rate as Slot Win Contribution payments, or 25%. Effective July 1, 2012, the threshold before contribution payments on free promotional slot plays are required was increased from 5.5% of gross revenues from slot machines to 11%. | |
The Authority reflected expenses associated with the combined Slot Win Contribution and free promotional slot play contribution totaling $155.8 million, $173.1 million and $183.8 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. As of September 30, 2013 and 2012, the combined outstanding Slot Win Contribution and free promotional slot play contribution totaled $12.7 million and $13.7 million, respectively. | |
Pennsylvania Slot Machine Tax | |
Downs Racing holds a Category One slot machine license issued by the PGCB for the operation of slot machines at Mohegan Sun at Pocono Downs. This license permits Downs Racing to install and operate up to 3,000 slot machines at Mohegan Sun at Pocono Downs, expandable to up to a total of 5,000 slot machines upon request and approval of the PGCB. | |
The Pennsylvania Race Horse Development and Gaming Act stipulates that holders of Category One slot machine licenses must pay a portion of revenues from slot machines to the PGCB on a daily basis (“Pennsylvania Slot Machine Tax”), which includes local share assessments to be paid to the cities and municipalities hosting Mohegan Sun at Pocono Downs and amounts to be paid to the Pennsylvania Harness Horsemen’s Association, Inc. (the “PHHA”). The Pennsylvania Slot Machine Tax is currently 55% of gross revenues from slot machines, 2% of which is subject to a $10.0 million minimum annual threshold to ensure that the host cities and municipalities receive an annual minimum of $10.0 million in local share assessments. Downs Racing maintains a $1.5 million escrow deposit in the name of the Commonwealth of Pennsylvania for Pennsylvania Slot Machine Tax payments, which was included in other assets, net, in the accompanying consolidated balance sheets. | |
The Authority reflected expenses associated with the Pennsylvania Slot Machine Tax totaling $124.0 million, $134.2 million and $129.7 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. As of September 30, 2013 and 2012, outstanding Pennsylvania Slot Machine Tax payments totaled $5.5 million. | |
Pennsylvania Table Game Tax | |
In January 2010, the Commonwealth of Pennsylvania amended the Pennsylvania Race Horse Development and Gaming Act to allow slot machine operators in the Commonwealth of Pennsylvania to obtain a table game operation certificate and operate certain table games, including poker. On July 13, 2010, Downs Racing opened its table game and poker operations at Mohegan Sun at Pocono Downs. Under the amended law, holders of table game operation certificates must pay a portion of revenues from table games to the PGCB on a weekly basis (“Pennsylvania Table Game Tax”). During the initial two years of operation, the Pennsylvania Table Game Tax was 14%, plus 2% in local share assessments. Following the initial two years of operation, the Pennsylvania Table Game Tax was reduced to 12%, plus the 2% local share assessments. Downs Racing concluded its initial two years of table game and poker operations on July 13, 2012. | |
The Authority reflected expenses associated with the Pennsylvania Table Game Tax totaling $6.1 million, $6.8 million and $6.6 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. As of September 30, 2013 and 2012, outstanding Pennsylvania Table Game Tax payments totaled $127,000 and $92,000, respectively. | |
Pennsylvania Regulatory Fee | |
Slot machine licensees in the Commonwealth of Pennsylvania are required to reimburse state gaming regulatory agencies for various administrative and operating expenses (“Pennsylvania Regulatory Fee”) at a rate of 1.5% of gross revenues from slot machines and table games. The Commonwealth of Pennsylvania temporarily suspended this assessment in May and June 2013. | |
The Authority reflected expenses associated with the Pennsylvania Regulatory Fee totaling $4.2 million, $5.1 million and $5.0 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. As of September 30, 2013 and 2012, outstanding Pennsylvania Regulatory Fee payments to the PGCB totaled $132,000 and $129,000, respectively. | |
Pennsylvania Gaming Control Board Loans | |
The PGCB was initially granted $36.1 million in loans to fund start-up costs for gaming in the Commonwealth of Pennsylvania, which are to be repaid by slot machine licensees (the “Initial Loans”). The PGCB was subsequently granted an additional $63.8 million in loans to fund ongoing gaming oversight costs, which also are to be repaid by slot machine licensees (the “Subsequent Loans”). Repayment of the Initial Loans will commence when all 14 authorized gaming facilities are opened in the Commonwealth of Pennsylvania. Currently, 12 of the 14 authorized gaming facilities have commenced operations. As of September 30, 2013, the Authority has concluded that a repayment contingency for the Initial Loans is probable but not reasonably estimable since the PGCB has not yet established a method of assessment of repayment for the Initial Loans and, as such, the Authority has not recorded a related accrual for such repayment. In June 2011, the PGCB adopted a method of assessment of repayment for the Subsequent Loans pursuant to which repayment commenced on January 1, 2012 and will continue over a 10-year period in accordance with a formula based on a combination of a single fiscal year and cumulative gross revenues from slot machines for each operating slot machine licensee. | |
The Authority reflected expenses associated with this repayment schedule totaling $633,000, $659,000 and $846,000 for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. | |
Horsemen’s Agreement | |
Downs Racing and the PHHA are parties to an agreement that governs all live harness racing and simulcasting and account wagering at the Pennsylvania Facilities through December 31, 2014. As of September 30, 2013 and 2012, outstanding payments to the PHHA for purses earned by horsemen, but not yet paid, and other fees totaled $7.8 million and $9.3 million, respectively. | |
Priority Distribution Agreement | |
In August 2001, the Authority and the Tribe entered into an agreement (the “Priority Distribution Agreement”), which stipulates that the Authority must make monthly payments to the Tribe to the extent of the Authority’s Net Cash Flow, as defined under the Priority Distribution Agreement. The Priority Distribution Agreement, which has a perpetual term, limits the maximum aggregate priority distribution payments in each calendar year to $14.0 million, as adjusted annually in accordance with a formula specified in the Priority Distribution Agreement to reflect the effects of inflation. Payments under the Priority Distribution Agreement: (1) do not reduce the Authority’s obligations to reimburse the Tribe for governmental and administrative services provided by the Tribe or to make payments under any other agreements with the Tribe; (2) are limited obligations of the Authority and are payable only to the extent of the Authority’s Net Cash Flow, as defined under the Priority Distribution Agreement; and (3) are not secured by a lien or encumbrance on any of the Authority’s assets or properties. | |
The Authority reflected payments associated with the Priority Distribution Agreement totaling $19.2 million, $18.8 million and $18.3 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. | |
Town of Montville Agreement | |
In June 1994, the Tribe entered into an agreement with the Town of Montville (the “Town”) under which the Tribe agreed to pay the Town $500,000 annually to minimize the impact of Tribe’s reservation being held in trust on the Town. The Tribe has assigned its rights and obligations under this agreement to the Authority. | |
Land Lease Agreement | |
The land upon which Mohegan Sun is located is held in trust for the Tribe by the United States. The Authority entered into a land lease agreement with the Tribe to lease the property and improvements and related facilities constructed or installed on the property. In March 2007, the agreement was amended to update the legal description of the property, and, in April 2007, the amended agreement was approved by the Secretary of the Interior. The following summarizes the key provisions of the land lease agreement: | |
Term | |
The term of the agreement is 25 years with an option, exercisable by the Authority, to extend the term for one additional 25-year period. Upon termination of the agreement, the Authority will be required to surrender to the Tribe possession of the property and improvements, excluding any equipment, furniture, fixtures or other personal property. | |
Rent and Other Operating Costs and Expenses | |
The agreement requires the Authority to pay the Tribe a nominal annual rental fee. For any period that the Tribe or another agency or instrumentality of the Tribe is not the tenant, the rent will be 8% of such tenant’s gross revenues from the property. The Authority is responsible for all costs and expenses of owning, operating, constructing, maintaining, repairing, replacing and insuring the property. | |
Use of Property | |
The Authority may utilize the property and improvements solely for the operation of Mohegan Sun, unless prior approval is obtained from the Tribe for any proposed alternative use. The Authority may not construct or alter any building or improvement located on the property unless complete and final plans and specifications are approved by the Tribe. Following foreclosure of any mortgage on the Authority’s interest under the agreement or any transfer of such interest to the holder of such mortgage in lieu of foreclosure, the property and improvements may be utilized for any lawful purpose, subject to applicable codes and governmental regulations; provided, however, that a non-Indian holder of the property may under no circumstance conduct gaming operations on the property. | |
Permitted Mortgages and Rights of Permitted Mortgagees | |
The Authority may not mortgage, pledge or otherwise encumber its leasehold estate in the property except to a holder of a permitted mortgage. Under the terms of the agreement, permitted mortgages include the leasehold mortgage securing the Authority’s senior secured indebtedness, provided that, among other things: (1) the Tribe will have the right to notice of, and to cure, any default of the Authority; (2) the Tribe will have the right to prior notice of an intention by the holder to foreclose on the permitted mortgage and the right to purchase the mortgage in lieu of any foreclosure; and (3) the permitted mortgage is subject and subordinated to any and all access and utility easements granted by the Tribe under the agreement. Under the terms of the agreement, each holder of a permitted mortgage has the right to notice of any default of the Authority under the agreement and the opportunity to cure such default within the applicable cure period. | |
Default Remedies | |
The Authority will be in default under the agreement if, subject to the notice provisions, it fails to make lease payments or comply with covenants under the agreement or if it pledges, encumbers or conveys its interest in violation of the terms of the agreement. Following a default, the Tribe may, with approval from the Secretary of the Interior, terminate the agreement unless a permitted mortgage remains outstanding with respect to the property. In such case, the Tribe may not: (1) terminate the agreement or the Authority’s right to possession of the property; (2) exercise any right of re-entry; (3) take possession of and/or relet the property or any portion thereof; or (4) enforce any other right or remedy, which may materially and adversely affect the rights of the holder of the permitted mortgage, unless the default triggering such rights was a monetary default of which such holder failed to cure after notice. | |
Litigation | |
The Authority is a defendant in various litigation matters resulting from its normal course of business. In management’s opinion, the aggregate liability, if any, arising from such litigations will not have a material impact on the Authority’s financial position, results of operations or cash flows. |
Relinquishment_Agreement
Relinquishment Agreement | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Relinquishment Agreement | ' | ||||||||||||
NOTE 11—RELINQUISHMENT AGREEMENT: | |||||||||||||
In February 1998, the Authority and TCA entered into a relinquishment agreement (the “Relinquishment Agreement”). Effective January 1, 2000 (the “Relinquishment Date”), the Relinquishment Agreement superseded a then-existing management agreement with TCA. The Relinquishment Agreement provides, among other things, that the Authority make certain payments to TCA out of, and determined as a percentage of, Revenues, as defined under the Relinquishment Agreement, generated by Mohegan Sun over a 15-year period commencing on the Relinquishment Date. The payments (“Senior Relinquishment Payments” and “Junior Relinquishment Payments”) have separate schedules and priorities. Senior Relinquishment Payments commenced on April 25, 2000, 25 days following the end of the first three-month period after the Relinquishment Date, and continue at the end of each three-month period thereafter until January 25, 2015. Junior Relinquishment Payments commenced on July 25, 2000, 25 days following the end of the first six-month period after the Relinquishment Date, and continue at the end of each six-month period thereafter until January 25, 2015. Each Senior and Junior Relinquishment Payment is 2.5% of Revenues generated by Mohegan Sun over the immediate preceding three-month or six-month payment period, as the case may be. Revenues are defined under the Relinquishment Agreement as gross gaming revenues, other than Class II Gaming revenues, and all other revenues, as defined, including, without limitation, hotel revenues, room service revenues, food and beverage revenues, ticket revenues, fees or receipts from the convention/events center and all rental revenues or other receipts from lessees and concessionaires, but not the gross receipts of such lessees, licenses and concessionaires, derived directly or indirectly from the facilities, as defined. Revenues under the Relinquishment Agreement exclude revenues generated from certain expansion areas of Mohegan Sun, such as Casino of the Wind, as such areas do not constitute facilities as defined under the Relinquishment Agreement. | |||||||||||||
In the event of any bankruptcy, liquidation, reorganization or similar proceeding relating to the Authority, the Relinquishment Agreement provides that Senior and Junior Relinquishment Payments then due and owing are subordinated in right of payment to the Authority’s senior secured indebtedness and capital lease obligations, and that Junior Relinquishment Payments then due and owing are further subordinated in right of payment to all of the Authority’s other senior indebtedness. The Relinquishment Agreement also provides that all relinquishment payments are subordinated in right of payment to minimum priority distribution payments, which are required monthly payments made by the Authority to the Tribe under the Priority Distribution Agreement, to the extent then due. The Authority, in accordance with authoritative guidance issued by the FASB pertaining to the accounting for contingencies, recorded a $549.1 million relinquishment liability at September 30, 1998 based on the estimated present value of its obligations under the Relinquishment Agreement. | |||||||||||||
As of September 30, 2013 and 2012, the carrying amount of the relinquishment liability was $74.4 million and $120.8 million, respectively. The decrease in the relinquishment liability during the fiscal year ended September 30, 2013 was due to $51.2 million in relinquishment payments and a $249,000 relinquishment liability reassessment credit. This reduction in the liability was offset by $5.0 million representing the accretion of discount to the relinquishment liability. | |||||||||||||
Relinquishment payments consisted of the following (in millions): | |||||||||||||
For the Fiscal Years Ended | |||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2011 | |||||||||||
Principal | $ | 45.4 | $ | 45.3 | $ | 42.6 | |||||||
Accretion of discount | 5.8 | 9 | 12.4 | ||||||||||
Total | $ | 51.2 | $ | 54.3 | $ | 55 | |||||||
The accretion of discount to the relinquishment liability reflects the accretion of the discount to the present value of the relinquishment liability for the impact of the time value of money. As of September 30, 2013 and 2012, relinquishment payments earned but unpaid were $13.3 million. | |||||||||||||
The relinquishment liability reassessment credits of $249,000, $11.4 million and $8.8 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively, resulted from reductions in Mohegan Sun revenue projections as of the end of each respective fiscal year compared to projections as of the end of the related prior fiscal year. |
Mohegan_Ventures
Mohegan Ventures | 12 Months Ended |
Sep. 30, 2013 | |
Mohegan Ventures-Northwest, Llc Cowlitz Project | ' |
Mohegan Ventures | ' |
NOTE 12—MOHEGAN VENTURES-NORTHWEST, LLC (COWLITZ PROJECT): | |
In July 2004, the Authority formed Mohegan Ventures-NW as its wholly-owned subsidiary. Mohegan Ventures-NW is one of three current members in Salishan-Mohegan, which was formed to participate in the Cowlitz Project, a proposed casino to be owned by the Cowlitz Tribe and to be located in Clark County, Washington. Mohegan Ventures-NW, Salishan Company, LLC, an unrelated entity, and the Tribe hold membership interests in Salishan-Mohegan of 49.15%, 41% and 9.85%, respectively. Salishan-Mohegan holds a 100% membership interest in Salishan-Mohegan Two, which was formed to acquire certain property related to the Cowlitz Project. Salishan-Mohegan is not a restricted entity of the Authority, and therefore, is not a guarantor of the Authority’s debt obligations. | |
In September 2004, Salishan-Mohegan entered into development and management agreements with the Cowlitz Tribe in connection with the Cowlitz Project, which agreements have been amended from time to time. Under the terms of the development agreement, Salishan-Mohegan will assist in securing financing, as well as administer and oversee the planning, designing, development, construction and furnishing of the proposed casino. The development agreement provides for development fees of 3% of total Project Costs, as defined under the development agreement. Under the terms of an operating agreement, development fees will be distributed to Mohegan Ventures-NW. In 2006, Salishan-Mohegan purchased a 152-acre site for the proposed casino, which will be transferred to the Cowlitz Tribe or the United States pursuant to the development agreement. Development of the Cowlitz Project is subject to certain governmental and regulatory approvals, including, but not limited to, negotiation of a gaming compact with the State of Washington and acceptance of land into trust on behalf of the Cowlitz Tribe by the United States Department of the Interior. The development agreement provides for termination of Salishan-Mohegan’s exclusive development rights if the land is not taken into trust by December 31, 2020. Under the terms of the management agreement, Salishan-Mohegan will manage, operate and maintain the proposed casino for a period of seven years following its opening. The management agreement provides for management fees of 24% of Net Revenues, as defined under the management agreement, which approximates net income earned from the Cowlitz Project. Under the terms of the operating agreement, management fees will be allocated to the members of Salishan-Mohegan based on their respective membership interest. The management agreement is subject to approval by the National Indian Gaming Commission (the “NIGC”). | |
Under the terms of the development agreement, certain receivables contributed to Salishan-Mohegan and amounts advanced by Salishan-Mohegan on behalf of the Cowlitz Tribe are reimbursable to Salishan-Mohegan by the Cowlitz Tribe, subject to appropriate approvals defined under the development agreement. Reimbursements are contingent and are to be distributed upon: (1) the receipt of necessary financing for the development of the proposed casino, and (2) the related property being taken into trust by the United States Department of the Interior. The Authority currently accrues interest on the Salishan-Mohegan receivables at an annual rate of 10.0%. | |
On March 13, 2013, two lawsuits challenging a December 2010 decision of the Assistant Secretary—Indian Affairs of the Department of the Interior to take the 152-acre Cowlitz Project site into trust were dismissed on procedural grounds. In April 2013, pursuant to judicial directive, the Department of the Interior issued a new Record of Decision to take the Cowlitz Project site into trust, determining once again that the site will serve as the initial reservation of the Cowlitz Tribe and that the tribe may conduct gaming on such lands under the Indian Gaming Regulatory Act. In June 2013, the plaintiffs in the earlier litigation filed two new lawsuits challenging the new Record of Decision, and, in July 2013, those lawsuits were consolidated. Transfer of the property to the United States remains subject to final action by the Department of the Interior and a stay agreed to in connection with the pending lawsuits. Class III gaming on the property remains subject to the negotiation and federal approval of a compact between the Cowlitz Tribe and the State of Washington. The Authority can provide no assurance that these conditions will be satisfied or that necessary financing for the development of the proposed casino will be obtained. | |
In light of the aforementioned and the uncertainty in the development of the Cowlitz Project, the Authority maintains a reserve for doubtful collection of the Salishan-Mohegan receivables, which is based on the Authority’s estimate of the probability that the receivables will be collected. As of September 30, 2013 and 2012, the Salishan-Mohegan receivables, including accrued interest, totaled $48.0 million and $40.0 million, respectively. As of September 30, 2013 and 2012, related reserves for doubtful collection totaled $14.4 million and $12.0 million, respectively. The Salishan-Mohegan receivables were included in other assets, net, in the accompanying consolidated balance sheets. | |
Mohegan Ventures Wisconsin, Llc Menominee Project | ' |
Mohegan Ventures | ' |
NOTE 13—MOHEGAN VENTURES WISCONSIN, LLC (MENOMINEE PROJECT): | |
In March 2007, the Authority formed MVW as its wholly-owned subsidiary and one of two original members in WTG, which was formed to participate in the Menominee Project, a proposed casino to be owned by the Menominee Tribe and to be located in Kenosha, Wisconsin. MVW now holds 100% membership interest in WTG. MVW and WTG are full and unconditional guarantors of the Authority’s outstanding indebtedness. | |
In connection with the Menominee Project, the Authority entered into a management agreement with the Menominee Tribe and the Menominee Kenosha Gaming Authority (the “MKGA”), and WTG purchased the development rights for the Menominee Project under a development agreement with the Menominee Tribe and the MKGA. In September 2010, WTG entered into a release and reimbursement agreement pursuant to which WTG: (1) relinquished its development rights and was relieved of its development obligations for the Menominee Project; (2) retained its rights to reimbursement of certain receivables related to reimbursable costs and expenses advanced by WTG on behalf of the Menominee Tribe for the Menominee Project, subject to certain conditions; and (3) assigned the option to purchase the proposed Menominee Project site in Kenosha to MKGA. The Authority retained its interest in the management agreement. Due to the uncertainty in the development of the Menominee Project, as of September 30, 2008, the Authority had fully reserved for these receivables and had written-off the related development rights intangible asset. In February 2012, the MKGA terminated its efforts to seek NIGC approval of the management agreement. As of September 30, 2013, the WTG receivables remain fully reserved. |
Investment_in_WNBA_Franchise
Investment in WNBA Franchise | 12 Months Ended |
Sep. 30, 2013 | |
Investment in WNBA Franchise | ' |
NOTE 14—INVESTMENT IN WNBA FRANCHISE: | |
In January 2003, the Authority formed MBC as its wholly-owned subsidiary to own and operate a professional basketball team in the WNBA. In January 2003, the Authority and MBC entered into a Membership Agreement with WNBA, LLC which sets forth the terms and conditions under which MBC acquired its membership in the WNBA and the right to own and operate a team. The Authority guaranteed the obligations of MBC under the Membership Agreement. MBC is a full and unconditional guarantor of the Authority’s outstanding indebtedness. | |
In connection with MBC’s acquisition of its membership in the WNBA and the right to own and operate a team, the Authority estimated the fair value of the initial player roster to be $4.8 million and the remaining $5.5 million of MBC’s aggregate investment was recognized as a franchise value. | |
The player roster value was amortized over seven years and became fully amortized in fiscal 2010. The franchise value is being amortized over thirty years and is assessed for impairment whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. As of September 30, 2013 and 2012, accumulated amortization on the franchise value was $2.0 million and $1.8 million, respectively. Amortization expense associated with the franchise value totaled $183,000 for each of the fiscal years ended September 30, 2013, 2012 and 2011. The Authority expects to incur amortization expenses related to the franchise value of $183,000 for each of the next five fiscal years. The franchise value was included in intangible assets, net, in the accompanying consolidated balance sheets. | |
MBC currently owns approximately 4.2% of the membership interest in WNBA, LLC which is accounted for under the Cost Method. Under the terms of the Limited Liability Company Agreement of WNBA, LLC, if at any time, WNBA, LLC’s Board of Governors determines that additional funds are needed for WNBA, LLC’s or any league entity’s general business, the Board of Governors may require additional cash capital contributions. In such event, each member shall be obligated to contribute to WNBA, LLC an amount of cash equal to that member’s proportionate share of ownership. No such cash capital contribution has been required by WNBA, LLC through September 30, 2013. |
Segment_Reporting
Segment Reporting | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Segment Reporting | ' | ||||||||||||
NOTE 15—SEGMENT REPORTING: | |||||||||||||
As of September 30, 2013, the Authority owns and operates, either directly or through wholly-owned subsidiaries, Mohegan Sun, the Connecticut Sun franchise, and the Mohegan Sun Country Club at Pautipaug (collectively, the “Connecticut Facilities”), and the Pennsylvania Facilities. Substantially all of the Authority’s revenues are derived from these operations. The Connecticut Sun franchise and the Mohegan Sun Country Club at Pautipaug are aggregated with the Mohegan Sun operating segment because these operations all share similar economic characteristics, which is to generate gaming and entertainment revenues by attracting patrons to Mohegan Sun. The Authority’s executive officers review and assess the performance and operating results and determine the proper allocation of resources to the Connecticut Facilities and the Pennsylvania Facilities on a separate basis. Accordingly, the Authority has two separate reportable segments: (1) Mohegan Sun, which includes the operations of the Connecticut Facilities, and (2) Mohegan Sun at Pocono Downs, which includes the operations of the Pennsylvania Facilities. The Authority’s operations related to investments in unconsolidated affiliates and certain other corporate and management operations have not been identified as separate reportable segments, therefore, these operations are included in corporate and other in the following segment disclosures to reconcile to consolidated results. | |||||||||||||
For the Fiscal Years Ended | |||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2011 | |||||||||||
(in thousands) | |||||||||||||
Net revenues: | |||||||||||||
Mohegan Sun | $ | 1,042,078 | $ | 1,084,017 | $ | 1,115,326 | |||||||
Mohegan Sun at Pocono Downs | 296,648 | 314,999 | 303,053 | ||||||||||
Corporate and other | 1,302 | 297 | — | ||||||||||
Total | $ | 1,340,028 | $ | 1,399,313 | $ | 1,418,379 | |||||||
Income (loss) from operations: | |||||||||||||
Mohegan Sun | $ | 212,680 | $ | 199,358 | $ | 223,777 | |||||||
Mohegan Sun at Pocono Downs | 43,763 | 43,296 | 31,491 | ||||||||||
Corporate and other | (26,937 | ) | (17,230 | ) | (16,864 | ) | |||||||
Total | 229,506 | 225,424 | 238,404 | ||||||||||
Accretion of discount to the relinquishment liability | (4,974 | ) | (8,248 | ) | (11,366 | ) | |||||||
Interest income | 6,271 | 4,492 | 2,732 | ||||||||||
Interest expense, net of capitalized interest | (170,150 | ) | (146,057 | ) | (117,710 | ) | |||||||
Loss on early exchange of debt and write-off of debt issuance costs | (11,516 | ) | (14,326 | ) | — | ||||||||
Other expense, net | (1,595 | ) | (44 | ) | (217 | ) | |||||||
Net income | 47,542 | 61,241 | 111,843 | ||||||||||
Loss attributable to non-controlling interests | 2,784 | 2,019 | 2,134 | ||||||||||
Net income attributable to Mohegan Tribal Gaming Authority | $ | 50,326 | $ | 63,260 | $ | 113,977 | |||||||
For the Fiscal Years Ended | |||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2011 | |||||||||||
Capital expenditures incurred: | |||||||||||||
Mohegan Sun | $ | 27,652 | $ | 36,542 | $ | 41,325 | |||||||
Mohegan Sun at Pocono Downs | 4,673 | 3,543 | 5,152 | ||||||||||
Corporate | 33,728 | 3,557 | — | ||||||||||
Total | $ | 66,053 | $ | 43,642 | $ | 46,477 | |||||||
September 30, 2013 | September 30, 2012 | ||||||||||||
Total assets: | |||||||||||||
Mohegan Sun | $ | 1,425,152 | $ | 1,484,369 | |||||||||
Mohegan Sun at Pocono Downs | 558,700 | 570,078 | |||||||||||
Corporate | 152,298 | 181,699 | |||||||||||
Total | $ | 2,136,150 | $ | 2,236,146 | |||||||||
Supplemental_Condensed_Consoli
Supplemental Condensed Consolidating Financial Statement Information | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Supplemental Condensed Consolidating Financial Statement Information | ' | ||||||||||||||||||||
NOTE 16—SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL STATEMENT INFORMATION: | |||||||||||||||||||||
As of September 30, 2013, substantially all of the Authority’s outstanding debt is fully and unconditionally guaranteed, on a joint and several basis, by the following 100% owned subsidiaries of the Authority: the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. The Authority’s 2001 8 3⁄8% Senior Subordinated Notes, which were repaid at maturity on July 1, 2011, were fully and unconditionally guaranteed by MBC. Separate financial statements and other disclosures concerning the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming are not presented below because the Authority believes that the summarized financial information provided below and in Note 15 are adequate for investor analysis of these subsidiaries. Condensed consolidating financial statement information for the Authority, its 100% owned guarantor subsidiaries and its non-guarantor subsidiaries and entities as of September 30, 2013 and 2012 and for the fiscal years ended September 30, 2013, 2012 and 2011 is as follows (in thousands): | |||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEETS | |||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||
Authority | Total | Total | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Non-Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Subsidiaries | Adjustments | |||||||||||||||||||
and Entities (2) | |||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 44,060 | $ | 18,655 | $ | 909 | $ | — | $ | 63,624 | |||||||||||
Restricted cash | — | 1,714 | 12,043 | — | 13,757 | ||||||||||||||||
Receivables, net | 23,186 | 2,717 | 239 | — | 26,142 | ||||||||||||||||
Inventories | 12,928 | 1,062 | — | — | 13,990 | ||||||||||||||||
Other current assets | 18,125 | 1,197 | 1,196 | — | 20,518 | ||||||||||||||||
Total current assets | 98,299 | 25,345 | 14,387 | — | 138,031 | ||||||||||||||||
Non-current assets: | |||||||||||||||||||||
Property and equipment, net | 1,193,676 | 225,263 | 57,236 | — | 1,476,175 | ||||||||||||||||
Goodwill | — | 39,459 | — | — | 39,459 | ||||||||||||||||
Other intangible assets, net | 120,508 | 285,010 | — | — | 405,518 | ||||||||||||||||
Other assets, net | 35,159 | 3,891 | 38,127 | (210 | ) | 76,967 | |||||||||||||||
Intercompany receivables | 238,545 | 37,149 | — | (275,694 | ) | — | |||||||||||||||
Investment in subsidiaries | 332,737 | — | — | (332,737 | ) | — | |||||||||||||||
Total assets | $ | 2,018,924 | $ | 616,117 | $ | 109,750 | $ | (608,641 | ) | $ | 2,136,150 | ||||||||||
LIABILITIES AND CAPITAL | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Current portion of long-term debt | $ | 25,156 | $ | — | $ | 63 | $ | — | $ | 25,219 | |||||||||||
Current portion of relinquishment liability | 62,947 | — | — | — | 62,947 | ||||||||||||||||
Due to Mohegan Tribe | 808 | — | 5,500 | — | 6,308 | ||||||||||||||||
Current portion of capital leases | 2,302 | — | — | — | 2,302 | ||||||||||||||||
Trade payables | 8,901 | 1,613 | 17 | — | 10,531 | ||||||||||||||||
Construction payables | 6,790 | 558 | 3,663 | — | 11,011 | ||||||||||||||||
Accrued interest payable | 18,616 | — | 4,680 | — | 23,296 | ||||||||||||||||
Other current liabilities | 93,377 | 29,580 | 1,025 | — | 123,982 | ||||||||||||||||
Total current liabilities | 218,897 | 31,751 | 14,948 | — | 265,596 | ||||||||||||||||
Non-current liabilities: | |||||||||||||||||||||
Long-term debt, net of current portion | 1,582,768 | — | 45,405 | — | 1,628,173 | ||||||||||||||||
Relinquishment liability, net of current portion | 11,418 | — | — | — | 11,418 | ||||||||||||||||
Due to Mohegan Tribe, net of current portion | — | — | 23,420 | — | 23,420 | ||||||||||||||||
Capital leases, net of current portion | 3,138 | — | — | — | 3,138 | ||||||||||||||||
Other long-term liabilities | 2,941 | — | 2,079 | — | 5,020 | ||||||||||||||||
Intercompany payables | — | 236,772 | 38,922 | (275,694 | ) | — | |||||||||||||||
Accumulated losses in excess of investment in subsidiaries | — | 6,832 | — | (6,832 | ) | — | |||||||||||||||
Total liabilities | 1,819,162 | 275,355 | 124,774 | (282,526 | ) | 1,936,765 | |||||||||||||||
Capital: | |||||||||||||||||||||
Retained earnings | 199,762 | 340,762 | (15,024 | ) | (326,264 | ) | 199,236 | ||||||||||||||
Mohegan Tribal Gaming Authority capital | 199,762 | 340,762 | (15,024 | ) | (326,264 | ) | 199,236 | ||||||||||||||
Non-controlling interests | — | — | — | 149 | 149 | ||||||||||||||||
Total capital | 199,762 | 340,762 | (15,024 | ) | (326,115 | ) | 199,385 | ||||||||||||||
Total liabilities and capital | $ | 2,018,924 | $ | 616,117 | $ | 109,750 | $ | (608,641 | ) | $ | 2,136,150 | ||||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
30-Sep-12 | |||||||||||||||||||||
Authority | Total | Total | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Non-Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Subsidiaries | Adjustments | |||||||||||||||||||
and Entities (2) | |||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Property and equipment, net | $ | 1,233,688 | $ | 233,202 | $ | 23,508 | $ | — | $ | 1,490,398 | |||||||||||
Intercompany receivables | 223,131 | 12,448 | — | (235,579 | ) | — | |||||||||||||||
Investment in subsidiaries | 351,703 | 557 | — | (352,260 | ) | — | |||||||||||||||
Other intangible assets, net | 120,623 | 285,305 | — | — | 405,928 | ||||||||||||||||
Other assets, net | 191,015 | 71,673 | 77,342 | (210 | ) | 339,820 | |||||||||||||||
Total assets | $ | 2,120,160 | $ | 603,185 | $ | 100,850 | $ | (588,049 | ) | $ | 2,236,146 | ||||||||||
LIABILITIES AND CAPITAL | |||||||||||||||||||||
Current liabilities | $ | 261,433 | $ | 32,771 | $ | 6,359 | $ | — | $ | 300,563 | |||||||||||
Due to Mohegan Tribe | — | — | 31,450 | — | 31,450 | ||||||||||||||||
Long-term debt and capital leases, net of current portions | 1,589,443 | — | 45,000 | — | 1,634,443 | ||||||||||||||||
Relinquishment liability, net of current portion | 57,470 | — | — | — | 57,470 | ||||||||||||||||
Intercompany payables | — | 222,787 | 12,792 | (235,579 | ) | — | |||||||||||||||
Other long-term liabilities | 2,607 | — | 350 | — | 2,957 | ||||||||||||||||
Total liabilities | 1,910,953 | 255,558 | 95,951 | (235,579 | ) | 2,026,883 | |||||||||||||||
Mohegan Tribal Gaming Authority capital | 209,207 | 347,627 | 4,899 | (353,052 | ) | 208,681 | |||||||||||||||
Non-controlling interests | — | — | — | 582 | 582 | ||||||||||||||||
Total liabilities and capital | $ | 2,120,160 | $ | 603,185 | $ | 100,850 | $ | (588,049 | ) | $ | 2,236,146 | ||||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF INCOME | |||||||||||||||||||||
For the Fiscal Year Ended September 30, 2013 | |||||||||||||||||||||
Authority | Total | Total | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Non-Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Subsidiaries | Adjustments | |||||||||||||||||||
and Entities (2) | |||||||||||||||||||||
Revenues: | |||||||||||||||||||||
Gaming | $ | 911,180 | $ | 279,022 | $ | — | $ | — | $ | 1,190,202 | |||||||||||
Food and beverage | 59,334 | 26,917 | — | — | 86,251 | ||||||||||||||||
Hotel | 40,873 | — | — | — | 40,873 | ||||||||||||||||
Retail, entertainment and other | 100,545 | 16,679 | 1,575 | (240 | ) | 118,559 | |||||||||||||||
Gross revenues | 1,111,932 | 322,618 | 1,575 | (240 | ) | 1,435,885 | |||||||||||||||
Less-Promotional allowances | (76,407 | ) | (17,300 | ) | (4 | ) | (2,146 | ) | (95,857 | ) | |||||||||||
Net revenues | 1,035,525 | 305,318 | 1,571 | (2,386 | ) | 1,340,028 | |||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||
Gaming | 507,069 | 201,860 | — | — | 708,929 | ||||||||||||||||
Food and beverage | 33,297 | 8,280 | (2 | ) | — | 41,575 | |||||||||||||||
Hotel | 14,339 | — | — | — | 14,339 | ||||||||||||||||
Retail, entertainment and other | 40,371 | 5,589 | — | (2,101 | ) | 43,859 | |||||||||||||||
Advertising, general and administrative | 159,869 | 32,997 | 13,373 | (13,566 | ) | 192,673 | |||||||||||||||
Corporate | 14,841 | — | — | 13,281 | 28,122 | ||||||||||||||||
Depreciation and amortization | 67,097 | 13,220 | — | — | 80,317 | ||||||||||||||||
Loss on disposition of assets | 222 | 19 | — | — | 241 | ||||||||||||||||
Severance | (146 | ) | 175 | — | — | 29 | |||||||||||||||
Pre-opening | — | 687 | — | — | 687 | ||||||||||||||||
Relinquishment liability reassessment | (249 | ) | — | — | — | (249 | ) | ||||||||||||||
Total operating costs and expenses | 836,710 | 262,827 | 13,371 | (2,386 | ) | 1,110,522 | |||||||||||||||
Income (loss) from operations | 198,815 | 42,491 | (11,800 | ) | — | 229,506 | |||||||||||||||
Other income (expense): | |||||||||||||||||||||
Accretion of discount to the relinquishment liability | (4,974 | ) | — | — | — | (4,974 | ) | ||||||||||||||
Interest income | 146 | 2,320 | 6,064 | (2,259 | ) | 6,271 | |||||||||||||||
Interest expense, net of capitalized interest | (118,303 | ) | (44,126 | ) | (9,980 | ) | 2,259 | (170,150 | ) | ||||||||||||
Loss on early exchange of debt and write-off of debt issuance costs | (11,516 | ) | — | — | — | (11,516 | ) | ||||||||||||||
Loss on interests in subsidiaries | (13,834 | ) | (7,389 | ) | — | 21,223 | — | ||||||||||||||
Other expense, net | (8 | ) | — | (1,587 | ) | — | (1,595 | ) | |||||||||||||
Total other expense | (148,489 | ) | (49,195 | ) | (5,503 | ) | 21,223 | (181,964 | ) | ||||||||||||
Net income (loss) | 50,326 | (6,704 | ) | (17,303 | ) | 21,223 | 47,542 | ||||||||||||||
Loss attributable to non-controlling interests | — | — | — | 2,784 | 2,784 | ||||||||||||||||
Net income (loss) attributable to Mohegan Tribal Gaming Authority | $ | 50,326 | $ | (6,704 | ) | $ | (17,303 | ) | $ | 24,007 | $ | 50,326 | |||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
For the Fiscal Year Ended September 30, 2012 | |||||||||||||||||||||
Authority | Total | Total | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Non-Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Subsidiaries | Adjustments | |||||||||||||||||||
and Entities (2) | |||||||||||||||||||||
Net revenues | $ | 1,079,411 | $ | 321,563 | $ | 285 | $ | (1,946 | ) | $ | 1,399,313 | ||||||||||
Operating costs and expenses: | |||||||||||||||||||||
Gaming and other operations | 643,557 | 230,263 | — | (1,946 | ) | 871,874 | |||||||||||||||
Advertising, general and administrative | 177,486 | 33,272 | 4,582 | 210 | 215,550 | ||||||||||||||||
Depreciation and amortization | 68,666 | 16,364 | — | — | 85,030 | ||||||||||||||||
Loss on disposition of assets | 68 | 285 | — | — | 353 | ||||||||||||||||
Severance | 12,521 | — | — | — | 12,521 | ||||||||||||||||
Relinquishment liability reassessment | (11,439 | ) | — | — | — | (11,439 | ) | ||||||||||||||
Total operating costs and expenses | 890,859 | 280,184 | 4,582 | (1,736 | ) | 1,173,889 | |||||||||||||||
Income (loss) from operations | 188,552 | 41,379 | (4,297 | ) | (210 | ) | 225,424 | ||||||||||||||
Accretion of discount to the relinquishment liability | (8,248 | ) | — | — | — | (8,248 | ) | ||||||||||||||
Interest expense, net of capitalized interest | (72,520 | ) | (69,533 | ) | (4,979 | ) | 975 | (146,057 | ) | ||||||||||||
Loss on early exchange of debt and write-off of debt issuance costs | (14,326 | ) | — | — | — | (14,326 | ) | ||||||||||||||
Loss on interests in subsidiaries | (30,498 | ) | (1,944 | ) | — | 32,442 | — | ||||||||||||||
Other income, net | 300 | 1,051 | 4,072 | (975 | ) | 4,448 | |||||||||||||||
Net income (loss) | 63,260 | (29,047 | ) | (5,204 | ) | 32,232 | 61,241 | ||||||||||||||
Loss attributable to non-controlling interests | — | — | — | 2,019 | 2,019 | ||||||||||||||||
Net income (loss) attributable to Mohegan Tribal Gaming Authority | $ | 63,260 | $ | (29,047 | ) | $ | (5,204 | ) | $ | 34,251 | $ | 63,260 | |||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
For the Fiscal Year Ended September 30, 2011 | |||||||||||||||||||||
Authority | Total | Total Non | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Entities (2) | Adjustments | |||||||||||||||||||
Net revenues | $ | 1,112,021 | $ | 308,274 | $ | — | $ | (1,916 | ) | $ | 1,418,379 | ||||||||||
Operating costs and expenses: | |||||||||||||||||||||
Gaming and other operations | 656,319 | 225,405 | — | (1,916 | ) | 879,808 | |||||||||||||||
Advertising, general and administrative | 183,246 | 31,491 | 3,959 | — | 218,696 | ||||||||||||||||
Depreciation and amortization | 69,388 | 20,644 | — | — | 90,032 | ||||||||||||||||
Severance | 244 | — | — | — | 244 | ||||||||||||||||
Relinquishment liability reassessment | (8,805 | ) | — | — | — | (8,805 | ) | ||||||||||||||
Total operating costs and expenses | 900,392 | 277,540 | 3,959 | (1,916 | ) | 1,179,975 | |||||||||||||||
Income (loss) from operations | 211,629 | 30,734 | (3,959 | ) | — | 238,404 | |||||||||||||||
Accretion of discount to the relinquishment liability | (11,366 | ) | — | — | — | (11,366 | ) | ||||||||||||||
Interest expense, net of capitalized interest | (60,859 | ) | (54,713 | ) | (2,798 | ) | 660 | (117,710 | ) | ||||||||||||
Loss on interests in subsidiaries | (25,311 | ) | (2,053 | ) | — | 27,364 | — | ||||||||||||||
Other income (expense), net | (116 | ) | 721 | 2,570 | (660 | ) | 2,515 | ||||||||||||||
Net income (loss) | 113,977 | (25,311 | ) | (4,187 | ) | 27,364 | 111,843 | ||||||||||||||
Loss attributable to non-controlling interests | — | — | — | 2,134 | 2,134 | ||||||||||||||||
Net income (loss) attributable to Mohegan Tribal Gaming Authority | $ | 113,977 | $ | (25,311 | ) | $ | (4,187 | ) | $ | 29,498 | $ | 113,977 | |||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | |||||||||||||||||||||
For the Fiscal Year Ended September 30, 2013 | |||||||||||||||||||||
Authority | Total | Total | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Non-Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Subsidiaries | Adjustments | |||||||||||||||||||
and Entities (2) | |||||||||||||||||||||
Cash flows provided by (used in) operating activities: | |||||||||||||||||||||
Net income | $ | 50,326 | (6,704 | ) | (17,303 | ) | 21,223 | 47,542 | |||||||||||||
Adjustments to reconcile net income to net cash flows provided by operating activities: | |||||||||||||||||||||
Depreciation and amortization | 67,097 | 13,220 | — | — | 80,317 | ||||||||||||||||
Relinquishment liability reassessment | (249 | ) | — | — | — | (249 | ) | ||||||||||||||
Accretion of discount to the relinquishment liability | 4,974 | — | — | — | 4,974 | ||||||||||||||||
Cash paid for accretion of discount to the relinquishment liability | (5,792 | ) | — | — | — | (5,792 | ) | ||||||||||||||
Payment of tender offer costs | (3,104 | ) | — | — | — | (3,104 | ) | ||||||||||||||
Loss on early exchange of debt and write-off of debt issuance costs | 4,531 | — | — | — | 4,531 | ||||||||||||||||
Amortization of debt issuance costs and accretion of bond discounts | 11,968 | — | 317 | — | 12,285 | ||||||||||||||||
Amortization of net deferred gain on settlement of derivative instruments | (76 | ) | — | — | — | (76 | ) | ||||||||||||||
Provision for losses on receivables | 951 | 103 | 2,382 | — | 3,436 | ||||||||||||||||
Loss on disposition of assets | 222 | 19 | — | — | 241 | ||||||||||||||||
Loss from unconsolidated affiliates | (11 | ) | — | 1,564 | — | 1,553 | |||||||||||||||
Changes in operating assets and liabilities: | |||||||||||||||||||||
(Increase) decrease in receivables | 495 | (1,011 | ) | (132 | ) | — | (648 | ) | |||||||||||||
Decrease in inventories | 326 | 122 | — | — | 448 | ||||||||||||||||
(Increase) decrease in other assets | 8,255 | 41 | (5,537 | ) | — | 2,759 | |||||||||||||||
Increase (decrease) in trade payables | (2,367 | ) | 265 | (41 | ) | — | (2,143 | ) | |||||||||||||
Increase (decrease) in accrued interest | (23,183 | ) | — | 117 | — | (23,066 | ) | ||||||||||||||
Increase (decrease) in other liabilities | (21,440 | ) | (773 | ) | 2,156 | — | (20,057 | ) | |||||||||||||
Other cash flows provided by (used in) operating activities | (30,508 | ) | 49,282 | 2,449 | (21,223 | ) | — | ||||||||||||||
Net cash flows provided by (used in) operating activities | 62,415 | 54,564 | (14,028 | ) | — | 102,951 | |||||||||||||||
Cash flows provided by (used in) investing activities: | |||||||||||||||||||||
Purchases of property and equipment, net of change in construction payables | (24,774 | ) | (4,481 | ) | (30,342 | ) | — | (59,597 | ) | ||||||||||||
Issuance of third-party loans and advances | — | — | (2,033 | ) | — | (2,033 | ) | ||||||||||||||
Payments received on third-party loans | 139 | — | — | — | 139 | ||||||||||||||||
(Increase) decrease in restricted cash, net | — | (423 | ) | 33,501 | — | 33,078 | |||||||||||||||
Proceeds from asset sales | 208 | 8 | — | — | 216 | ||||||||||||||||
Investments in unconsolidated affiliates | — | — | (4,971 | ) | — | (4,971 | ) | ||||||||||||||
Other cash flows provided by (used in) investing activities | 24,289 | (22,468 | ) | — | (1,821 | ) | — | ||||||||||||||
Net cash flows used in investing activities | (138 | ) | (27,364 | ) | (3,845 | ) | (1,821 | ) | (33,168 | ) | |||||||||||
Cash flows provided by (used in) financing activities: | |||||||||||||||||||||
Bank Credit Facility borrowings—revolving loan | 3,000 | — | — | — | 3,000 | ||||||||||||||||
Bank Credit Facility repayments—revolving loan | (3,000 | ) | — | — | — | (3,000 | ) | ||||||||||||||
Bank Credit Facility repayments—term loan | (4,000 | ) | — | — | — | (4,000 | ) | ||||||||||||||
Line of Credit borrowings | 24,897 | — | — | — | 24,897 | ||||||||||||||||
Line of Credit repayments | (24,897 | ) | — | — | — | (24,897 | ) | ||||||||||||||
Repayments to Mohegan Tribe | — | — | (9,950 | ) | — | (9,950 | ) | ||||||||||||||
Proceeds from issuance of Senior Unsecured Notes | 500,000 | — | — | — | 500,000 | ||||||||||||||||
Repayments of other long-term debt | (495,561 | ) | — | (40 | ) | — | (495,601 | ) | |||||||||||||
Principal portion of relinquishment liability payments | (45,350 | ) | — | — | — | (45,350 | ) | ||||||||||||||
Distributions to Mohegan Tribe | (50,000 | ) | — | — | — | (50,000 | ) | ||||||||||||||
Payments of financing fees | (11,757 | ) | — | (200 | ) | — | (11,957 | ) | |||||||||||||
Payments on capital lease obligations | (3,385 | ) | — | — | — | (3,385 | ) | ||||||||||||||
Other cash flows provided by (used in) financing activities | — | (30,302 | ) | 28,481 | 1,821 | — | |||||||||||||||
Net cash flows provided by (used in) financing activities | (110,053 | ) | (30,302 | ) | 18,291 | 1,821 | (120,243 | ) | |||||||||||||
Net increase (decrease) in cash and cash equivalents | (47,776 | ) | (3,102 | ) | 418 | — | (50,460 | ) | |||||||||||||
Cash and cash equivalents at beginning of year | 91,836 | 21,757 | 491 | — | 114,084 | ||||||||||||||||
Cash and cash equivalents at end of year | $ | 44,060 | $ | 18,655 | $ | 909 | $ | — | $ | 63,624 | |||||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
For the Fiscal Year Ended September 30, 2012 | |||||||||||||||||||||
Authority | Total | Total | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Non-Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Subsidiaries | Adjustments | |||||||||||||||||||
and Entities (2) | |||||||||||||||||||||
Net cash flows provided by (used in) operating activities | $ | 122,057 | $ | 59,240 | $ | (4,300 | ) | $ | — | $ | 176,997 | ||||||||||
Cash flows provided by (used in) investing activities: | |||||||||||||||||||||
Purchases of property and equipment, net of change in construction payables | (37,523 | ) | (7,175 | ) | (2,773 | ) | — | (47,471 | ) | ||||||||||||
(Increase) decrease in restricted cash, net | — | 313 | (45,544 | ) | — | (45,231 | ) | ||||||||||||||
Other cash flows provided by (used in) investing activities | 53,718 | 3,372 | (902 | ) | (54,822 | ) | 1,366 | ||||||||||||||
Net cash flows provided by (used in) investing activities | 16,195 | (3,490 | ) | (49,219 | ) | (54,822 | ) | (91,336 | ) | ||||||||||||
Cash flows provided by (used in) financing activities: | |||||||||||||||||||||
Bank Credit Facility borrowings—revolving loan | 154,000 | — | — | — | 154,000 | ||||||||||||||||
Bank Credit Facility repayments—revolving loan | (289,000 | ) | — | — | — | (289,000 | ) | ||||||||||||||
Bank Credit Facility repayments—term loan | (3,000 | ) | — | — | — | (3,000 | ) | ||||||||||||||
Term Loan Facility borrowings, net of discount | 220,500 | — | — | — | 220,500 | ||||||||||||||||
Line of Credit borrowings | 225,215 | — | — | — | 225,215 | ||||||||||||||||
Line of Credit repayments | (225,215 | ) | — | — | — | (225,215 | ) | ||||||||||||||
Borrowings from Mohegan Tribe | — | — | 20,600 | — | 20,600 | ||||||||||||||||
Payments on long-term debt | (66,454 | ) | — | — | — | (66,454 | ) | ||||||||||||||
Salishan-Mohegan Bank Credit Facility repayments— revolving loan | — | — | (15,250 | ) | — | (15,250 | ) | ||||||||||||||
Downs Lodging Credit Facility borrowings—term loan | — | — | 45,000 | — | 45,000 | ||||||||||||||||
Principal portion of relinquishment liability payments | (45,258 | ) | — | — | — | (45,258 | ) | ||||||||||||||
Distributions to Mohegan Tribe | (52,950 | ) | — | — | — | (52,950 | ) | ||||||||||||||
Payments of financing fees | (50,440 | ) | — | (1,073 | ) | — | (51,513 | ) | |||||||||||||
Other cash flows provided by (used in) financing activities | (2,832 | ) | (56,924 | ) | 4,508 | 54,822 | (426 | ) | |||||||||||||
Net cash flows provided by (used in) financing activities | (135,434 | ) | (56,924 | ) | 53,785 | 54,822 | (83,751 | ) | |||||||||||||
Net increase (decrease) in cash and cash equivalents | 2,818 | (1,174 | ) | 266 | — | 1,910 | |||||||||||||||
Cash and cash equivalents at beginning of year | 89,018 | 22,931 | 225 | — | 112,174 | ||||||||||||||||
Cash and cash equivalents at end of year | $ | 91,836 | $ | 21,757 | $ | 491 | $ | — | $ | 114,084 | |||||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
For the Fiscal Year Ended September 30, 2011 | |||||||||||||||||||||
Authority | Total | Total Non | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Entities (2) | Adjustments | |||||||||||||||||||
Net cash flows provided by (used in) operating activities | $ | 149,111 | $ | 49,528 | $ | (4,361 | ) | $ | — | $ | 194,278 | ||||||||||
Cash flows provided by (used in) investing activities: | |||||||||||||||||||||
Purchases of property and equipment, net of change in construction payables | (37,530 | ) | (14,463 | ) | — | — | (51,993 | ) | |||||||||||||
Other cash flows provided by (used in) investing activities | 35,936 | 1 | (656 | ) | (35,465 | ) | (184 | ) | |||||||||||||
Net cash flows used in investing activities | (1,594 | ) | (14,462 | ) | (656 | ) | (35,465 | ) | (52,177 | ) | |||||||||||
Cash flows provided by (used in) financing activities: | |||||||||||||||||||||
Bank Credit Facility borrowings—revolving loan | 431,000 | — | — | — | 431,000 | ||||||||||||||||
Bank Credit Facility repayments—revolving loan | (423,000 | ) | — | — | — | (423,000 | ) | ||||||||||||||
Line of Credit borrowings | 525,913 | — | — | — | 525,913 | ||||||||||||||||
Line of Credit repayments | (533,300 | ) | — | — | — | (533,300 | ) | ||||||||||||||
Principal portion of relinquishment liability payments | (42,644 | ) | — | — | — | (42,644 | ) | ||||||||||||||
Distributions to Mohegan Tribe | (47,050 | ) | — | — | — | (47,050 | ) | ||||||||||||||
Other cash flows provided by (used in) financing activities | (8,564 | ) | (36,452 | ) | 4,808 | 35,465 | (4,743 | ) | |||||||||||||
Net cash flows provided by (used in) financing activities | (97,645 | ) | (36,452 | ) | 4,808 | 35,465 | (93,824 | ) | |||||||||||||
Net increase (decrease) in cash and cash equivalents | 49,872 | (1,386 | ) | (209 | ) | — | 48,277 | ||||||||||||||
Cash and cash equivalents at beginning of year | 39,146 | 24,317 | 434 | — | 63,897 | ||||||||||||||||
Cash and cash equivalents at end of year | $ | 89,018 | $ | 22,931 | $ | 225 | $ | — | $ | 112,174 | |||||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2013 | |
Subsequent Events | ' |
NOTE 17—SUBSEQUENT EVENTS: | |
On November 19, 2013, the Authority completed certain refinancing transactions relating to its Bank Credit Facility, Term Loan Facility and 2009 and 2012 Second Lien Notes: | |
Senior Secured Credit Facilities | |
On November 19, 2013, the Authority entered into a loan agreement among the Authority, the Tribe, the Guarantors, RBS Citizens, N.A. as Administrative and Collateral agent, and the other lenders and financial institutions party thereto, providing for $955 million in aggregate principal amount of senior secured credit facilities (the “Senior Secured Credit Facilities”), comprised of a $100 million senior secured revolving credit facility (the “Revolving Facility”), a $125 million senior secured term loan A facility (the “Term Loan A Facility”), and a $730 million senior secured term loan B facility (the “Term Loan B Facility”). The Senior Secured Credit Facilities mature on July 15, 2018, subject to extension based on the satisfaction of certain conditions to November 19, 2018 (in the case of the Revolving Facility and the Term Loan A Facility) and November 19, 2019 (in the case of the Term Loan B Facility). | |
The Term Loan A Facility will amortize in equal quarterly installments in an aggregate annual amount equal to 5.0% of the original principal amount for the first year after the closing date, 7.5% of the original principal amount for the second year after the closing date, and 10.0% of the original principal amount in each year thereafter, with the balance payable on the maturity date of the Term Loan A Facility. The Term Loan B Facility will amortize in equal quarterly installments in an aggregate annual amount equal to 1.0% of the original principal amount. Amortization of the Term Loan A Facility and Term Loan B Facility will begin with the first full fiscal quarter after the closing date. The proceeds from the Term Loan A Facility and Term Loan B Facility, together with a drawing under the Revolving Facility, were used to repurchase or redeem all of the Authority’s outstanding 2009 Second Lien Notes and 2012 Second Lien Notes, to otherwise satisfy and discharge the obligations in respect of such notes and to satisfy in full all amounts due under the Authority’s Bank Credit Facility and Term Loan Facility, and to pay related fees and expenses. The Revolving Facility will otherwise be available for general corporate purposes. | |
Borrowings under the Senior Secured Credit Facilities will incur interest as follows: (i) for base rate loans under the Revolving Facility and Term Loan A Facility, a base rate equal to the highest of (a) the prime rate, (b) the federal funds rate plus 50 basis points and (c) the one-month LIBOR rate plus 100 basis points (the highest of (a), (b) and (c), the “base rate”), plus a leverage-based margin of 250 to 350 basis points; (ii) for Eurodollar rate loans under the Revolving Facility and Term Loan A Facility, the applicable LIBOR rate plus a leverage-based margin of 350 to 450 basis points; (iii) for base rate loans under the Term Loan B Facility, the base rate (subject to a 2.00% floor) plus 350 basis points; and (iv) for Eurodollar loans under the Term Loan B Facility, the applicable LIBOR rate (subject to a 1.0% LIBOR floor) plus 450 basis points. The Authority also is required to pay a leverage-based commitment fee of between 37.5 and 50 basis points for unused commitments under the Revolving Facility. Interest on Eurodollar rate loans will be payable at the end of each applicable interest period for periods of three months or less and for loans of more than three months, at intervals of three months duration after the beginning of such interest period. Interest on base rate loans will be payable quarterly in arrears. | |
The Authority’s obligations under the Senior Secured Credit Facilities are fully and unconditionally guaranteed, jointly and severally, by each of the Guarantors. The collateral securing the Senior Secured Credit Facilities constitutes substantially all of the Authority’s and Grantors’ property and assets. | |
The Senior Secured Credit Facilities contain customary covenants applicable to the Authority and its restricted subsidiaries, including covenants governing: incurrence of indebtedness, incurrence of liens, payment of dividends and other distributions, investments, asset sales, affiliate transactions, mergers or consolidations and capital expenditures. Additionally, the Senior Secured Credit Facilities include financial maintenance covenants pertaining to total leverage, secured leverage and minimum fixed charge coverage. | |
Line of Credit | |
On November 19, 2013, the Authority entered into a new $16.5 million revolving credit facility with Bank of America, N.A. (the “Line of Credit”). The Line of Credit is coterminous with the Senior Secured Credit Facilities. Pursuant to provisions of the Senior Secured Credit Facilities, under certain circumstances, the Line of Credit may be converted into loans under the Senior Secured Credit Facilities. Under the Line of Credit, each advance accrues interest on the basis of a one-month LIBOR Rate plus an applicable margin based on the Authority’s total leverage ratio, as each term is defined under the Line of Credit. Borrowings under the Line of Credit are uncollateralized obligations. | |
Satisfaction and Discharge of 2012 Second Lien Notes | |
On November 19, 2013, the Authority completed a tender offer and consent solicitation for any or all of its outstanding 2012 Second Lien Notes. Pursuant to this transaction, the Authority, the Guarantors, the Mohegan Tribe and the trustee for the 2012 Second Lien Notes consummated the consent solicitation by entering into that certain Supplemental Indenture No. 2 to the 2012 Second Lien Notes (the “2012 Second Lien Notes Supplemental Indenture”). The 2012 Second Lien Notes Supplemental Indenture eliminated a substantial number of the covenants in the 2012 Second Lien Notes indenture, including covenants limiting the ability of the Authority and its restricted subsidiaries to incur additional debt, pay dividends or distributions, make certain investments, create liens on assets, enter into transactions with affiliates, merge or consolidate with another company, or transfer and sell assets. On November 19, 2013, the Authority called for redemption all of the 2012 Second Lien Notes that were not validly tendered by the early tender deadline for the transaction. The Authority satisfied and discharged the 2012 Second Lien Notes indenture by depositing with the trustee sufficient funds to fund the redemption on December 19, 2013 and to pay accrued interest on the redeemed notes to the redemption date. Upon the satisfaction and discharge of the 2012 Second Lien Notes, the liens in favor of the collateral agent for the 2012 Second Lien Notes on the assets of the Authority and its subsidiaries that guaranteed the 2012 Second Lien Notes were automatically released. The aggregate principal amount of 2012 Second Lien Notes repurchased or redeemed was $199.8 million. | |
Satisfaction and Discharge of 2009 Second Lien Notes | |
On November 19, 2013, the Authority called for redemption all $200,000 of its outstanding 2009 Second Lien Notes. The Authority satisfied and discharged the 2009 Second Lien Notes indenture by depositing with the trustee sufficient funds to fund the redemption of the 2009 Second Lien Notes on December 19, 2013 and to pay accrued interest on the redeemed notes to the redemption date. In connection therewith, the liens in favor of the collateral agent for the 2009 Second Lien Notes on the assets of the Authority and its subsidiaries that guaranteed the 2009 Second Lien Notes were automatically released. | |
Transaction Costs | |
The Authority incurred approximately $60.9 million in costs in connection with these refinancing transactions, consisting primarily of consulting, legal and tender and consent fees. In addition, at the date of these refinancing transactions, the Authority had approximately $12.8 million in debt discounts and $15.3 million in unamortized debt issuance costs related to the various debt that were refinanced. Although the Authority has not yet completed its evaluation, it expects that a portion of the costs incurred in connection with these refinancing transactions, as well as previously deferred debt discounts and debt issuance costs, will be expensed in the first quarter of 2014. |
Schedule_IIValuation_and_Quali
Schedule II-Valuation and Qualifying Accounts and Reserves | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Schedule II-Valuation and Qualifying Accounts and Reserves | ' | ||||||||||||||||
MOHEGAN TRIBAL GAMING AUTHORITY | |||||||||||||||||
SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS AND RESERVES | |||||||||||||||||
FOR THE FISCAL YEARS ENDED SEPTEMBER 30, 2013, 2012 and 2011 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Column A | Column B | Column C | Column D | ||||||||||||||
Balances at | Charges to | Deductions | Balances | ||||||||||||||
Beginning | Costs and | from | at End | ||||||||||||||
of Year | Expenses | Reserves (1) | of Year | ||||||||||||||
Description: | |||||||||||||||||
Fiscal Year ended September 30, 2013 | |||||||||||||||||
Reserves and allowances deducted from asset accounts: | |||||||||||||||||
Reserves for uncollectible accounts: | $ | 30,998 | $ | 3,436 | $ | 14 | $ | 34,420 | |||||||||
Fiscal Year ended September 30, 2012 | |||||||||||||||||
Reserves and allowances deducted from asset accounts: | |||||||||||||||||
Reserves for uncollectible accounts: | $ | 30,737 | $ | 3,189 | $ | 2,928 | $ | 30,998 | |||||||||
Fiscal Year Ended September 30, 2011 | |||||||||||||||||
Reserves and allowances deducted from asset accounts: | |||||||||||||||||
Reserves for uncollectible accounts: | $ | 29,588 | $ | 3,128 | $ | 1,979 | $ | 30,737 | |||||||||
-1 | Deductions from reserves include write-off of uncollectible accounts, net of recoveries of accounts previously written-off. |
Basis_of_Presentation_and_Summ1
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Principles of Consolidation | ' | ||||||||||||||||
Principles of Consolidation | |||||||||||||||||
The accompanying consolidated financial statements include the accounts of the Authority and its majority and wholly-owned subsidiaries and entities. In accordance with authoritative guidance issued by the Financial Accounting Standards Board (the “FASB”) pertaining to consolidation of variable interest entities, the accounts of Salishan-Mohegan are consolidated into the accounts of Mohegan Ventures-NW, as Mohegan Ventures-NW is deemed to be the primary beneficiary. In addition, the accounts of MG&H, Mohegan Resorts and its subsidiaries were consolidated into the accounts of MTGA Gaming, as MTGA Gaming was deemed to be the primary beneficiary. However, on March 29, 2013, MG&H purchased and acquired all of the Tribe’s membership interests in MG&H and retired the membership interests (refer to Note 1). In consolidation, all intercompany balances and transactions were eliminated. | |||||||||||||||||
Revisions | ' | ||||||||||||||||
Revisions | |||||||||||||||||
The accompanying consolidated financial statements for fiscal year 2012 reflect an adjustment to correct an error in the classification of lender fees associated with the Authority’s March 2012 refinancing transactions. Fees paid to lenders or on behalf of lenders should be reflected as a reduction to the debt proceeds. However, the Authority previously recorded these fees as debt issuance costs within other assets, net. The Authority concluded that this error was not material to its previously issued consolidated financial statements. The effect of this adjustment to the accompanying consolidated balance sheet as of September 30, 2012 was a $17.6 million decrease in other assets, net and long-term debt, net of current portion. The accompanying supplemental condensed consolidating financial statements within Note 16 also have been revised to reflect this adjustment. | |||||||||||||||||
The Authority recorded an adjustment to correct an error in the classification of its 2004 7 1⁄8% Senior Subordinated Notes due 2014 as of September 30, 2013, which was incorrectly reflected as long-term debt in the previously reported September 30, 2013 balance sheet. The Authority correctly disclosed current debt in the debt maturities table accompanying Note 6, however, inadvertently reflected these notes as long-term debt in the previously reported September 30, 2013 balance sheet. The effect of the revision on the September 30, 2013 balance sheet was a decrease to long-term debt, net of current portion, and an increase to current portion of long-term debt of $22.1 million. The supplemental condensed consolidating balance sheet within Note 16 also has been revised to reflect this adjustment. The Authority has concluded that this error was not material to the previously issued financial statements. | |||||||||||||||||
In addition, certain amounts in the accompanying consolidated financial statements for fiscal year 2012 and 2011 have been reclassified to conform to fiscal year 2013 presentation. | |||||||||||||||||
Use of Estimates | ' | ||||||||||||||||
Use of Estimates | |||||||||||||||||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the Authority to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosures of contingent assets and liabilities. The most significant estimates included in the accompanying consolidated financial statements relate to reserves for doubtful accounts, asset valuation, the liabilities associated with self-insurance, unredeemed Momentum Dollars (formerly referred to as Player’s Club points) and relinquishment, contingencies and litigation. Actual results could differ from these estimates. | |||||||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||
Cash and cash equivalents consist of deposits that can be redeemed on demand and investments with original maturities of less than 90 days. Cash equivalents are carried at cost, which approximates market value. Cash and cash equivalents include all operating cash and in-house funds. | |||||||||||||||||
Restricted Cash | ' | ||||||||||||||||
Restricted Cash | |||||||||||||||||
Restricted cash consists of deposits that are contractually restricted as to their withdrawal or use. Restricted cash primarily includes cash held by Downs Lodging which use is restricted to payments for construction expenditures in connection with Project Sunlight, including construction period interest and expenses. | |||||||||||||||||
Accounts Receivable | ' | ||||||||||||||||
Accounts Receivable | |||||||||||||||||
Accounts receivable consists primarily of casino receivables, which represent credit extended to approved casino patrons, and hotel and other non-gaming receivables. The Authority maintains a reserve for doubtful collection, which is based on the Authority’s estimate of the probability that these receivables will be collected. The Authority assesses the adequacy of this reserve by continuously evaluating historical experience, creditworthiness of the related patron and all other available information. Future business or economic trends could affect the collectability of these receivables and the related reserve. | |||||||||||||||||
Long-Term Receivables | ' | ||||||||||||||||
Long-Term Receivables | |||||||||||||||||
Long-term receivables consist primarily of receivables from affiliates and tenants and others. | |||||||||||||||||
Receivables from affiliates, which are included in other assets, net, in the accompanying consolidated balance sheets, consist primarily of reimbursable costs and expenses advanced by Salishan-Mohegan on behalf of the Cowlitz Tribe for the Cowlitz Project (refer to Note 12) and WTG on behalf of the Menominee Tribe for the Menominee Project (refer to Note 13). The Salishan-Mohegan receivables are payable upon: (1) the receipt of necessary financing for the development of the proposed casino, and (2) the related property being taken into trust by the United States Department of the Interior. Due to the uncertainty in the development of the Cowlitz Project, the Authority maintains a reserve for doubtful collection of the Salishan-Mohegan receivables, which is based on the Authority’s estimate of the probability that the receivables will be collected. The Authority assesses the reserve for doubtful collection of the Salishan-Mohegan receivables for adequacy on a quarterly basis. Future developments in the receipt of financing, the relevant land being taken into trust or other matters affecting the Cowlitz Project could affect the collectability of the Salishan-Mohegan receivables and the related reserve. The WTG receivables are fully reserved. The WTG receivables are payable upon the receipt of necessary financing for the development of the proposed casino, subject to certain conditions. | |||||||||||||||||
Receivables from tenants and others, which are primarily included in other assets, net, in the accompanying consolidated balance sheets, consist primarily of funds loaned to various tenants at Mohegan Sun and Mohegan Sun at Pocono Downs. Loan terms range up to twelve years, subject to renewals. The Authority maintains a reserve for doubtful collection of receivables from tenants, which is based on the Authority’s estimate of the probability that these receivables will be collected considering historical experience, creditworthiness of the related tenant and all other available information. | |||||||||||||||||
The following table presents a reconciliation of long-term receivables, including current portions, and the related reserves for doubtful collection of these long-term receivables (in thousands): | |||||||||||||||||
Long-Term Receivables | |||||||||||||||||
Affiliates | Tenants and Others | Total | |||||||||||||||
Balance, September 30, 2012 (1) | $ | 49,841 | $ | 3,533 | $ | 53,374 | |||||||||||
Additions: | |||||||||||||||||
Issuance of affiliate advances and tenant and other loans, including interest receivable | 7,941 | 136 | 8,077 | ||||||||||||||
Deductions: | |||||||||||||||||
Payments received | — | (139 | ) | (139 | ) | ||||||||||||
Balance, September 30, 2013 (1) | $ | 57,782 | $ | 3,530 | $ | 61,312 | |||||||||||
-1 | Includes interest receivable of $29.1 million and $22.9 million as of September 30, 2013 and 2012, respectively. The WTG receivables no longer accrue interest pursuant to a release and reimbursement agreement entered into in September 2010. | ||||||||||||||||
Reserves for Doubtful Collection of Long-Term Receivables | |||||||||||||||||
Affiliates | Tenants and Others | Total | |||||||||||||||
Balance, September 30, 2012 | $ | 21,807 | $ | 70 | $ | 21,877 | |||||||||||
Additions: | |||||||||||||||||
Charges to bad debt expense | 2,382 | — | 2,382 | ||||||||||||||
Deductions: | |||||||||||||||||
Adjustments | — | (9 | ) | (9 | ) | ||||||||||||
Balance, September 30, 2013 | $ | 24,189 | $ | 61 | $ | 24,250 | |||||||||||
Inventories | ' | ||||||||||||||||
Inventories | |||||||||||||||||
Inventories are stated at the lower of cost or market value and consist primarily of food and beverage, retail, hotel and operating supplies. Cost is determined using the average cost method. The Authority reduces the carrying value of slow-moving inventory to net realizable value, based on the Authority’s estimate of the amount of inventory that may not be utilized in future operations. Future business trends could affect the timely use of inventories. | |||||||||||||||||
Property and Equipment and Capitalized Interest | ' | ||||||||||||||||
Property and Equipment | |||||||||||||||||
Property and equipment are stated at cost. Depreciation is recognized over the estimated useful lives of the assets, other than land, on a straight-line basis. Leasehold improvements are amortized over the shorter of the lease terms or the estimated useful lives of the improvements. Estimated useful lives by asset categories are as follows: | |||||||||||||||||
Buildings and land improvements | 40 years | ||||||||||||||||
Furniture and equipment | 3 - 7 years | ||||||||||||||||
The costs of significant improvements are capitalized. Costs of normal repairs and maintenance are expensed as incurred. Gains or losses on disposition of property and equipment are reflected in the accompanying consolidated financial statements. | |||||||||||||||||
Property and equipment are assessed for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. If it is determined that the carrying amounts may not be recoverable based on current and future levels of income and cash flows, as well as other factors, an impairment loss will be recognized at such time. As of September 30, 2013 and 2012, the Authority assessed its property and equipment for impairment and determined that no impairment existed. | |||||||||||||||||
Capitalized Interest | |||||||||||||||||
Interest costs incurred in connection with major development and construction projects are capitalized and included in the cost of the related project. Under instances where no debt is directly incurred in connection with a project, interest is capitalized on amounts expended on the project utilizing the weighted-average interest cost of the Authority’s outstanding borrowings. Capitalization of interest ceases when a project is substantially completed or development activity is suspended for an extended period of time. | |||||||||||||||||
Goodwill | ' | ||||||||||||||||
Goodwill | |||||||||||||||||
In accordance with authoritative guidance issued by the FASB pertaining to goodwill, the goodwill associated with the acquisition of the Pennsylvania Facilities is not subject to amortization, but is assessed at least annually for impairment by comparing its fair value to its carrying value. The fair value is determined utilizing an income approach based on projected discounted cash flows from the Pennsylvania Facilities, exclusive of capital expenditures requirements. If the carrying value of the goodwill exceeds its fair value, an impairment loss will be recognized to the extent that the carrying value of the goodwill exceeds its implied fair value. The income approach requires the Authority to make assumptions regarding future revenues and expenses, discount rates and the terminal value based on a market multiple of the Pennsylvania Facilities. As of September 30, 2013 and 2012, the Authority assessed the goodwill for impairment and determined that no impairment existed. If any of the following occurs, the goodwill may be impaired and subject to a non-cash write-down in a future period, which could have a material adverse impact on the accompanying consolidated financial statements: (1) if estimates of projected cash flows from the Pennsylvania Facilities are not met; (2) if the discount rate increases; (3) if terminal growth rates decrease; or (4) if market multiples decrease. | |||||||||||||||||
Other Intangible Assets | ' | ||||||||||||||||
Other Intangible Assets | |||||||||||||||||
Intangible assets relate primarily to the Pennsylvania Facilities, Mohegan Sun, MBC and Mohegan Golf. | |||||||||||||||||
In connection with the acquisition of the Pennsylvania Facilities, the Authority recorded a slot machine license intangible asset of $214.0 million. In October 2006, a one-time slot machine license fee of $50.0 million was paid to the Pennsylvania Gaming Control Board (the “PGCB”) and added to the existing slot machine license intangible asset. In June 2010, a one-time table game certificate fee of $16.5 million was paid to the PGCB and classified as an intangible asset. The slot machine license and table game certificate intangible assets, with indefinite useful lives, are assessed as a single unit of accounting at least annually for impairment by comparing the fair value of the recorded assets to their carrying value. Their fair value is determined utilizing an income approach based on projected discounted cash flows from the Pennsylvania Facilities, exclusive of a required rate of return of all other assets and exclusive of capital expenditures requirements. If the carrying value exceeds the fair value, an impairment loss will be recognized to the extent that the carrying value exceeds the fair value. The income approach requires the Authority to make assumptions regarding future revenues and expenses, discount rates and the terminal value based on a perpetual growth rate of the Pennsylvania Facilities. As of September 30, 2013 and 2012, the Authority assessed the intangible assets for impairment and determined that no impairment existed. If any of the following occurs, the intangible assets may be impaired and subject to a non-cash write-down in a future period, which could have a material adverse impact on the accompanying consolidated financial statements: (1) if estimates of projected cash flows from the Pennsylvania Facilities are not met; (2) if the discount rate increases; or (3) if the terminal value decreases. | |||||||||||||||||
In connection with a relinquishment agreement (refer to Note 11), Trading Cove Associates (“TCA”) granted the Authority an exclusive, irrevocable, perpetual, world-wide and royalty-free license with respect to trademarks and other similar rights, including the “Mohegan Sun” name. The Mohegan Sun trademark intangible asset of $119.7 million is no longer subject to amortization, as it is deemed to have an indefinite useful life, and is assessed at least annually for impairment by comparing its fair value to its carrying value. The fair value is determined utilizing the income approach – relief from royalty method based on projected revenues from Mohegan Sun and Mohegan Sun at Pocono Downs. If the carrying value exceeds the fair value, an impairment loss will be recognized to the extent that the carrying value exceeds the fair value. The income approach requires the Authority to make assumptions regarding future revenues, discount rates, royalty rate and the terminal value based on a perpetual growth rate of Mohegan Sun and Mohegan Sun at Pocono Downs. As of September 30, 2013 and 2012, the Authority assessed the Mohegan Sun trademark for impairment and determined that no impairment existed. If any of the following occurs, the Mohegan Sun trademark may be impaired and subject to a non-cash write-down in a future period, which could have a material adverse impact on the accompanying consolidated financial statements: (1) if estimates of projected cash flows from Mohegan Sun and Mohegan Sun at Pocono Downs are not met; (2) if the discount rate increases; or (3) if the perpetual growth rate decreases. | |||||||||||||||||
In connection with the acquisitions of the WNBA franchise and the assets of Pautipaug Country Club Inc., the Authority recorded a franchise value intangible asset and a membership intangible asset, respectively. These intangible assets, with definite useful lives, are assessed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. | |||||||||||||||||
Deferred Financing Costs | ' | ||||||||||||||||
Deferred Financing Costs | |||||||||||||||||
Debt issuance costs incurred in connection with the issuance of long-term debt are capitalized and amortized to interest expense based on the related debt agreements on a straight-line basis, which approximates the effective interest method. Unamortized amounts are included in other assets, net, in the accompanying consolidated balance sheets. | |||||||||||||||||
Self-insurance Accruals | ' | ||||||||||||||||
Self-insurance Accruals | |||||||||||||||||
The Authority is self-insured up to certain limits for costs associated with workers’ compensation, general liability and employee medical coverage. Insurance claims and reserves include accruals of estimated settlements of known claims, as well as accruals of estimates of incurred but not reported claims. These accruals are included in other current liabilities in the accompanying consolidated balance sheets. In estimating self-insurance accruals, the Authority considers historical loss experiences and expected levels of costs per claim. Claims are accounted for based on estimates of undiscounted claims, including claims incurred but not reported. The Authority believes that this method provides a consistent and effective way to measure these liabilities; however, changes in health care costs, accident frequency and severity and other factors could materially impact estimated liabilities. The Authority continuously monitors estimates and makes adjustments when necessary. | |||||||||||||||||
Unredeemed Player Club Points | ' | ||||||||||||||||
Unredeemed Momentum Dollars (formerly Player’s Club Points) | |||||||||||||||||
The Authority maintains an accrual for unredeemed Momentum Dollars (formerly referred to as Player’s Club points). This accrual is based on the estimated cost of Momentum Dollars expected to be redeemed as of the respective balance sheet date. The Authority assesses the adequacy of this accrual by periodically evaluating historical redemption experiences and projected trends related to the accrual. Actual results could differ from these estimates. | |||||||||||||||||
Base Jackpots | ' | ||||||||||||||||
Base Jackpots | |||||||||||||||||
Base jackpots represent the fixed minimum amount of payouts from slot machines for a specific combination. The Authority recognizes base jackpots as reductions to revenues when it becomes obligated to pay such jackpots. | |||||||||||||||||
Relinquishment Liability | ' | ||||||||||||||||
Relinquishment Liability | |||||||||||||||||
In accordance with authoritative guidance issued by the FASB pertaining to the accounting for contingencies, the Authority recorded a relinquishment liability based on the estimated present value of its obligations under a relinquishment agreement with TCA (refer to Note 11). The Authority reassesses projected revenues and consequently the relinquishment liability: (1) annually in conjunction with its budgeting process, or (2) when necessary to account for material increases or decreases in projected revenues over the relinquishment period. If the reassessment results in an overall increase in projected revenues over the relinquishment period, the relinquishment liability is increased by 5% of such increase in revenues, discounted at the Authority’s risk-free rate of investment, which is an incremental layer. If the reassessment results in an overall decrease to projected revenues over the relinquishment period, the relinquishment liability is decreased by 5% of such decrease in revenues, discounted on the basis of a weighted-average discount rate, which is a decremental layer. The weighted-average discount rate is defined as the average discount rate utilized to discount all previous incremental layers weighted by the amount of each incremental layer. In addition, the Authority recognizes a quarterly accretion to the relinquishment liability to reflect the impact of the time value of money. Since the calculation of this liability requires a high level of estimates and judgments (including those related to projected revenues and impact and timing of future competition), future events that affect such estimates and judgments may cause the actual liability to materially differ from the current estimate. | |||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||
The fair value amounts presented below are reported to satisfy disclosure requirements pursuant to authoritative guidance issued by the FASB pertaining to disclosures about fair values of financial instruments and are not necessarily indicative of amounts that the Authority could realize in a current market transaction. | |||||||||||||||||
The Authority applies the following fair value hierarchy, which prioritizes the inputs utilized to measure fair value into three levels: | |||||||||||||||||
• | Level 1—Quoted prices for identical assets or liabilities in active markets; | ||||||||||||||||
• | Level 2—Quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets or valuations based on models where the significant inputs are observable or can be corroborated by observable market data; and | ||||||||||||||||
• | Level 3—Valuations based on models where the significant inputs are unobservable. The unobservable inputs reflect the Authority’s estimates or assumptions that market participants would utilize in pricing such assets or liabilities. | ||||||||||||||||
The Authority’s assessment of the significance of a particular input requires judgment and may affect the valuation of financial assets and liabilities and their placement within the fair value hierarchy. | |||||||||||||||||
The carrying amount of cash and cash equivalents, receivables, trade payables and promissory notes approximates fair value. The estimated fair value of the Authority’s financing facilities and notes were as follows (in thousands): | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
Carrying Value | Fair Value | ||||||||||||||||
Bank Credit Facility | $ | 393,000 | $ | 393,491 | |||||||||||||
Term Loan Facility | $ | 221,995 | $ | 229,781 | |||||||||||||
2009 11 1⁄2% Second Lien Senior Secured Notes | $ | 195 | $ | 225 | |||||||||||||
2012 11 1⁄2% Second Lien Senior Secured Notes | $ | 190,902 | $ | 225,025 | |||||||||||||
2013 9 3⁄4% Senior Unsecured Notes | $ | 500,000 | $ | 524,375 | |||||||||||||
2004 7 1⁄8% Senior Subordinated Notes | $ | 21,156 | $ | 20,812 | |||||||||||||
2005 6 7⁄8% Senior Subordinated Notes | $ | 9,654 | $ | 9,473 | |||||||||||||
2012 11% Senior Subordinated Notes | $ | 271,022 | $ | 272,438 | |||||||||||||
The estimated fair values of the Authority’s financing facilities and notes were based on Level 2 inputs (quoted market prices or prices of similar instruments) on or about September 30, 2013. | |||||||||||||||||
Revenue Recognition | ' | ||||||||||||||||
Revenue Recognition | |||||||||||||||||
The Authority recognizes gaming revenues as amounts wagered less prizes paid out. Revenues from food and beverage, hotel, retail, entertainment and other services are recognized at the time such service is performed. Minimum rental revenues are recognized on a straight-line basis over the terms of the related leases. Percentage rental revenues are recognized in the periods in which the tenants exceed their respective percentage rent thresholds. | |||||||||||||||||
Promotional Allowances | ' | ||||||||||||||||
Promotional Allowances | |||||||||||||||||
The Authority operates a program, without membership fees, for patrons at Mohegan Sun, Mohegan Sun at Pocono Downs and its managed property, Resorts Atlantic City. This program provides complimentary food and beverage, hotel, retail, entertainment and other services to patrons, as applicable, based on points that are awarded for patrons’ gaming activities. Points may be utilized to purchase, among other things, items at retail stores and restaurants located within Mohegan Sun, Mohegan Sun at Pocono Downs and Resorts Atlantic City. Points also may be utilized at The Shops at Mohegan Sun and the Mohegan Sun gasoline and convenience center, as well as to purchase hotel services and tickets to entertainment events held at facilities located at Mohegan Sun, Mohegan Sun at Pocono Downs and Resorts Atlantic City. The retail value of these complimentary items is included in gross revenues when redeemed at facilities operated by the Authority and then deducted as promotional allowances to arrive at net revenues. The cost associated with reimbursing third parties for the value of complimentary items redeemed at third-party outlets is charged to gaming costs and expenses. Effective October 1, 2013, this program, formerly referred to as the Player’s Club program, was restructured and renamed “Momentum,” and points issued under the program, formerly referred to as Player’s Club points, are now referred to as “Momentum Dollars.” | |||||||||||||||||
In addition, the Authority offers ongoing promotional coupon programs to patrons for the purchase of food and beverage, hotel and retail amenities offered within Mohegan Sun and Mohegan Sun at Pocono Downs, as applicable. The retail value of items or services purchased with coupons at facilities operated by the Authority is included in gross revenues and the respective coupon value is deducted as promotional allowances to arrive at net revenues. The cost associated with reimbursing third parties for the value of coupons redeemed at third-party outlets is charged to gaming costs and expenses. | |||||||||||||||||
The retail value of providing promotional allowances was included in revenues as follows (in thousands): | |||||||||||||||||
For the Fiscal Years Ended | |||||||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2011 | |||||||||||||||
Food and beverage | $ | 38,390 | $ | 40,925 | $ | 43,710 | |||||||||||
Hotel | 13,799 | 14,127 | 14,850 | ||||||||||||||
Retail, entertainment and other | 43,668 | 44,145 | 50,249 | ||||||||||||||
Total | $ | 95,857 | $ | 99,197 | $ | 108,809 | |||||||||||
The estimated cost of providing promotional allowances was included in gaming costs and expenses as follows (in thousands): | |||||||||||||||||
For the Fiscal Years Ended | |||||||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2011 | |||||||||||||||
Food and beverage | $ | 34,194 | $ | 37,140 | $ | 40,803 | |||||||||||
Hotel | 7,216 | 7,754 | 8,873 | ||||||||||||||
Retail, entertainment and other | 40,167 | 40,501 | 42,245 | ||||||||||||||
Total | $ | 81,577 | $ | 85,395 | $ | 91,921 | |||||||||||
In certain circumstances, the Authority also offers discounts on patron losses and cash inducements at Mohegan Sun and Mohegan Sun at Pocono Downs, which are recognized as reductions to gaming revenues. Reductions to gaming revenues related to discounts provided on patron losses totaled $11.0 million, $10.7 million and $9.7 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. Reductions to gaming revenues related to Momentum Dollars redeemed for cash totaled $1.4 million, $1.1 million and $933,000 for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. | |||||||||||||||||
Gaming Costs and Expenses | ' | ||||||||||||||||
Gaming Costs and Expenses | |||||||||||||||||
Gaming costs and expenses primarily include portions of gaming revenues that must be paid to the State of Connecticut and the PGCB. Gaming costs and expenses also include, among other things, payroll costs, expenses associated with the operation of slot machines, table games, poker, live harness racing and racebook, certain marketing expenditures and promotional expenses related to Momentum Dollar and coupon redemptions. | |||||||||||||||||
Advertising Costs and Expenses | ' | ||||||||||||||||
Advertising Costs and Expenses | |||||||||||||||||
Production costs are expensed the first time the advertisement takes place. Prepaid rental fees associated with billboard advertisements are capitalized and amortized over the terms of the related rental agreements. Advertising costs and expenses totaled $28.2 million, $28.2 million and $27.0 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively. As of September 30, 2013 and 2012, prepaid advertising was $19,000 and $767,000, respectively. | |||||||||||||||||
Corporate Costs and Expenses | ' | ||||||||||||||||
Corporate Costs and Expenses | |||||||||||||||||
Corporate costs and expenses represent an allocation of certain governmental and administrative costs, payroll costs, professional fees and various other expenses not directly related to the Authority’s operations at Mohegan Sun or Mohegan Sun at Pocono Downs. In addition, Corporate costs and expenses include costs associated with various gaming diversification efforts, which are expensed as incurred, except when reimbursable by a third-party. | |||||||||||||||||
Severance Costs and Expenses | ' | ||||||||||||||||
Severance Costs and Expenses | |||||||||||||||||
In September 2012, the Authority implemented a workforce reduction of approximately 330 positions in Uncasville, Connecticut, in an effort to further streamline its organization and better align operating costs with current market and business conditions. In addition, in March 2013, the Authority implemented a workforce reduction at its Pennsylvania Facilities. The costs associated with related post-employment severance benefits were expensed at the time the termination was communicated to the employees. Cash payments related to the September 2012 workforce reduction commenced in October 2012 and are anticipated to be completed in September 2014. Cash payments related to the March 2013 workforce reduction commenced in March 2013 and were completed in August 2013. The Authority does not anticipate incurring any additional severance charges in connection with these workforce reductions, other than charges that may arise from adjustments to the initial estimates utilized under the plans. The following table presents a reconciliation of the related severance liability by business segment (in thousands): | |||||||||||||||||
Mohegan Sun | Corporate | Mohegan Sun | Total | ||||||||||||||
at Pocono Downs | |||||||||||||||||
Balance, September 30, 2012 | $ | 12,497 | $ | 24 | $ | — | $ | 12,521 | |||||||||
Accrued severance at measurement date | — | — | 124 | 124 | |||||||||||||
Adjustments | (146 | ) | — | 51 | (95 | ) | |||||||||||
Cash payments | (10,934 | ) | (24 | ) | (175 | ) | (11,133 | ) | |||||||||
Balance, September 30, 2013 | $ | 1,417 | $ | — | $ | — | $ | 1,417 | |||||||||
Pre-Opening Costs and Expenses | ' | ||||||||||||||||
Pre-Opening Costs and Expenses | |||||||||||||||||
In accordance with authoritative guidance issued by the FASB pertaining to the reporting on the costs of start-up activities, pre-opening costs and expenses are expensed as incurred. | |||||||||||||||||
Investments in Unconsolidated Affiliates | ' | ||||||||||||||||
Investments in Unconsolidated Affiliates | |||||||||||||||||
In October 2012, the Authority, through its indirect wholly-owned subsidiary, MGA Holding NJ, LLC, acquired a 10% ownership interest in Resorts Atlantic City. The Authority’s investment in Resorts Atlantic City is accounted for under the equity method as the Authority has significant influence. | |||||||||||||||||
Income Taxes | ' | ||||||||||||||||
Income Taxes | |||||||||||||||||
The Tribe is a sovereign Indian nation with independent legal jurisdiction over its people and land. Like other sovereign governments, the Tribe and its entities, including the Authority, are not subject to federal, state or local income taxes. |
Basis_of_Presentation_and_Summ2
Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Reconciliation of long-term receivables and the related reserves for doubtful collection | ' | ||||||||||||||||
The following table presents a reconciliation of long-term receivables, including current portions, and the related reserves for doubtful collection of these long-term receivables (in thousands): | |||||||||||||||||
Long-Term Receivables | |||||||||||||||||
Affiliates | Tenants and Others | Total | |||||||||||||||
Balance, September 30, 2012 (1) | $ | 49,841 | $ | 3,533 | $ | 53,374 | |||||||||||
Additions: | |||||||||||||||||
Issuance of affiliate advances and tenant and other loans, including interest receivable | 7,941 | 136 | 8,077 | ||||||||||||||
Deductions: | |||||||||||||||||
Payments received | — | (139 | ) | (139 | ) | ||||||||||||
Balance, September 30, 2013 (1) | $ | 57,782 | $ | 3,530 | $ | 61,312 | |||||||||||
-1 | Includes interest receivable of $29.1 million and $22.9 million as of September 30, 2013 and 2012, respectively. The WTG receivables no longer accrue interest pursuant to a release and reimbursement agreement entered into in September 2010. | ||||||||||||||||
Reserves for Doubtful Collection of Long-Term Receivables | |||||||||||||||||
Affiliates | Tenants and Others | Total | |||||||||||||||
Balance, September 30, 2012 | $ | 21,807 | $ | 70 | $ | 21,877 | |||||||||||
Additions: | |||||||||||||||||
Charges to bad debt expense | 2,382 | — | 2,382 | ||||||||||||||
Deductions: | |||||||||||||||||
Adjustments | — | (9 | ) | (9 | ) | ||||||||||||
Balance, September 30, 2013 | $ | 24,189 | $ | 61 | $ | 24,250 | |||||||||||
Estimated useful lives by asset categories | ' | ||||||||||||||||
Estimated useful lives by asset categories are as follows: | |||||||||||||||||
Buildings and land improvements | 40 years | ||||||||||||||||
Furniture and equipment | 3 - 7 years | ||||||||||||||||
Estimated fair value of financing facilities and notes | ' | ||||||||||||||||
The estimated fair value of the Authority’s financing facilities and notes were as follows (in thousands): | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
Carrying Value | Fair Value | ||||||||||||||||
Bank Credit Facility | $ | 393,000 | $ | 393,491 | |||||||||||||
Term Loan Facility | $ | 221,995 | $ | 229,781 | |||||||||||||
2009 11 1⁄2% Second Lien Senior Secured Notes | $ | 195 | $ | 225 | |||||||||||||
2012 11 1⁄2% Second Lien Senior Secured Notes | $ | 190,902 | $ | 225,025 | |||||||||||||
2013 9 3⁄4% Senior Unsecured Notes | $ | 500,000 | $ | 524,375 | |||||||||||||
2004 7 1⁄8% Senior Subordinated Notes | $ | 21,156 | $ | 20,812 | |||||||||||||
2005 6 7⁄8% Senior Subordinated Notes | $ | 9,654 | $ | 9,473 | |||||||||||||
2012 11% Senior Subordinated Notes | $ | 271,022 | $ | 272,438 | |||||||||||||
Retail value of providing promotional allowances | ' | ||||||||||||||||
The retail value of providing promotional allowances was included in revenues as follows (in thousands): | |||||||||||||||||
For the Fiscal Years Ended | |||||||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2011 | |||||||||||||||
Food and beverage | $ | 38,390 | $ | 40,925 | $ | 43,710 | |||||||||||
Hotel | 13,799 | 14,127 | 14,850 | ||||||||||||||
Retail, entertainment and other | 43,668 | 44,145 | 50,249 | ||||||||||||||
Total | $ | 95,857 | $ | 99,197 | $ | 108,809 | |||||||||||
Estimated cost of providing promotional allowances | ' | ||||||||||||||||
The estimated cost of providing promotional allowances was included in gaming costs and expenses as follows (in thousands): | |||||||||||||||||
For the Fiscal Years Ended | |||||||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2011 | |||||||||||||||
Food and beverage | $ | 34,194 | $ | 37,140 | $ | 40,803 | |||||||||||
Hotel | 7,216 | 7,754 | 8,873 | ||||||||||||||
Retail, entertainment and other | 40,167 | 40,501 | 42,245 | ||||||||||||||
Total | $ | 81,577 | $ | 85,395 | $ | 91,921 | |||||||||||
Schedule of accrued severance liability by segment | ' | ||||||||||||||||
The following table presents a reconciliation of the related severance liability by business segment (in thousands): | |||||||||||||||||
Mohegan Sun | Corporate | Mohegan Sun | Total | ||||||||||||||
at Pocono Downs | |||||||||||||||||
Balance, September 30, 2012 | $ | 12,497 | $ | 24 | $ | — | $ | 12,521 | |||||||||
Accrued severance at measurement date | — | — | 124 | 124 | |||||||||||||
Adjustments | (146 | ) | — | 51 | (95 | ) | |||||||||||
Cash payments | (10,934 | ) | (24 | ) | (175 | ) | (11,133 | ) | |||||||||
Balance, September 30, 2013 | $ | 1,417 | $ | — | $ | — | $ | 1,417 | |||||||||
Receivables_Net_Tables
Receivables, Net (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Schedule of receivables, net | ' | ||||||||
Receivables, net, consisted of the following (in thousands): | |||||||||
September 30, 2013 | September 30, 2012 | ||||||||
Gaming | $ | 27,369 | $ | 29,231 | |||||
Hotel | 1,731 | 1,354 | |||||||
Other | 7,211 | 5,093 | |||||||
Subtotal | 36,311 | 35,678 | |||||||
Less: reserve for doubtful collection | (10,169 | ) | (9,122 | ) | |||||
Total receivables, net | $ | 26,142 | $ | 26,556 | |||||
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Schedule of property and equipment, net | ' | ||||||||
Property and equipment, net, consisted of the following (in thousands): | |||||||||
September 30, 2013 | September 30, 2012 | ||||||||
Land | $ | 65,485 | $ | 64,799 | |||||
Land improvements | 96,735 | 96,603 | |||||||
Buildings and improvements | 1,691,924 | 1,692,683 | |||||||
Furniture and equipment | 541,832 | 541,506 | |||||||
Construction in process | 55,569 | 20,243 | |||||||
Subtotal | 2,451,545 | 2,415,834 | |||||||
Less: accumulated depreciation | (975,370 | ) | (925,436 | ) | |||||
Total property and equipment, net | $ | 1,476,175 | $ | 1,490,398 | |||||
Other_Current_Assets_and_Other1
Other Current Assets and Other Current Liabilities (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Schedule of other current assets and other current liabilities | ' | ||||||||
Other current assets consisted of the following (in thousands): | |||||||||
September 30, 2013 | September 30, 2012 | ||||||||
Non-qualified deferred compensation | $ | 9,832 | $ | 17,190 | |||||
Prepaid expenses and other miscellaneous current assets | 10,686 | 11,125 | |||||||
Total other current assets | $ | 20,518 | $ | 28,315 | |||||
Other current liabilities consisted of the following (in thousands): | |||||||||
September 30, 2013 | September 30, 2012 | ||||||||
Accrued payroll and related taxes and benefits | $ | 36,538 | $ | 49,064 | |||||
Combined outstanding Slot Win Contribution and free promotional slot play contribution | 12,691 | 13,680 | |||||||
Accrued severance | 2,395 | 13,228 | |||||||
Amounts due to horsemen | 7,805 | 9,259 | |||||||
Other miscellaneous current liabilities | 64,553 | 64,749 | |||||||
Total other current liabilities | $ | 123,982 | $ | 149,980 | |||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Schedule of long-term debt | ' | ||||||||
Long-term debt consisted of the following (in thousands, including current maturities): | |||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | ||||||||
Bank Credit Facility, due March 2015 | $ | 393,000 | $ | 397,000 | |||||
Term Loan Facility, due March 2016, net of discount of $3,005 and $3,988, respectively | 221,995 | 221,012 | |||||||
2009 11 1⁄2% Second Lien Senior Secured Notes, due November 2017, net of discount of $5 and $6, respectively | 195 | 194 | |||||||
2012 11 1⁄2% Second Lien Senior Secured Notes, due November 2017, net of discount of $8,898 and $10,029, respectively | 190,902 | 189,771 | |||||||
2012 10 1⁄2% Third Lien Senior Secured Notes, due December 2016, net of discount of $7,160 | — | 410,611 | |||||||
2005 6 1⁄8% Senior Unsecured Notes, due February 2013 | — | 15,775 | |||||||
2013 9 3⁄4% Senior Unsecured Notes, due September 2021 | 500,000 | — | |||||||
2004 7 1⁄8% Senior Subordinated Notes, due August 2014 | 21,156 | 21,156 | |||||||
2005 6 7⁄8% Senior Subordinated Notes, due February 2015 | 9,654 | 9,654 | |||||||
2012 11% Senior Subordinated Notes, due September 2018, net of discount of $4,168 and $5,959, respectively | 271,022 | 338,231 | |||||||
2009 Mohegan Tribe Promissory Note, due September 2014 | 3,500 | 10,000 | |||||||
2012 Mohegan Tribe Minor’s Trust Promissory Note, due March 2016 | 18,000 | 20,000 | |||||||
Mohegan Tribe Credit Facility, due September 2013 | — | 1,450 | |||||||
2013 Mohegan Tribe Promissory Note, due December 2018 | 7,420 | — | |||||||
Downs Lodging Credit Facility, due July 2016 | 45,000 | 45,000 | |||||||
Salishan-Mohegan Promissory Notes, due December 2014 | 468 | — | |||||||
Subtotal | 1,682,312 | 1,679,854 | |||||||
Plus: net deferred gain on derivative instruments sold | — | 386 | |||||||
Long-term debt, excluding capital leases | 1,682,312 | 1,680,240 | |||||||
Less: current portion of long-term debt | (30,719 | ) | (29,737 | ) | |||||
Long-term debt, net of current portion | $ | 1,651,593 | $ | 1,650,503 | |||||
Schedule of maturities of long-term debt | ' | ||||||||
Maturities of long-term debt are as follows (in thousands, including current maturities): | |||||||||
Fiscal Years | |||||||||
2014 | $ | 30,719 | |||||||
2015 | 405,059 | ||||||||
2016 | 280,000 | ||||||||
2017 | — | ||||||||
2018 | 475,190 | ||||||||
Thereafter | 507,420 | ||||||||
Total | $ | 1,698,388 | |||||||
Leases_Tables
Leases (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Schedule of minimum future rental income and expense under non-cancelable leases | ' | ||||||||||||||||||||||||||||
Minimum future rental income that the Authority expects to earn under non-cancelable leases is as follows (in thousands): | |||||||||||||||||||||||||||||
Fiscal Years Ending September 30, | |||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||||
Minimum future rental income | $ | 6,927 | $ | 6,934 | $ | 6,236 | $ | 3,912 | $ | 3,288 | $ | 8,891 | $ | 36,188 | |||||||||||||||
Minimum future rental expense that the Authority expects to incur under non-cancelable leases is as follows (in thousands): | |||||||||||||||||||||||||||||
Fiscal Years Ending September 30, | |||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||||
Minimum future rental expense | $ | 1,859 | $ | 1,768 | $ | 949 | $ | 846 | $ | 830 | $ | 1,730 | $ | 7,982 |
Relinquishment_Agreement_Table
Relinquishment Agreement (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Relinquishment payments | ' | ||||||||||||
Relinquishment payments consisted of the following (in millions): | |||||||||||||
For the Fiscal Years Ended | |||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2011 | |||||||||||
Principal | $ | 45.4 | $ | 45.3 | $ | 42.6 | |||||||
Accretion of discount | 5.8 | 9 | 12.4 | ||||||||||
Total | $ | 51.2 | $ | 54.3 | $ | 55 | |||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Financial Information Related to Segments | ' | ||||||||||||
The Authority’s operations related to investments in unconsolidated affiliates and certain other corporate and management operations have not been identified as separate reportable segments, therefore, these operations are included in corporate and other in the following segment disclosures to reconcile to consolidated results. | |||||||||||||
For the Fiscal Years Ended | |||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2011 | |||||||||||
(in thousands) | |||||||||||||
Net revenues: | |||||||||||||
Mohegan Sun | $ | 1,042,078 | $ | 1,084,017 | $ | 1,115,326 | |||||||
Mohegan Sun at Pocono Downs | 296,648 | 314,999 | 303,053 | ||||||||||
Corporate and other | 1,302 | 297 | — | ||||||||||
Total | $ | 1,340,028 | $ | 1,399,313 | $ | 1,418,379 | |||||||
Income (loss) from operations: | |||||||||||||
Mohegan Sun | $ | 212,680 | $ | 199,358 | $ | 223,777 | |||||||
Mohegan Sun at Pocono Downs | 43,763 | 43,296 | 31,491 | ||||||||||
Corporate and other | (26,937 | ) | (17,230 | ) | (16,864 | ) | |||||||
Total | 229,506 | 225,424 | 238,404 | ||||||||||
Accretion of discount to the relinquishment liability | (4,974 | ) | (8,248 | ) | (11,366 | ) | |||||||
Interest income | 6,271 | 4,492 | 2,732 | ||||||||||
Interest expense, net of capitalized interest | (170,150 | ) | (146,057 | ) | (117,710 | ) | |||||||
Loss on early exchange of debt and write-off of debt issuance costs | (11,516 | ) | (14,326 | ) | — | ||||||||
Other expense, net | (1,595 | ) | (44 | ) | (217 | ) | |||||||
Net income | 47,542 | 61,241 | 111,843 | ||||||||||
Loss attributable to non-controlling interests | 2,784 | 2,019 | 2,134 | ||||||||||
Net income attributable to Mohegan Tribal Gaming Authority | $ | 50,326 | $ | 63,260 | $ | 113,977 | |||||||
For the Fiscal Years Ended | |||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2011 | |||||||||||
Capital expenditures incurred: | |||||||||||||
Mohegan Sun | $ | 27,652 | $ | 36,542 | $ | 41,325 | |||||||
Mohegan Sun at Pocono Downs | 4,673 | 3,543 | 5,152 | ||||||||||
Corporate | 33,728 | 3,557 | — | ||||||||||
Total | $ | 66,053 | $ | 43,642 | $ | 46,477 | |||||||
September 30, 2013 | September 30, 2012 | ||||||||||||
Total assets: | |||||||||||||
Mohegan Sun | $ | 1,425,152 | $ | 1,484,369 | |||||||||
Mohegan Sun at Pocono Downs | 558,700 | 570,078 | |||||||||||
Corporate | 152,298 | 181,699 | |||||||||||
Total | $ | 2,136,150 | $ | 2,236,146 | |||||||||
Supplemental_Condensed_Consoli1
Supplemental Condensed Consolidating Financial Statement Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Condensed Consolidating Balance Sheets | ' | ||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEETS | |||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||
Authority | Total | Total | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Non-Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Subsidiaries | Adjustments | |||||||||||||||||||
and Entities (2) | |||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 44,060 | $ | 18,655 | $ | 909 | $ | — | $ | 63,624 | |||||||||||
Restricted cash | — | 1,714 | 12,043 | — | 13,757 | ||||||||||||||||
Receivables, net | 23,186 | 2,717 | 239 | — | 26,142 | ||||||||||||||||
Inventories | 12,928 | 1,062 | — | — | 13,990 | ||||||||||||||||
Other current assets | 18,125 | 1,197 | 1,196 | — | 20,518 | ||||||||||||||||
Total current assets | 98,299 | 25,345 | 14,387 | — | 138,031 | ||||||||||||||||
Non-current assets: | |||||||||||||||||||||
Property and equipment, net | 1,193,676 | 225,263 | 57,236 | — | 1,476,175 | ||||||||||||||||
Goodwill | — | 39,459 | — | — | 39,459 | ||||||||||||||||
Other intangible assets, net | 120,508 | 285,010 | — | — | 405,518 | ||||||||||||||||
Other assets, net | 35,159 | 3,891 | 38,127 | (210 | ) | 76,967 | |||||||||||||||
Intercompany receivables | 238,545 | 37,149 | — | (275,694 | ) | — | |||||||||||||||
Investment in subsidiaries | 332,737 | — | — | (332,737 | ) | — | |||||||||||||||
Total assets | $ | 2,018,924 | $ | 616,117 | $ | 109,750 | $ | (608,641 | ) | $ | 2,136,150 | ||||||||||
LIABILITIES AND CAPITAL | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Current portion of long-term debt | $ | 25,156 | $ | — | $ | 63 | $ | — | $ | 25,219 | |||||||||||
Current portion of relinquishment liability | 62,947 | — | — | — | 62,947 | ||||||||||||||||
Due to Mohegan Tribe | 808 | — | 5,500 | — | 6,308 | ||||||||||||||||
Current portion of capital leases | 2,302 | — | — | — | 2,302 | ||||||||||||||||
Trade payables | 8,901 | 1,613 | 17 | — | 10,531 | ||||||||||||||||
Construction payables | 6,790 | 558 | 3,663 | — | 11,011 | ||||||||||||||||
Accrued interest payable | 18,616 | — | 4,680 | — | 23,296 | ||||||||||||||||
Other current liabilities | 93,377 | 29,580 | 1,025 | — | 123,982 | ||||||||||||||||
Total current liabilities | 218,897 | 31,751 | 14,948 | — | 265,596 | ||||||||||||||||
Non-current liabilities: | |||||||||||||||||||||
Long-term debt, net of current portion | 1,582,768 | — | 45,405 | — | 1,628,173 | ||||||||||||||||
Relinquishment liability, net of current portion | 11,418 | — | — | — | 11,418 | ||||||||||||||||
Due to Mohegan Tribe, net of current portion | — | — | 23,420 | — | 23,420 | ||||||||||||||||
Capital leases, net of current portion | 3,138 | — | — | — | 3,138 | ||||||||||||||||
Other long-term liabilities | 2,941 | — | 2,079 | — | 5,020 | ||||||||||||||||
Intercompany payables | — | 236,772 | 38,922 | (275,694 | ) | — | |||||||||||||||
Accumulated losses in excess of investment in subsidiaries | — | 6,832 | — | (6,832 | ) | — | |||||||||||||||
Total liabilities | 1,819,162 | 275,355 | 124,774 | (282,526 | ) | 1,936,765 | |||||||||||||||
Capital: | |||||||||||||||||||||
Retained earnings | 199,762 | 340,762 | (15,024 | ) | (326,264 | ) | 199,236 | ||||||||||||||
Mohegan Tribal Gaming Authority capital | 199,762 | 340,762 | (15,024 | ) | (326,264 | ) | 199,236 | ||||||||||||||
Non-controlling interests | — | — | — | 149 | 149 | ||||||||||||||||
Total capital | 199,762 | 340,762 | (15,024 | ) | (326,115 | ) | 199,385 | ||||||||||||||
Total liabilities and capital | $ | 2,018,924 | $ | 616,117 | $ | 109,750 | $ | (608,641 | ) | $ | 2,136,150 | ||||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
30-Sep-12 | |||||||||||||||||||||
Authority | Total | Total | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Non-Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Subsidiaries | Adjustments | |||||||||||||||||||
and Entities (2) | |||||||||||||||||||||
ASSETS | |||||||||||||||||||||
Property and equipment, net | $ | 1,233,688 | $ | 233,202 | $ | 23,508 | $ | — | $ | 1,490,398 | |||||||||||
Intercompany receivables | 223,131 | 12,448 | — | (235,579 | ) | — | |||||||||||||||
Investment in subsidiaries | 351,703 | 557 | — | (352,260 | ) | — | |||||||||||||||
Other intangible assets, net | 120,623 | 285,305 | — | — | 405,928 | ||||||||||||||||
Other assets, net | 191,015 | 71,673 | 77,342 | (210 | ) | 339,820 | |||||||||||||||
Total assets | $ | 2,120,160 | $ | 603,185 | $ | 100,850 | $ | (588,049 | ) | $ | 2,236,146 | ||||||||||
LIABILITIES AND CAPITAL | |||||||||||||||||||||
Current liabilities | $ | 261,433 | $ | 32,771 | $ | 6,359 | $ | — | $ | 300,563 | |||||||||||
Due to Mohegan Tribe | — | — | 31,450 | — | 31,450 | ||||||||||||||||
Long-term debt and capital leases, net of current portions | 1,589,443 | — | 45,000 | — | 1,634,443 | ||||||||||||||||
Relinquishment liability, net of current portion | 57,470 | — | — | — | 57,470 | ||||||||||||||||
Intercompany payables | — | 222,787 | 12,792 | (235,579 | ) | — | |||||||||||||||
Other long-term liabilities | 2,607 | — | 350 | — | 2,957 | ||||||||||||||||
Total liabilities | 1,910,953 | 255,558 | 95,951 | (235,579 | ) | 2,026,883 | |||||||||||||||
Mohegan Tribal Gaming Authority capital | 209,207 | 347,627 | 4,899 | (353,052 | ) | 208,681 | |||||||||||||||
Non-controlling interests | — | — | — | 582 | 582 | ||||||||||||||||
Total liabilities and capital | $ | 2,120,160 | $ | 603,185 | $ | 100,850 | $ | (588,049 | ) | $ | 2,236,146 | ||||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
Condensed Consolidating Statements of Income | ' | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF INCOME | |||||||||||||||||||||
For the Fiscal Year Ended September 30, 2013 | |||||||||||||||||||||
Authority | Total | Total | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Non-Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Subsidiaries | Adjustments | |||||||||||||||||||
and Entities (2) | |||||||||||||||||||||
Revenues: | |||||||||||||||||||||
Gaming | $ | 911,180 | $ | 279,022 | $ | — | $ | — | $ | 1,190,202 | |||||||||||
Food and beverage | 59,334 | 26,917 | — | — | 86,251 | ||||||||||||||||
Hotel | 40,873 | — | — | — | 40,873 | ||||||||||||||||
Retail, entertainment and other | 100,545 | 16,679 | 1,575 | (240 | ) | 118,559 | |||||||||||||||
Gross revenues | 1,111,932 | 322,618 | 1,575 | (240 | ) | 1,435,885 | |||||||||||||||
Less-Promotional allowances | (76,407 | ) | (17,300 | ) | (4 | ) | (2,146 | ) | (95,857 | ) | |||||||||||
Net revenues | 1,035,525 | 305,318 | 1,571 | (2,386 | ) | 1,340,028 | |||||||||||||||
Operating costs and expenses: | |||||||||||||||||||||
Gaming | 507,069 | 201,860 | — | — | 708,929 | ||||||||||||||||
Food and beverage | 33,297 | 8,280 | (2 | ) | — | 41,575 | |||||||||||||||
Hotel | 14,339 | — | — | — | 14,339 | ||||||||||||||||
Retail, entertainment and other | 40,371 | 5,589 | — | (2,101 | ) | 43,859 | |||||||||||||||
Advertising, general and administrative | 159,869 | 32,997 | 13,373 | (13,566 | ) | 192,673 | |||||||||||||||
Corporate | 14,841 | — | — | 13,281 | 28,122 | ||||||||||||||||
Depreciation and amortization | 67,097 | 13,220 | — | — | 80,317 | ||||||||||||||||
Loss on disposition of assets | 222 | 19 | — | — | 241 | ||||||||||||||||
Severance | (146 | ) | 175 | — | — | 29 | |||||||||||||||
Pre-opening | — | 687 | — | — | 687 | ||||||||||||||||
Relinquishment liability reassessment | (249 | ) | — | — | — | (249 | ) | ||||||||||||||
Total operating costs and expenses | 836,710 | 262,827 | 13,371 | (2,386 | ) | 1,110,522 | |||||||||||||||
Income (loss) from operations | 198,815 | 42,491 | (11,800 | ) | — | 229,506 | |||||||||||||||
Other income (expense): | |||||||||||||||||||||
Accretion of discount to the relinquishment liability | (4,974 | ) | — | — | — | (4,974 | ) | ||||||||||||||
Interest income | 146 | 2,320 | 6,064 | (2,259 | ) | 6,271 | |||||||||||||||
Interest expense, net of capitalized interest | (118,303 | ) | (44,126 | ) | (9,980 | ) | 2,259 | (170,150 | ) | ||||||||||||
Loss on early exchange of debt and write-off of debt issuance costs | (11,516 | ) | — | — | — | (11,516 | ) | ||||||||||||||
Loss on interests in subsidiaries | (13,834 | ) | (7,389 | ) | — | 21,223 | — | ||||||||||||||
Other expense, net | (8 | ) | — | (1,587 | ) | — | (1,595 | ) | |||||||||||||
Total other expense | (148,489 | ) | (49,195 | ) | (5,503 | ) | 21,223 | (181,964 | ) | ||||||||||||
Net income (loss) | 50,326 | (6,704 | ) | (17,303 | ) | 21,223 | 47,542 | ||||||||||||||
Loss attributable to non-controlling interests | — | — | — | 2,784 | 2,784 | ||||||||||||||||
Net income (loss) attributable to Mohegan Tribal Gaming Authority | $ | 50,326 | $ | (6,704 | ) | $ | (17,303 | ) | $ | 24,007 | $ | 50,326 | |||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
For the Fiscal Year Ended September 30, 2012 | |||||||||||||||||||||
Authority | Total | Total | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Non-Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Subsidiaries | Adjustments | |||||||||||||||||||
and Entities (2) | |||||||||||||||||||||
Net revenues | $ | 1,079,411 | $ | 321,563 | $ | 285 | $ | (1,946 | ) | $ | 1,399,313 | ||||||||||
Operating costs and expenses: | |||||||||||||||||||||
Gaming and other operations | 643,557 | 230,263 | — | (1,946 | ) | 871,874 | |||||||||||||||
Advertising, general and administrative | 177,486 | 33,272 | 4,582 | 210 | 215,550 | ||||||||||||||||
Depreciation and amortization | 68,666 | 16,364 | — | — | 85,030 | ||||||||||||||||
Loss on disposition of assets | 68 | 285 | — | — | 353 | ||||||||||||||||
Severance | 12,521 | — | — | — | 12,521 | ||||||||||||||||
Relinquishment liability reassessment | (11,439 | ) | — | — | — | (11,439 | ) | ||||||||||||||
Total operating costs and expenses | 890,859 | 280,184 | 4,582 | (1,736 | ) | 1,173,889 | |||||||||||||||
Income (loss) from operations | 188,552 | 41,379 | (4,297 | ) | (210 | ) | 225,424 | ||||||||||||||
Accretion of discount to the relinquishment liability | (8,248 | ) | — | — | — | (8,248 | ) | ||||||||||||||
Interest expense, net of capitalized interest | (72,520 | ) | (69,533 | ) | (4,979 | ) | 975 | (146,057 | ) | ||||||||||||
Loss on early exchange of debt and write-off of debt issuance costs | (14,326 | ) | — | — | — | (14,326 | ) | ||||||||||||||
Loss on interests in subsidiaries | (30,498 | ) | (1,944 | ) | — | 32,442 | — | ||||||||||||||
Other income, net | 300 | 1,051 | 4,072 | (975 | ) | 4,448 | |||||||||||||||
Net income (loss) | 63,260 | (29,047 | ) | (5,204 | ) | 32,232 | 61,241 | ||||||||||||||
Loss attributable to non-controlling interests | — | — | — | 2,019 | 2,019 | ||||||||||||||||
Net income (loss) attributable to Mohegan Tribal Gaming Authority | $ | 63,260 | $ | (29,047 | ) | $ | (5,204 | ) | $ | 34,251 | $ | 63,260 | |||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
For the Fiscal Year Ended September 30, 2011 | |||||||||||||||||||||
Authority | Total | Total Non | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Entities (2) | Adjustments | |||||||||||||||||||
Net revenues | $ | 1,112,021 | $ | 308,274 | $ | — | $ | (1,916 | ) | $ | 1,418,379 | ||||||||||
Operating costs and expenses: | |||||||||||||||||||||
Gaming and other operations | 656,319 | 225,405 | — | (1,916 | ) | 879,808 | |||||||||||||||
Advertising, general and administrative | 183,246 | 31,491 | 3,959 | — | 218,696 | ||||||||||||||||
Depreciation and amortization | 69,388 | 20,644 | — | — | 90,032 | ||||||||||||||||
Severance | 244 | — | — | — | 244 | ||||||||||||||||
Relinquishment liability reassessment | (8,805 | ) | — | — | — | (8,805 | ) | ||||||||||||||
Total operating costs and expenses | 900,392 | 277,540 | 3,959 | (1,916 | ) | 1,179,975 | |||||||||||||||
Income (loss) from operations | 211,629 | 30,734 | (3,959 | ) | — | 238,404 | |||||||||||||||
Accretion of discount to the relinquishment liability | (11,366 | ) | — | — | — | (11,366 | ) | ||||||||||||||
Interest expense, net of capitalized interest | (60,859 | ) | (54,713 | ) | (2,798 | ) | 660 | (117,710 | ) | ||||||||||||
Loss on interests in subsidiaries | (25,311 | ) | (2,053 | ) | — | 27,364 | — | ||||||||||||||
Other income (expense), net | (116 | ) | 721 | 2,570 | (660 | ) | 2,515 | ||||||||||||||
Net income (loss) | 113,977 | (25,311 | ) | (4,187 | ) | 27,364 | 111,843 | ||||||||||||||
Loss attributable to non-controlling interests | — | — | — | 2,134 | 2,134 | ||||||||||||||||
Net income (loss) attributable to Mohegan Tribal Gaming Authority | $ | 113,977 | $ | (25,311 | ) | $ | (4,187 | ) | $ | 29,498 | $ | 113,977 | |||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | ' | ||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS | |||||||||||||||||||||
For the Fiscal Year Ended September 30, 2013 | |||||||||||||||||||||
Authority | Total | Total | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Non-Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Subsidiaries | Adjustments | |||||||||||||||||||
and Entities (2) | |||||||||||||||||||||
Cash flows provided by (used in) operating activities: | |||||||||||||||||||||
Net income | $ | 50,326 | (6,704 | ) | (17,303 | ) | 21,223 | 47,542 | |||||||||||||
Adjustments to reconcile net income to net cash flows provided by operating activities: | |||||||||||||||||||||
Depreciation and amortization | 67,097 | 13,220 | — | — | 80,317 | ||||||||||||||||
Relinquishment liability reassessment | (249 | ) | — | — | — | (249 | ) | ||||||||||||||
Accretion of discount to the relinquishment liability | 4,974 | — | — | — | 4,974 | ||||||||||||||||
Cash paid for accretion of discount to the relinquishment liability | (5,792 | ) | — | — | — | (5,792 | ) | ||||||||||||||
Payment of tender offer costs | (3,104 | ) | — | — | — | (3,104 | ) | ||||||||||||||
Loss on early exchange of debt and write-off of debt issuance costs | 4,531 | — | — | — | 4,531 | ||||||||||||||||
Amortization of debt issuance costs and accretion of bond discounts | 11,968 | — | 317 | — | 12,285 | ||||||||||||||||
Amortization of net deferred gain on settlement of derivative instruments | (76 | ) | — | — | — | (76 | ) | ||||||||||||||
Provision for losses on receivables | 951 | 103 | 2,382 | — | 3,436 | ||||||||||||||||
Loss on disposition of assets | 222 | 19 | — | — | 241 | ||||||||||||||||
Loss from unconsolidated affiliates | (11 | ) | — | 1,564 | — | 1,553 | |||||||||||||||
Changes in operating assets and liabilities: | |||||||||||||||||||||
(Increase) decrease in receivables | 495 | (1,011 | ) | (132 | ) | — | (648 | ) | |||||||||||||
Decrease in inventories | 326 | 122 | — | — | 448 | ||||||||||||||||
(Increase) decrease in other assets | 8,255 | 41 | (5,537 | ) | — | 2,759 | |||||||||||||||
Increase (decrease) in trade payables | (2,367 | ) | 265 | (41 | ) | — | (2,143 | ) | |||||||||||||
Increase (decrease) in accrued interest | (23,183 | ) | — | 117 | — | (23,066 | ) | ||||||||||||||
Increase (decrease) in other liabilities | (21,440 | ) | (773 | ) | 2,156 | — | (20,057 | ) | |||||||||||||
Other cash flows provided by (used in) operating activities | (30,508 | ) | 49,282 | 2,449 | (21,223 | ) | — | ||||||||||||||
Net cash flows provided by (used in) operating activities | 62,415 | 54,564 | (14,028 | ) | — | 102,951 | |||||||||||||||
Cash flows provided by (used in) investing activities: | |||||||||||||||||||||
Purchases of property and equipment, net of change in construction payables | (24,774 | ) | (4,481 | ) | (30,342 | ) | — | (59,597 | ) | ||||||||||||
Issuance of third-party loans and advances | — | — | (2,033 | ) | — | (2,033 | ) | ||||||||||||||
Payments received on third-party loans | 139 | — | — | — | 139 | ||||||||||||||||
(Increase) decrease in restricted cash, net | — | (423 | ) | 33,501 | — | 33,078 | |||||||||||||||
Proceeds from asset sales | 208 | 8 | — | — | 216 | ||||||||||||||||
Investments in unconsolidated affiliates | — | — | (4,971 | ) | — | (4,971 | ) | ||||||||||||||
Other cash flows provided by (used in) investing activities | 24,289 | (22,468 | ) | — | (1,821 | ) | — | ||||||||||||||
Net cash flows used in investing activities | (138 | ) | (27,364 | ) | (3,845 | ) | (1,821 | ) | (33,168 | ) | |||||||||||
Cash flows provided by (used in) financing activities: | |||||||||||||||||||||
Bank Credit Facility borrowings—revolving loan | 3,000 | — | — | — | 3,000 | ||||||||||||||||
Bank Credit Facility repayments—revolving loan | (3,000 | ) | — | — | — | (3,000 | ) | ||||||||||||||
Bank Credit Facility repayments—term loan | (4,000 | ) | — | — | — | (4,000 | ) | ||||||||||||||
Line of Credit borrowings | 24,897 | — | — | — | 24,897 | ||||||||||||||||
Line of Credit repayments | (24,897 | ) | — | — | — | (24,897 | ) | ||||||||||||||
Repayments to Mohegan Tribe | — | — | (9,950 | ) | — | (9,950 | ) | ||||||||||||||
Proceeds from issuance of Senior Unsecured Notes | 500,000 | — | — | — | 500,000 | ||||||||||||||||
Repayments of other long-term debt | (495,561 | ) | — | (40 | ) | — | (495,601 | ) | |||||||||||||
Principal portion of relinquishment liability payments | (45,350 | ) | — | — | — | (45,350 | ) | ||||||||||||||
Distributions to Mohegan Tribe | (50,000 | ) | — | — | — | (50,000 | ) | ||||||||||||||
Payments of financing fees | (11,757 | ) | — | (200 | ) | — | (11,957 | ) | |||||||||||||
Payments on capital lease obligations | (3,385 | ) | — | — | — | (3,385 | ) | ||||||||||||||
Other cash flows provided by (used in) financing activities | — | (30,302 | ) | 28,481 | 1,821 | — | |||||||||||||||
Net cash flows provided by (used in) financing activities | (110,053 | ) | (30,302 | ) | 18,291 | 1,821 | (120,243 | ) | |||||||||||||
Net increase (decrease) in cash and cash equivalents | (47,776 | ) | (3,102 | ) | 418 | — | (50,460 | ) | |||||||||||||
Cash and cash equivalents at beginning of year | 91,836 | 21,757 | 491 | — | 114,084 | ||||||||||||||||
Cash and cash equivalents at end of year | $ | 44,060 | $ | 18,655 | $ | 909 | $ | — | $ | 63,624 | |||||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
For the Fiscal Year Ended September 30, 2012 | |||||||||||||||||||||
Authority | Total | Total | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Non-Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Subsidiaries | Adjustments | |||||||||||||||||||
and Entities (2) | |||||||||||||||||||||
Net cash flows provided by (used in) operating activities | $ | 122,057 | $ | 59,240 | $ | (4,300 | ) | $ | — | $ | 176,997 | ||||||||||
Cash flows provided by (used in) investing activities: | |||||||||||||||||||||
Purchases of property and equipment, net of change in construction payables | (37,523 | ) | (7,175 | ) | (2,773 | ) | — | (47,471 | ) | ||||||||||||
(Increase) decrease in restricted cash, net | — | 313 | (45,544 | ) | — | (45,231 | ) | ||||||||||||||
Other cash flows provided by (used in) investing activities | 53,718 | 3,372 | (902 | ) | (54,822 | ) | 1,366 | ||||||||||||||
Net cash flows provided by (used in) investing activities | 16,195 | (3,490 | ) | (49,219 | ) | (54,822 | ) | (91,336 | ) | ||||||||||||
Cash flows provided by (used in) financing activities: | |||||||||||||||||||||
Bank Credit Facility borrowings—revolving loan | 154,000 | — | — | — | 154,000 | ||||||||||||||||
Bank Credit Facility repayments—revolving loan | (289,000 | ) | — | — | — | (289,000 | ) | ||||||||||||||
Bank Credit Facility repayments—term loan | (3,000 | ) | — | — | — | (3,000 | ) | ||||||||||||||
Term Loan Facility borrowings, net of discount | 220,500 | — | — | — | 220,500 | ||||||||||||||||
Line of Credit borrowings | 225,215 | — | — | — | 225,215 | ||||||||||||||||
Line of Credit repayments | (225,215 | ) | — | — | — | (225,215 | ) | ||||||||||||||
Borrowings from Mohegan Tribe | — | — | 20,600 | — | 20,600 | ||||||||||||||||
Payments on long-term debt | (66,454 | ) | — | — | — | (66,454 | ) | ||||||||||||||
Salishan-Mohegan Bank Credit Facility repayments— revolving loan | — | — | (15,250 | ) | — | (15,250 | ) | ||||||||||||||
Downs Lodging Credit Facility borrowings—term loan | — | — | 45,000 | — | 45,000 | ||||||||||||||||
Principal portion of relinquishment liability payments | (45,258 | ) | — | — | — | (45,258 | ) | ||||||||||||||
Distributions to Mohegan Tribe | (52,950 | ) | — | — | — | (52,950 | ) | ||||||||||||||
Payments of financing fees | (50,440 | ) | — | (1,073 | ) | — | (51,513 | ) | |||||||||||||
Other cash flows provided by (used in) financing activities | (2,832 | ) | (56,924 | ) | 4,508 | 54,822 | (426 | ) | |||||||||||||
Net cash flows provided by (used in) financing activities | (135,434 | ) | (56,924 | ) | 53,785 | 54,822 | (83,751 | ) | |||||||||||||
Net increase (decrease) in cash and cash equivalents | 2,818 | (1,174 | ) | 266 | — | 1,910 | |||||||||||||||
Cash and cash equivalents at beginning of year | 89,018 | 22,931 | 225 | — | 112,174 | ||||||||||||||||
Cash and cash equivalents at end of year | $ | 91,836 | $ | 21,757 | $ | 491 | $ | — | $ | 114,084 | |||||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. | ||||||||||||||||||||
For the Fiscal Year Ended September 30, 2011 | |||||||||||||||||||||
Authority | Total | Total Non | Consolidating/ | Consolidated | |||||||||||||||||
Guarantor | Guarantor | Eliminating | |||||||||||||||||||
Subsidiaries (1) | Entities (2) | Adjustments | |||||||||||||||||||
Net cash flows provided by (used in) operating activities | $ | 149,111 | $ | 49,528 | $ | (4,361 | ) | $ | — | $ | 194,278 | ||||||||||
Cash flows provided by (used in) investing activities: | |||||||||||||||||||||
Purchases of property and equipment, net of change in construction payables | (37,530 | ) | (14,463 | ) | — | — | (51,993 | ) | |||||||||||||
Other cash flows provided by (used in) investing activities | 35,936 | 1 | (656 | ) | (35,465 | ) | (184 | ) | |||||||||||||
Net cash flows used in investing activities | (1,594 | ) | (14,462 | ) | (656 | ) | (35,465 | ) | (52,177 | ) | |||||||||||
Cash flows provided by (used in) financing activities: | |||||||||||||||||||||
Bank Credit Facility borrowings—revolving loan | 431,000 | — | — | — | 431,000 | ||||||||||||||||
Bank Credit Facility repayments—revolving loan | (423,000 | ) | — | — | — | (423,000 | ) | ||||||||||||||
Line of Credit borrowings | 525,913 | — | — | — | 525,913 | ||||||||||||||||
Line of Credit repayments | (533,300 | ) | — | — | — | (533,300 | ) | ||||||||||||||
Principal portion of relinquishment liability payments | (42,644 | ) | — | — | — | (42,644 | ) | ||||||||||||||
Distributions to Mohegan Tribe | (47,050 | ) | — | — | — | (47,050 | ) | ||||||||||||||
Other cash flows provided by (used in) financing activities | (8,564 | ) | (36,452 | ) | 4,808 | 35,465 | (4,743 | ) | |||||||||||||
Net cash flows provided by (used in) financing activities | (97,645 | ) | (36,452 | ) | 4,808 | 35,465 | (93,824 | ) | |||||||||||||
Net increase (decrease) in cash and cash equivalents | 49,872 | (1,386 | ) | (209 | ) | — | 48,277 | ||||||||||||||
Cash and cash equivalents at beginning of year | 39,146 | 24,317 | 434 | — | 63,897 | ||||||||||||||||
Cash and cash equivalents at end of year | $ | 89,018 | $ | 22,931 | $ | 225 | $ | — | $ | 112,174 | |||||||||||
-1 | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | ||||||||||||||||||||
-2 | Includes Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. |
Organization_Detail
Organization (Detail) | 12 Months Ended | 1 Months Ended | 5 Months Ended | 12 Months Ended | 1 Months Ended | 5 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | |||||||||||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 28, 2013 | Feb. 28, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Feb. 28, 2013 | Feb. 28, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 31, 2012 | Jun. 30, 2013 | |
Cowlitz Project | Mohegan Tribe Of Indians Of Connecticut | Mohegan Tribe Of Indians Of Connecticut | Mohegan Tribe Of Indians Of Connecticut | Mohegan Tribe Of Indians Of Connecticut | Mohegan Tribal Gaming Authority | Mohegan Tribal Gaming Authority | Mohegan Basketball Club Llc | Mohegan Commercial Ventures Pa Llc | Downs Racing, L.P. | Mohegan Ventures-Northwest, LLC | Mohegan Ventures Wisconsin, LLC | Mtga Gaming Llc | Mtga Gaming Llc | Mtga Gaming Llc | Mohegan Gaming Hospitality Llc | Mohegan Resorts Llc | Mohegan Resorts Llc | Mohegan Gaming Advisors | Mohegan Gaming Advisors | Mohegan Gaming Advisors | |
Salishan-Mohegan Two | acre | Salishan-Mohegan, LLC | Mohegan Gaming Hospitality Llc | Mohegan Gaming Hospitality Llc | acre | Pocono Downs Subsidiaries | WNBA, LLC | Pocono Downs Subsidiaries | acre | Salishan-Mohegan, LLC | Wisconsin Tribal Gaming, LLC | Mohegan Gaming Hospitality Llc | Mohegan Gaming Hospitality Llc | Mohegan Gaming Hospitality Llc | Mohegan Resorts Llc | Mohegan Resorts New York Llc And Mohegan Gaming New York Llc | Mohegan Resorts Mass Llc | Mohegan New Jersey Entities | Resorts Casino Hotel In Atlantic City New Jersey | Mohegan Pa Entities | |
Salishan-Mohegan, LLC | |||||||||||||||||||||
Entity Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Size of tribe reservation | ' | 544 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Size of gaming and entertainment complex | ' | ' | ' | ' | ' | 185 | ' | ' | ' | 400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Membership or limited partnership interest percentage | 100.00% | ' | 9.85% | 51.00% | 51.00% | ' | 99.99% | 4.20% | ' | ' | 49.15% | 100.00% | 100.00% | 49.00% | 49.00% | 100.00% | 100.00% | 100.00% | 100.00% | 10.00% | 100.00% |
General partnership interest percentage | ' | ' | ' | ' | ' | ' | ' | ' | 0.01% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis_of_Presentation_and_Summ3
Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2012 | Oct. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Oct. 31, 2006 | Sep. 30, 2006 | Jun. 10, 2010 | Sep. 30, 2013 | |
A 2012 Restructuring Plan | Mohegan Gaming Advisors | Maximum | Restatement Adjustment | Restatement Adjustment | Licensing Agreements | Licensing Agreements | Table Game Certificate | Mohegan Sun trademarks | ||||
Employee | Resorts Casino Hotel In Atlantic City New Jersey | 2004 7 1/8% Senior Subordinated Notes, due August 2014 | Pennsylvania Facilities | Pennsylvania Facilities | Pennsylvania Facilities | |||||||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease in other assets, net | $76,967,000 | $69,103,000 | ' | ' | ' | ' | $17,600,000 | ' | ' | ' | ' | ' |
Decrease in long-term debt, net of current portion | 1,628,173,000 | 1,629,003,000 | ' | ' | ' | ' | 17,600,000 | 22,100,000 | ' | ' | ' | ' |
Increase in long-term debt, current | 25,219,000 | 19,787,000 | ' | ' | ' | ' | ' | 22,100,000 | ' | ' | ' | ' |
Loan term | ' | ' | ' | ' | ' | '12 years | ' | ' | ' | ' | ' | ' |
Impairment of property and equipment | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible asset recorded | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | 214,000,000 | 16,500,000 | 119,700,000 |
Relinquishment fee percentage | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reductions to gaming revenues related to discounts provided on patron losses | 11,000,000 | 10,700,000 | 9,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reductions to gaming revenues related to player club points redeemed for cash | 1,400,000 | 1,100,000 | 933,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advertising costs and expenses | 28,200,000 | 28,200,000 | 27,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepaid advertising | $19,000 | $767,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Approximate workforce reductions (in positions) | ' | ' | ' | 330 | ' | ' | ' | ' | ' | ' | ' | ' |
Membership or limited partnership interest percentage | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' |
Reconciliation_of_Longterm_Rec
Reconciliation of Long-term Receivables and the Related Reserves for Doubtful Collection of Long-term Receivables (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | |
Balance, beginning of period | $53,374 | [1] |
Additions: Issuance of affiliate advances and tenant and other loans, including interest receivable | 8,077 | |
Deductions: Payments received | -139 | |
Balance, end of period | 61,312 | [1] |
Affiliates | ' | |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | |
Balance, beginning of period | 49,841 | [1] |
Additions: Issuance of affiliate advances and tenant and other loans, including interest receivable | 7,941 | |
Deductions: Payments received | 0 | |
Balance, end of period | 57,782 | [1] |
Tenants and Others | ' | |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | |
Balance, beginning of period | 3,533 | [1] |
Additions: Issuance of affiliate advances and tenant and other loans, including interest receivable | 136 | |
Deductions: Payments received | -139 | |
Balance, end of period | $3,530 | [1] |
[1] | Includes interest receivable of $29.1 million and $22.9 million as of September 30, 2013 and 2012, respectively. The WTG receivables no longer accrue interest pursuant to a release and reimbursement agreement entered into in September 2010. |
Reconciliation_of_Longterm_Rec1
Reconciliation of Long-term Receivables and the Related Reserves for Doubtful Collection of Long-term Receivables (Parenthetical) (Detail) (Notes Receivable, USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Notes Receivable | ' | ' |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Interest receivable | $29.10 | $22.90 |
Basis_of_Presentation_and_Summ4
Basis of Presentation and Summary of Significant Accounting Policies - Reserves For Doubtful Collection of Long-term Receivable (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Allowance for Loan and Lease Losses [Roll Forward] | ' |
Balance, beginning of period | $21,877 |
Additions: Charges to bad debt expense | 2,382 |
Deductions: Adjustments | -9 |
Balance, end of period | 24,250 |
Affiliates | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' |
Balance, beginning of period | 21,807 |
Additions: Charges to bad debt expense | 2,382 |
Deductions: Adjustments | 0 |
Balance, end of period | 24,189 |
Tenants and Others | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' |
Balance, beginning of period | 70 |
Additions: Charges to bad debt expense | 0 |
Deductions: Adjustments | -9 |
Balance, end of period | $61 |
Basis_of_Presentation_and_Summ5
Basis of Presentation and Summary of Significant Accounting Policies - Property and Equipment (Detail) | 12 Months Ended |
Sep. 30, 2013 | |
Buildings And Land Improvements | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful life | '40 years |
Furniture And Equipment | Minimum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful life | '3 years |
Furniture And Equipment | Maximum | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful life | '7 years |
Basis_of_Presentation_and_Summ6
Basis of Presentation and Summary of Significant Accounting Policies - Fair Value of Financial Instruments (Detail) (USD $) | Sep. 30, 2013 | Oct. 31, 2009 | Sep. 30, 2013 | Mar. 06, 2012 | Sep. 30, 2013 | Aug. 31, 2004 | Sep. 30, 2013 | Feb. 28, 2005 | Sep. 30, 2013 | Mar. 06, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Carrying Value | Carrying Value | Carrying Value | Carrying Value | Carrying Value | Carrying Value | Carrying Value | Carrying Value | Fair Value | Fair Value | Fair Value | Fair Value | Fair Value | Fair Value | Fair Value | Fair Value |
2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2012 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2012 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2004 7 1/8% Senior Subordinated Notes, due August 2014 | 2004 7 1/8% Senior Subordinated Notes, due August 2014 | 2005 6 7/8% Senior Subordinated Notes, due February 2015 | 2005 6 7/8% Senior Subordinated Notes, due February 2015 | 2012 11 % Senior Subordinated Notes, due September 2018 | 2012 11 % Senior Subordinated Notes, due September 2018 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | Fair Value, Inputs, Level 2 | |
Credit Facility | Credit Facility | Senior Secured Notes | Senior Secured Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Credit Facility | Credit Facility | Senior Secured Notes | Senior Secured Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | |||||||||||
Bank Credit Facility, due March 2015 | Term Loan Facility, due March 2016 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2012 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2013 9 3/4% Senior Unsecured Notes, due September 2021 | 2004 7 1/8% Senior Subordinated Notes, due August 2014 | 2005 6 7/8% Senior Subordinated Notes, due February 2015 | 2012 11 % Senior Subordinated Notes, due September 2018 | Bank Credit Facility, due March 2015 | Term Loan Facility, due March 2016 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2012 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2013 9 3/4% Senior Unsecured Notes, due September 2021 | 2004 7 1/8% Senior Subordinated Notes, due August 2014 | 2005 6 7/8% Senior Subordinated Notes, due February 2015 | 2012 11 % Senior Subordinated Notes, due September 2018 | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $393,000 | $221,995 | ' | ' | ' | ' | ' | ' | $393,491 | $229,781 | ' | ' | ' | ' | ' | ' |
Note stated interest rate | 11.50% | 11.50% | 11.50% | 11.50% | 7.13% | 7.13% | 6.88% | 6.88% | 11.00% | 11.00% | ' | ' | 11.50% | 11.50% | 9.75% | 7.13% | 6.88% | 11.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Note value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $195 | $190,902 | $500,000 | $21,156 | $9,654 | $271,022 | ' | ' | $225 | $225,025 | $524,375 | $20,812 | $9,473 | $272,438 |
Basis_of_Presentation_and_Summ7
Basis of Presentation and Summary of Significant Accounting Policies - Promotional Allowance (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Schedule Of Promotional Allowances [Line Items] | ' | ' | ' |
Retail value of providing promotional allowances | $95,857 | $99,197 | $108,809 |
Cost of providing promotional allowances | 81,577 | 85,395 | 91,921 |
Food And Beverage | ' | ' | ' |
Schedule Of Promotional Allowances [Line Items] | ' | ' | ' |
Retail value of providing promotional allowances | 38,390 | 40,925 | 43,710 |
Cost of providing promotional allowances | 34,194 | 37,140 | 40,803 |
Hotel | ' | ' | ' |
Schedule Of Promotional Allowances [Line Items] | ' | ' | ' |
Retail value of providing promotional allowances | 13,799 | 14,127 | 14,850 |
Cost of providing promotional allowances | 7,216 | 7,754 | 8,873 |
Retail, entertainment, and other | ' | ' | ' |
Schedule Of Promotional Allowances [Line Items] | ' | ' | ' |
Retail value of providing promotional allowances | 43,668 | 44,145 | 50,249 |
Cost of providing promotional allowances | $40,167 | $40,501 | $42,245 |
Basis_of_Presentation_and_Summ8
Basis of Presentation and Summary of Significant Accounting Policies - Severence Costs and Expenses (Detail) (A 2012 Restructuring Plan, USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' |
Balance | $12,521 |
Accrued severance at measurement date | 124 |
Adjustments | -95 |
Cash payments | -11,133 |
Balance | 1,417 |
Mohegan Sun | ' |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' |
Balance | 12,497 |
Accrued severance at measurement date | 0 |
Adjustments | -146 |
Cash payments | -10,934 |
Balance | 1,417 |
Corporate and other | ' |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' |
Balance | 24 |
Accrued severance at measurement date | 0 |
Adjustments | 0 |
Cash payments | -24 |
Balance | 0 |
Mohegan Sun at Pocono Downs | ' |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' |
Balance | 0 |
Accrued severance at measurement date | 124 |
Adjustments | 51 |
Cash payments | -175 |
Balance | $0 |
Receivables_Net_Detail
Receivables, Net (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Receivables | $36,311 | $35,678 |
Allowance for doubtful accounts | -10,169 | -9,122 |
Receivables, net | 26,142 | 26,556 |
Gaming | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Receivables | 27,369 | 29,231 |
Hotel | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Receivables | 1,731 | 1,354 |
Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Receivables | $7,211 | $5,093 |
Property_and_Equipment_Net_Sch
Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' |
Property and equipment, gross | $2,451,545 | $2,415,834 |
Accumulated depreciation | -975,370 | -925,436 |
Property and equipment, net | 1,476,175 | 1,490,398 |
Land | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' |
Property and equipment, gross | 65,485 | 64,799 |
Land Improvements | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' |
Property and equipment, gross | 96,735 | 96,603 |
Buildings and improvements | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' |
Property and equipment, gross | 1,691,924 | 1,692,683 |
Furniture And Equipment | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' |
Property and equipment, gross | 541,832 | 541,506 |
Construction in process | ' | ' |
Property, Plant and Equipment, Net, by Type [Abstract] | ' | ' |
Property and equipment, gross | $55,569 | $20,243 |
Property_and_Equipment_Net_Add
Property and Equipment, Net - Additional Information (Detail) (USD $) | 12 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Depreciation expense | $79,800,000 | $84,500,000 | $89,500,000 | ' |
Capitalized interest | 2,000,000 | 34,000 | ' | ' |
Impairment of Project Horizon | ' | ' | ' | 58,100,000 |
Assets anticipated to be utilized under the modified project | $9,400,000 | ' | ' | ' |
Other_Current_Assets_and_Other2
Other Current Assets and Other Current Liabilities (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Other Assets, Current [Abstract] | ' | ' |
Non-qualified deferred compensation | $9,832 | $17,190 |
Prepaid expenses and other miscellaneous current assets | 10,686 | 11,125 |
Total other current assets | 20,518 | 28,315 |
Other Liabilities, Current [Abstract] | ' | ' |
Accrued payroll and related taxes and benefits | 36,538 | 49,064 |
Combined outstanding Slot Win Contribution and free promotional slot play contribution | 12,691 | 13,680 |
Accrued severance | 2,395 | 13,228 |
Amounts due to horsemen | 7,805 | 9,259 |
Other miscellaneous current liabilities | 64,553 | 64,749 |
Total other current liabilities | $123,982 | $149,980 |
LongTerm_Debt_Detail
Long-Term Debt (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Long-term debt, subtotal | $1,682,312 | $1,679,854 |
Plus: net deferred gain on derivative instruments sold | 0 | 386 |
Long-term debt, excluding capital leases | 1,682,312 | 1,680,240 |
Less: current portion of long-term debt | -30,719 | -29,737 |
Long-term debt, net of current portion | 1,651,593 | 1,650,503 |
Credit Facility | Bank Credit Facility, due March 2015 | ' | ' |
Long-term debt, subtotal | 393,000 | 397,000 |
Credit Facility | Term Loan Facility, due March 2016 | ' | ' |
Long-term debt, subtotal | 221,995 | 221,012 |
Credit Facility | Mohegan Tribe Credit Facility, due September 2013 | ' | ' |
Long-term debt, subtotal | 0 | 1,450 |
Credit Facility | Downs Lodging Credit Facility, due July 2016 | ' | ' |
Long-term debt, subtotal | 45,000 | 45,000 |
Senior Secured Notes | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | ' | ' |
Long-term debt, subtotal | 195 | 194 |
Senior Secured Notes | 2012 11 1/2% Second Lien Senior Secured Notes, due November 2017 | ' | ' |
Long-term debt, subtotal | 190,902 | 189,771 |
Senior Secured Notes | 2012 10 1/2% Third Lien Senior Secured Notes, due December 2016 | ' | ' |
Long-term debt, subtotal | 0 | 410,611 |
Senior Unsecured Notes | 2005 6 1/8% Senior Unsecured Notes, due February 2013 | ' | ' |
Long-term debt, subtotal | 0 | 15,775 |
Senior Unsecured Notes | 2013 9 3/4% Senior Unsecured Notes, due September 2021 | ' | ' |
Long-term debt, subtotal | 500,000 | 0 |
Senior Subordinated Notes | 2004 7 1/8% Senior Subordinated Notes, due August 2014 | ' | ' |
Long-term debt, subtotal | 21,156 | 21,156 |
Senior Subordinated Notes | 2005 6 7/8% Senior Subordinated Notes, due February 2015 | ' | ' |
Long-term debt, subtotal | 9,654 | 9,654 |
Senior Subordinated Notes | 2012 11 % Senior Subordinated Notes, due September 2018 | ' | ' |
Long-term debt, subtotal | 271,022 | 338,231 |
Promissory Notes | 2009 Mohegan Tribe Promissory Note, due September 2014 | ' | ' |
Long-term debt, subtotal | 3,500 | 10,000 |
Promissory Notes | 2012 Mohegan Tribe Minor's Trust Promissory Note, due March 2016 | ' | ' |
Long-term debt, subtotal | 18,000 | 20,000 |
Promissory Notes | 2013 Mohegan Tribe Promissory Note, due December 2018 | ' | ' |
Long-term debt, subtotal | 7,420 | 0 |
Promissory Notes | Salishan-Mohegan Promissory Notes, due December 2014 | ' | ' |
Long-term debt, subtotal | $468 | $0 |
LongTerm_Debt_Parenthetical_De
Long-Term Debt (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Oct. 31, 2009 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 06, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 06, 2012 | Sep. 30, 2013 | Feb. 28, 2005 | Sep. 30, 2013 | Aug. 15, 2013 | Sep. 30, 2013 | Aug. 31, 2004 | Sep. 30, 2013 | Feb. 28, 2005 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 06, 2012 |
Credit Facility | Credit Facility | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Unsecured Notes | Senior Unsecured Notes | Senior Unsecured Notes | Senior Unsecured Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | |
Term Loan Facility, due March 2016 | Term Loan Facility, due March 2016 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2012 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2012 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2012 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2012 10 1/2% Third Lien Senior Secured Notes, due December 2016 | 2012 10 1/2% Third Lien Senior Secured Notes, due December 2016 | 2012 10 1/2% Third Lien Senior Secured Notes, due December 2016 | 2005 6 1/8% Senior Unsecured Notes, due February 2013 | 2005 6 1/8% Senior Unsecured Notes, due February 2013 | 2013 9 3/4% Senior Unsecured Notes, due September 2021 | 2012 11 % Senior Subordinated Notes, due September 2018 | 2004 7 1/8% Senior Subordinated Notes, due August 2014 | 2004 7 1/8% Senior Subordinated Notes, due August 2014 | 2005 6 7/8% Senior Subordinated Notes, due February 2015 | 2005 6 7/8% Senior Subordinated Notes, due February 2015 | 2012 11 % Senior Subordinated Notes, due September 2018 | 2012 11 % Senior Subordinated Notes, due September 2018 | 2012 11 % Senior Subordinated Notes, due September 2018 | |
Interest rate | ' | ' | 11.50% | ' | 11.50% | 11.50% | ' | 11.50% | 10.50% | ' | 10.50% | 6.13% | 6.13% | 9.75% | 9.75% | 7.13% | 7.13% | 6.88% | 6.88% | 11.00% | ' | 11.00% |
Unamortized discount | $3,005,000 | $3,988,000 | $5,000 | $6,000 | ' | $8,898,000 | $10,029,000 | ' | ' | $7,160,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,168,000 | $5,959,000 | ' |
Maturities_of_LongTerm_Debt_De
Maturities of Long-Term Debt (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Long-term Debt, Fiscal Year Maturity [Abstract] | ' |
2014 | $30,719 |
2015 | 405,059 |
2016 | 280,000 |
2017 | 0 |
2018 | 475,190 |
Thereafter | 507,420 |
Total | $1,698,388 |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Aug. 15, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Aug. 15, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Feb. 28, 2005 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 06, 2012 | Mar. 06, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Oct. 31, 2009 | Sep. 30, 2013 | Aug. 15, 2013 | Sep. 30, 2012 | Mar. 06, 2012 | Mar. 06, 2012 | Mar. 06, 2012 | Sep. 30, 2013 | Mar. 06, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 06, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Jul. 16, 2012 | Sep. 30, 2013 | Mar. 06, 2012 | Sep. 30, 2013 | Aug. 15, 2013 | Sep. 30, 2012 | Mar. 06, 2012 | Mar. 06, 2012 | Mar. 06, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 06, 2012 | Aug. 31, 2004 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 06, 2012 | Feb. 28, 2005 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | 31-May-12 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 29, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | |
Senior Unsecured Notes | Senior Unsecured Notes | Senior Unsecured Notes | Senior Unsecured Notes | Senior Unsecured Notes | Senior Unsecured Notes | Senior Unsecured Notes | Senior Unsecured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Credit Facility | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Senior Subordinated Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | Promissory Notes | |||||
2013 9 3/4% Senior Unsecured Notes, due September 2021 | 2013 9 3/4% Senior Unsecured Notes, due September 2021 | 2013 9 3/4% Senior Unsecured Notes, due September 2021 | 2012 11 % Senior Subordinated Notes, due September 2018 | 2012 11 % Senior Subordinated Notes, due September 2018 | 2005 6 1/8% Senior Unsecured Notes, due February 2013 | 2005 6 1/8% Senior Unsecured Notes, due February 2013 | 2005 6 1/8% Senior Unsecured Notes, due February 2013 | 2012 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2012 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2012 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2012 10 1/2% Third Lien Senior Secured Notes, due December 2016 | 2012 10 1/2% Third Lien Senior Secured Notes, due December 2016 | 2012 10 1/2% Third Lien Senior Secured Notes, due December 2016 | 2012 10 1/2% Third Lien Senior Secured Notes, due December 2016 | 2005 Senior Unsecured Notes | 2002 Senior Subordinated Notes | Long-term Debt | Bank Credit Facility, due March 2015 | Bank Credit Facility, due March 2015 | Bank Credit Facility, due March 2015 | Bank Credit Facility, due March 2015 | Bank Credit Facility, due March 2015 | Bank Credit Facility, due March 2015 | Bank Credit Facility, due March 2015 | Bank Credit Facility, due March 2015 | Bank Credit Facility, due March 2015 | Bank Credit Facility, due March 2015 | Bank Credit Facility, due March 2015 | Term Loan Facility, due March 2016 | Term Loan Facility, due March 2016 | Term Loan Facility, due March 2016 | Term Loan Facility, due March 2016 | Term Loan Facility, due March 2016 | Bank of America, N.A. Line of Credit | Mohegan Tribe Credit Facility, due September 2013 | Mohegan Tribe Credit Facility, due September 2013 | Mohegan Tribe Credit Facility, due September 2013 | Downs Lodging Credit Facility, due July 2016 | Downs Lodging Credit Facility, due July 2016 | Downs Lodging Credit Facility, due July 2016 | Downs Lodging Credit Facility, due July 2016 | Letter of Credit | Letter of Credit | 2012 11 % Senior Subordinated Notes, due September 2018 | 2012 11 % Senior Subordinated Notes, due September 2018 | 2012 11 % Senior Subordinated Notes, due September 2018 | 2012 11 % Senior Subordinated Notes, due September 2018 | 2012 11 % Senior Subordinated Notes, due September 2018 | 2012 11 % Senior Subordinated Notes, due September 2018 | 2004 7 1/8% Senior Subordinated Notes, due August 2014 | 2004 7 1/8% Senior Subordinated Notes, due August 2014 | 2004 7 1/8% Senior Subordinated Notes, due August 2014 | 2004 7 1/8% Senior Subordinated Notes, due August 2014 | 2005 6 7/8% Senior Subordinated Notes, due February 2015 | 2005 6 7/8% Senior Subordinated Notes, due February 2015 | 2005 6 7/8% Senior Subordinated Notes, due February 2015 | 2005 6 7/8% Senior Subordinated Notes, due February 2015 | 2009 Mohegan Tribe Promissory Note, due September 2014 | 2009 Mohegan Tribe Promissory Note, due September 2014 | 2009 Mohegan Tribe Promissory Note, due September 2014 | 2009 Mohegan Tribe Promissory Note, due September 2014 | 2009 Mohegan Tribe Promissory Note, due September 2014 | 2012 Mohegan Tribe Minor's Trust Promissory Note, due March 2016 | 2012 Mohegan Tribe Minor's Trust Promissory Note, due March 2016 | 2012 Mohegan Tribe Minor's Trust Promissory Note, due March 2016 | 2012 Mohegan Tribe Minor's Trust Promissory Note, due March 2016 | 2012 Mohegan Tribe Minor's Trust Promissory Note, due March 2016 | 2013 Mohegan Tribe Promissory Note, due December 2018 | 2013 Mohegan Tribe Promissory Note, due December 2018 | 2013 Mohegan Tribe Promissory Note, due December 2018 | Salishan-Mohegan Promissory Notes, due December 2014 | Salishan-Mohegan Promissory Notes, due December 2014 | Salishan-Mohegan Promissory Notes, due December 2014 | Salishan-Mohegan Promissory Notes, due December 2014 | Salishan-Mohegan Promissory Notes, due December 2014 | Salishan-Mohegan Promissory Notes, due December 2014 | Salishan-Mohegan Promissory Notes, due December 2014 | |||||
2012 11 1/2% Second Lien Senior Secured Notes, due November 2017 | Base Rate Term Loans | Eurodollar Rate Term Loans | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Base Rate Term Loans | Eurodollar Rate Term Loans | Downs Lodging LLC | Downs Lodging LLC | Bank Credit Facility, due March 2015 | Bank Credit Facility, due March 2015 | A 2004 Senior Subordinated Notes | A 2005 Senior Subordinated Notes | Commencing December 31, 2012 through September 30, 2013 | Commencing December 31, 2013 | Commencing December 312012 Through September 302014 [Member] | Commencing December 312014 To Maturity [Member] | Loan One | Loan Two | Commencing December 31, 2012 to July 31, 2014 | Commencing August 31, 2014 through Maturity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Base Rate Revolving Loans [Member] | Eurodollar Rate Revolving Loans | Base Rate Revolving Loans [Member] | Eurodollar Rate Revolving Loans | Loan One | Loan One | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loan face amount | ' | ' | ' | ' | $500,000,000 | ' | ' | ' | ' | ' | ' | $250,000,000 | ' | ' | $199,800,000 | ' | ' | ' | $200,000,000 | ' | ' | ' | $417,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $225,000,000 | ' | $225,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $45,000,000 | ' | ' | ' | ' | ' | $344,200,000 | ' | ' | ' | ' | ' | $225,000,000 | ' | ' | ' | $150,000,000 | ' | ' | $10,000,000 | ' | ' | ' | ' | $20,000,000 | ' | ' | ' | $7,400,000 | ' | ' | ' | ' | $150,000 | $375,000 | ' | ' |
Principal amount tendered and exchanged | ' | ' | ' | ' | 69,000,000 | ' | ' | ' | 69,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 69,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Refinancing costs | ' | ' | ' | ' | 12,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Losses on early exchange of debt, previously capitalized transaction costs | 7,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Losses on early exchange of debt, transaction costs not previously capitalized | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalized refinancing costs | ' | ' | ' | ' | ' | 8,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,898,000 | 10,029,000 | ' | ' | 5,000 | 6,000 | ' | ' | ' | 7,160,000 | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,005,000 | 3,988,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,168,000 | ' | 5,959,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,500,000 | ' | ' | 1,450,000 | ' | ' | ' | ' | ' | 75,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment rate, quarterly | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt outstanding | 1,682,312,000 | 1,679,854,000 | ' | ' | ' | 500,000,000 | 0 | ' | ' | 0 | 15,775,000 | ' | 190,902,000 | 189,771,000 | ' | ' | 195,000 | 194,000 | ' | 0 | ' | 410,611,000 | ' | ' | ' | ' | ' | 393,000,000 | 397,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 221,995,000 | 221,012,000 | ' | ' | ' | ' | 0 | 1,450,000 | ' | 45,000,000 | 45,000,000 | ' | ' | ' | ' | 271,022,000 | ' | 338,231,000 | ' | ' | ' | 21,156,000 | 21,156,000 | ' | ' | 9,654,000 | 9,654,000 | ' | ' | 3,500,000 | 10,000,000 | ' | ' | ' | 18,000,000 | 20,000,000 | ' | ' | ' | 7,420,000 | ' | 0 | 468,000 | ' | 0 | ' | ' | ' | ' |
Letters of credit issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility remaining borrowing capacity inclusive of restrictive covenant requirements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 71,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis spread on variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.50% | ' | 3.25% | 4.50% | ' | 2.25% | 3.50% | ' | 3.25% | 4.50% | ' | ' | ' | 6.50% | 7.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable rate basis floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fee assessed on unused revolving credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | 0.25% | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest | 23,296,000 | 46,362,000 | ' | ' | ' | 6,200,000 | ' | ' | ' | ' | 81,000 | ' | 9,600,000 | 13,100,000 | ' | ' | 10,000 | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | 61,000 | 211,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | 1,200,000 | ' | ' | ' | ' | 249,000 | ' | ' | ' | ' | 375,000 | ' | ' | ' | 1,300,000 | ' | 1,700,000 | ' | ' | ' | 188,000 | 148,000 | ' | ' | 83,000 | 56,000 | ' | ' | 4,700,000 | 3,900,000 | ' | ' | ' | 5,000 | 16,000 | ' | ' | ' | 1,000 | ' | ' | ' | 0 | ' | ' | ' | ' | ' |
Issued at percent of par | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 96.23% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 98.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial yield per annum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | ' | ' | ' | ' | ' | 9.75% | ' | ' | 9.75% | 6.13% | ' | 6.13% | 11.50% | ' | 11.50% | ' | 11.50% | ' | 11.50% | 10.50% | ' | ' | 10.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.00% | ' | ' | 11.00% | ' | ' | 11.00% | ' | ' | 7.13% | ' | ' | 7.13% | 6.88% | ' | ' | 6.88% | ' | ' | 10.00% | ' | ' | ' | ' | 10.00% | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | 7.00% | ' | ' |
Debt extinguished | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 199,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt outstanding before discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable rate before cutoff | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable rate after cutoff upon change of control | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable rate upon certain conditions | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount tendered and exchanged | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 234,200,000 | 183,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 203,800,000 | 140,300,000 | ' | ' | 203,800,000 | ' | ' | ' | 140,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable rate | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchased face amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 417,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment in Kind (PIK) interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal outstanding | ' | ' | ' | ' | ' | ' | ' | 275,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly interest payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly amortization of principal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,625,000 | 875,000 | ' | ' | ' | 500,000 | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | 10,000 |
Interest rate, due monthly | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate, due at maturity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exit fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred gain on discontinuation of fair value hedge | 0 | ' | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of deferred gains associatied with discontinuation of fair value hedge | ($76,000) | ($255,000) | ($467,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Leases_Minimum_Future_Rental_I
Leases - Minimum Future Rental Income (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Minimum future rental income | ' |
2014 | $6,927 |
2015 | 6,934 |
2016 | 6,236 |
2017 | 3,912 |
2018 | 3,288 |
Thereafter | 8,891 |
Total | $36,188 |
Leases_Additional_Information_
Leases - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Operating Leased Assets [Line Items] | ' | ' | ' |
Rental expense | $11 | $12.60 | $13.30 |
Leases_Minimum_Future_Rental_E
Leases - Minimum Future Rental Expenses (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Operating Leases, Income Statement [Abstract] | ' |
2014 | $1,859 |
2015 | 1,768 |
2016 | 949 |
2017 | 846 |
2018 | 830 |
Thereafter | 1,730 |
Total | $7,982 |
Related_party_Transactions_Add
Related party Transactions - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 5 Months Ended | 1 Months Ended | 5 Months Ended | |||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Mar. 31, 2013 | Feb. 28, 2013 | Feb. 28, 2013 | Feb. 28, 2013 | Feb. 28, 2013 | Mar. 29, 2013 | |
Mohegan Tribe Of Indians Of Connecticut | Mohegan Tribe Of Indians Of Connecticut | Mohegan Tribe Of Indians Of Connecticut | Mohegan Sun | Mohegan Sun | Mohegan Sun | Mohegan Tribal Utility Authority | Mohegan Tribal Utility Authority | Mohegan Tribal Utility Authority | Mtga Gaming Llc | Mtga Gaming Llc | Mtga Gaming Llc | Mohegan Tribe Of Indians Of Connecticut | Mohegan Tribe Of Indians Of Connecticut | 2013 Mohegan Tribe Promissory Note, due December 2018 | |||
Employee | Mohegan Gaming Hospitality Llc | Mohegan Gaming Hospitality Llc | Mohegan Gaming Hospitality Llc | Mohegan Gaming Hospitality Llc | Mohegan Gaming Hospitality Llc | Promissory Notes | |||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions to the Tribe | ' | ' | $50,000,000 | $53,000,000 | $47,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenses for services provided to related party | ' | ' | ' | ' | ' | 26,800,000 | 27,000,000 | 27,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Utilities purchased from related party | ' | ' | ' | ' | ' | ' | ' | ' | 17,800,000 | 18,700,000 | 21,500,000 | ' | ' | ' | ' | ' | ' |
Incurred interest expense associated with a related party debt | ' | ' | 3,000,000 | 2,500,000 | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Membership or limited partnership interest percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 49.00% | 49.00% | 51.00% | 51.00% | ' |
Loan face amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,400,000 |
Due to Mohegan Tribe | 6,308,000 | 9,950,000 | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of lease | ' | ' | '25 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Renewable period of additional term | ' | ' | '25 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Monthly payment amount | ' | ' | 75,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bidding threshold established by ordinance | $200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acceptable variance in bid from lowest bid for ordinance to apply | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of employees affiliated with related party | ' | ' | 130 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | ' | ' | ' |
Minimum annual contribution percent per employee | 1.00% | ' | ' |
Maximum annual contribution percent per employee | 25.00% | ' | ' |
Maximum employer match as percent of employee contribution | 50.00% | ' | ' |
Maximum match from employer as a percent of participants' salary | 3.00% | ' | ' |
Rate of discrentionary employer contributions (in dollars per qualified hour) | 0.3 | ' | ' |
Minimum eligibility period | '90 days | ' | ' |
Period to be fully vested | '6 years | ' | ' |
Contributions, net of forfeitures | $2,400,000 | $612,000 | ' |
Deferred Compensation Arrangements [Abstract] | ' | ' | ' |
Percent of employee salary eligible for deferral | 100.00% | ' | ' |
Participant contributions, net of withdrawals and changes in fair value of investments | $7,400,000 | $493,000 | $761,000 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | ||
Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Mohegan Tribe Of Indians Of Connecticut | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Term of lease | ' | '25 years | ' | ' |
Renewable period of additional term | ' | '25 years | ' | ' |
Slot Win Contributions | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Contribution determination criteria 1, percent of gross revenues from slot machines, lesser of | ' | 30.00% | ' | ' |
Contribution determination criteria 2a, lesser of, percent of gross revenues from slot machines, greater of | ' | 25.00% | ' | ' |
Contribution determination criteria 2b, lesser of, set cash contribution | ' | $80,000,000 | ' | ' |
Contribution frequency period | ' | '12 months | ' | ' |
Limitation of excluded free promotional play as a percent of gross revenues from slot machines | 11.00% | 5.50% | ' | ' |
Contribution rate applied to excess free promotional play revenues in excess of limitation, if other than standard rate | ' | 25.00% | ' | ' |
Slot win contributions | ' | 155,800,000 | 173,100,000 | 183,800,000 |
Slot win contributions outstanding | ' | 12,700,000 | 13,700,000 | ' |
Pennsylvania Slot Machine Tax | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Tax rate applied to percent of gross revenues from slot machines | ' | 55.00% | ' | ' |
Portion of taxed revenues subject to minimum annual local share assessment | ' | 2.00% | ' | ' |
Minimum annual local share assessment | ' | 10,000,000 | ' | ' |
Escrow deposit for tax payments | ' | 1,500,000 | ' | ' |
Slot machine tax expense recognized | ' | 124,000,000 | 134,200,000 | 129,700,000 |
Slot machine tax expense, outstanding | ' | 5,500,000 | 5,500,000 | ' |
Pennsylvania Slot Machine Tax | Downs Racing, L.P. | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Number of slot machines at Mohegan Sun at Pocono Downs permitted by license | ' | 3,000 | ' | ' |
Number of slot machines at Mohegan Sun at Pocono Downs permitted by license expandable to | ' | 5,000 | ' | ' |
Pennsylvania Table Game Tax | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Initial tax rate | ' | 14.00% | ' | ' |
Additional local tax | ' | 2.00% | ' | ' |
Initial taxation period | ' | '2 years | ' | ' |
Subsequent table game tax rate | ' | 12.00% | ' | ' |
Table game tax expense recognized | ' | 6,100,000 | 6,800,000 | 6,600,000 |
Table game tax expense outstanding | ' | 127,000 | 92,000 | ' |
Pennsylvania Regulatory Fee | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Fee rate, percent of gross revenues from slot machines and table games | ' | 1.50% | ' | ' |
Regulatory fee recognized | ' | 4,200,000 | 5,100,000 | 5,000,000 |
Regulatory fee outstanding | ' | 132,000 | 129,000 | ' |
Pennsylvania Gaming Control Board Loans | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Loans obtained by PGCB | ' | 36,100,000 | ' | ' |
Additional Loans granted by PGCB | ' | 63,800,000 | ' | ' |
Number of authorized gaming facilities | ' | 14 | ' | ' |
Number of authorized gaming facilities that have commenced operations | ' | 12 | ' | ' |
PGCB loan repayment period | ' | '10 years | ' | ' |
PGCB loan repayment expense | ' | 633,000 | 659,000 | 846,000 |
Horsemen's Agreement | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Purses earned by horsemen and other fees outstanding | ' | 7,800,000 | 9,300,000 | ' |
Priority Distribution Agreement | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Annual initial amount of priority distribution payments | ' | 14,000,000 | ' | ' |
Priority distribution payments | ' | 19,200,000 | 18,800,000 | 18,300,000 |
Town Of Montville Agreement | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Annual payments | ' | $500,000 | ' | ' |
Land Lease Agreement | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Rental fee, percent of annual revenues for periods not occupied by primary tenant | ' | 8.00% | ' | ' |
Land Lease Agreement | Mohegan Tribe Of Indians Of Connecticut | ' | ' | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' | ' | ' |
Term of lease | ' | '25 years | ' | ' |
Renewable period of additional term | ' | '25 years | ' | ' |
Relinquishment_Agreement_Addit
Relinquishment Agreement - Additional Information (Detail) (USD $) | 12 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 1998 | |
RELINQUISHMENT AGREEMENT [Abstract] | ' | ' | ' | ' |
Term of relinquishment agreement | '15 years | ' | ' | ' |
Period following the end of the first three-month period after the relinquishment date upon which senior relinquishment payments start | '25 days | ' | ' | ' |
Period following the end of the first six-month period after the relinquishment date upon which junior relinquishment payments start | '25 days | ' | ' | ' |
Senior and junior relinquishment payment rate as a percent of revenues | 2.50% | ' | ' | ' |
Relinquishment liability | $74,400,000 | $120,800,000 | ' | $549,100,000 |
Relinquishment liability reassessment | 249,000 | 11,439,000 | 8,805,000 | ' |
Accretion of discount to the relinquishment liability | 4,974,000 | 8,248,000 | 11,366,000 | ' |
Total relinquishment payments | 51,200,000 | 54,300,000 | 55,000,000 | ' |
Accrued relinquishment payments | 13,300,000 | 13,300,000 | ' | ' |
Relinquishment liability reassessment credit | $200,000 | $11,400,000 | $8,800,000 | ' |
Relinquishment_Payments_Detail
Relinquishment Payments (Detail) (USD $) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Relinquishment Payments [Abstract] | ' | ' | ' |
Principal | $45,350,000 | $45,258,000 | $42,644,000 |
Accretion of discount | 5,792,000 | 9,028,000 | 12,381,000 |
Total relinquishment payments | $51,200,000 | $54,300,000 | $55,000,000 |
Mohegan_VenturesNorthwest_LLC_
Mohegan Ventures-Northwest, LLC (Cowlitz Project) - Additional Information (Detail) (Cowlitz Project, USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2006 |
acre | |||
Salishan-Mohegan, LLC | ' | ' | ' |
Schedule of Long-term Development Projects [Line Items] | ' | ' | ' |
Development fee | 3.00% | ' | ' |
Area of land purchased (in acres) | ' | ' | 152 |
Term of project | '7 years | ' | ' |
Management fee | 24.00% | ' | ' |
Basis spread on variable rate | 10.00% | ' | ' |
Receivables including accrued interest | $48 | $40 | ' |
Allowance for doubtful collection | $14.40 | $12 | ' |
Salishan-Mohegan, LLC | Mohegan Ventures-Northwest, LLC | ' | ' | ' |
Schedule of Long-term Development Projects [Line Items] | ' | ' | ' |
Membership or limited partnership interest percentage | 49.15% | ' | ' |
Salishan-Mohegan, LLC | Salishan Company Llc | ' | ' | ' |
Schedule of Long-term Development Projects [Line Items] | ' | ' | ' |
Membership or limited partnership interest percentage | 41.00% | ' | ' |
Salishan-Mohegan, LLC | Mohegan Tribe Of Indians Of Connecticut | ' | ' | ' |
Schedule of Long-term Development Projects [Line Items] | ' | ' | ' |
Membership or limited partnership interest percentage | 9.85% | ' | ' |
Salishan-Mohegan Two | Salishan-Mohegan, LLC | ' | ' | ' |
Schedule of Long-term Development Projects [Line Items] | ' | ' | ' |
Membership or limited partnership interest percentage | 100.00% | ' | ' |
Mohegan_VenturesWisconsin_LLC_
Mohegan Ventures-Wisconsin, LLC (Menominee Project) - Additional information (Detail) (Menominee Project, Mohegan Ventures Wisconsin, LLC, Wisconsin Tribal Gaming, LLC) | 1 Months Ended |
Sep. 30, 2010 | |
Menominee Project | Mohegan Ventures Wisconsin, LLC | Wisconsin Tribal Gaming, LLC | ' |
Schedule of Long-term Development Projects [Line Items] | ' |
Membership or limited partnership interest percentage | 100.00% |
Investment_In_Wnba_Franchise_A
Investment In Wnba Franchise - Additional Information (Detail) (Mohegan Basketball Club Llc, USD $) | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2003 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
WNBA, LLC | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' | ' | ' | ' |
Membership or limited partnership interest percentage | ' | 4.20% | ' | ' |
Initial player roster | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' | ' | ' | ' |
Estimated fair value of intangible asset acquired with membership interest | $4,800,000 | ' | ' | ' |
Useful life of intangible asset acquired with membership interest | '7 years | ' | ' | ' |
Franchise Value | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ' | ' | ' | ' |
Estimated fair value of intangible asset acquired with membership interest | 5,500,000 | ' | ' | ' |
Useful life of intangible asset acquired with membership interest | '30 years | ' | ' | ' |
Accumulated amortization | ' | 2,000,000 | 1,800,000 | ' |
Amortization expense | ' | 183,000 | 183,000 | 183,000 |
Expected amortization expenses, 2014 | ' | 183,000 | ' | ' |
Expected amortization expenses, 2015 | ' | 183,000 | ' | ' |
Expected amortization expenses, 2016 | ' | 183,000 | ' | ' |
Expected amortization expenses, 2017 | ' | 183,000 | ' | ' |
Expected amortization expenses, 2018 | ' | $183,000 | ' | ' |
Segment_Reporting_Detail
Segment Reporting (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net revenues | $1,340,028 | $1,399,313 | $1,418,379 |
Income (loss) from operations | 229,506 | 225,424 | 238,404 |
Accretion of discount to the relinquishment liability | -4,974 | -8,248 | -11,366 |
Capital expenditures incurred | 66,053 | 43,642 | 46,477 |
Interest income | 6,271 | 4,492 | 2,732 |
Total assets | 2,136,150 | 2,236,146 | ' |
Interest expense, net of capitalized interest | -170,150 | -146,057 | -117,710 |
Loss on early exchange of debt and write-off of debt issuance costs | -11,516 | -14,326 | 0 |
Other expense, net | -1,595 | -44 | -217 |
Net income (loss) | 47,542 | 61,241 | 111,843 |
Loss attributable to non-controlling interests | 2,784 | 2,019 | 2,134 |
Net income attributable to Mohegan Tribal Gaming Authority | 50,326 | 63,260 | 113,977 |
Mohegan Sun | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net revenues | 1,042,078 | 1,084,017 | 1,115,326 |
Income (loss) from operations | 212,680 | 199,358 | 223,777 |
Capital expenditures incurred | 27,652 | 36,542 | 41,325 |
Total assets | 1,425,152 | 1,484,369 | ' |
Mohegan Sun at Pocono Downs | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net revenues | 296,648 | 314,999 | 303,053 |
Income (loss) from operations | 43,763 | 43,296 | 31,491 |
Capital expenditures incurred | 4,673 | 3,543 | 5,152 |
Total assets | 558,700 | 570,078 | ' |
Corporate and other | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net revenues | 1,302 | 297 | 0 |
Income (loss) from operations | -26,937 | -17,230 | -16,864 |
Capital expenditures incurred | 33,728 | 3,557 | 0 |
Total assets | $152,298 | $181,699 | ' |
Supplemental_Condensed_Consoli2
Supplemental Condensed Consolidating Financial Statement Information - Additional Information (Detail) | Sep. 30, 2013 | Jul. 01, 2011 |
Pocono Downs Subsidiaries | Senior Subordinated Notes | |
2001 8 3/8% Senior Subordinated Notes | ||
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Ownership percentage | 100.00% | ' |
Note stated interest rate | ' | 8.38% |
Supplemental_Condensed_Financi
Supplemental Condensed Financial Statement Information - Balance Sheets (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | ||||
Current assets: | ' | ' | ' | ' | ||||
Cash and cash equivalents | $63,624,000 | $114,084,000 | $112,174,000 | $63,897,000 | ||||
Restricted cash | 13,757,000 | 47,865,000 | ' | ' | ||||
Receivables, net | 26,142,000 | 26,556,000 | ' | ' | ||||
Inventories | 13,990,000 | 14,438,000 | ' | ' | ||||
Other current assets | 20,518,000 | 28,315,000 | ' | ' | ||||
Total current assets | 138,031,000 | 231,258,000 | ' | ' | ||||
Non-current assets: | ' | ' | ' | ' | ||||
Property and equipment, net | 1,476,175,000 | 1,490,398,000 | ' | ' | ||||
Goodwill | 39,459,000 | 39,459,000 | ' | ' | ||||
Other intangible assets, net | 405,518,000 | 405,928,000 | ' | ' | ||||
Other assets, net | 76,967,000 | 69,103,000 | ' | ' | ||||
Intercompany receivables | 0 | 0 | ' | ' | ||||
Investment in subsidiaries | 0 | 0 | ' | ' | ||||
Other assets, net | ' | 339,820,000 | ' | ' | ||||
Total assets | 2,136,150,000 | 2,236,146,000 | ' | ' | ||||
Current liabilities: | ' | ' | ' | ' | ||||
Current liabilities | ' | 300,563,000 | ' | ' | ||||
Current portion of long-term debt | 25,219,000 | 19,787,000 | ' | ' | ||||
Current portion of relinquishment liability | 62,947,000 | 63,312,000 | ' | ' | ||||
Due to Mohegan Tribe | 6,308,000 | 9,950,000 | ' | ' | ||||
Current portion of capital leases | 2,302,000 | 3,385,000 | ' | ' | ||||
Trade payables | 10,531,000 | 12,674,000 | ' | ' | ||||
Construction payables | 11,011,000 | 5,063,000 | ' | ' | ||||
Accrued interest payable | 23,296,000 | 46,362,000 | ' | ' | ||||
Other current liabilities | 123,982,000 | 149,980,000 | ' | ' | ||||
Total current liabilities | 265,596,000 | 310,513,000 | ' | ' | ||||
Non-current liabilities: | ' | ' | ' | ' | ||||
Long-term debt, net of current portion | 1,628,173,000 | 1,629,003,000 | ' | ' | ||||
Due to Mohegan Tribe | ' | 31,450,000 | ' | ' | ||||
Long-term debt and capital leases, net of current portions | ' | 1,634,443,000 | ' | ' | ||||
Relinquishment liability, net of current portion | 11,418,000 | 57,470,000 | ' | ' | ||||
Due to Mohegan Tribe, net of current portion | 23,420,000 | 21,500,000 | ' | ' | ||||
Capital leases, net of current portion | 3,138,000 | 5,440,000 | ' | ' | ||||
Other long-term liabilities | 5,020,000 | 2,957,000 | ' | ' | ||||
Intercompany payables | 0 | 0 | ' | ' | ||||
Accumulated losses in excess of investment in subsidiaries | 0 | ' | ' | ' | ||||
Total liabilities | 1,936,765,000 | 2,026,883,000 | ' | ' | ||||
Capital: | ' | ' | ' | ' | ||||
Retained earnings | 199,236,000 | 208,681,000 | ' | ' | ||||
Mohegan Tribal Gaming Authority capital | 199,236,000 | 208,681,000 | ' | ' | ||||
Non-controlling interests | 149,000 | 582,000 | ' | ' | ||||
Total capital | 199,385,000 | 209,263,000 | 198,724,000 | 132,044,000 | ||||
Total liabilities and capital | 2,136,150,000 | 2,236,146,000 | ' | ' | ||||
Authority | ' | ' | ' | ' | ||||
Current assets: | ' | ' | ' | ' | ||||
Cash and cash equivalents | 44,060,000 | 91,836,000 | 89,018,000 | 39,146,000 | ||||
Restricted cash | 0 | ' | ' | ' | ||||
Receivables, net | 23,186,000 | ' | ' | ' | ||||
Inventories | 12,928,000 | ' | ' | ' | ||||
Other current assets | 18,125,000 | ' | ' | ' | ||||
Total current assets | 98,299,000 | ' | ' | ' | ||||
Non-current assets: | ' | ' | ' | ' | ||||
Property and equipment, net | 1,193,676,000 | 1,233,688,000 | ' | ' | ||||
Goodwill | 0 | ' | ' | ' | ||||
Other intangible assets, net | 120,508,000 | 120,623,000 | ' | ' | ||||
Other assets, net | 35,159,000 | ' | ' | ' | ||||
Intercompany receivables | 238,545,000 | 223,131,000 | ' | ' | ||||
Investment in subsidiaries | 332,737,000 | 351,703,000 | ' | ' | ||||
Other assets, net | ' | 191,015,000 | ' | ' | ||||
Total assets | 2,018,924,000 | 2,120,160,000 | ' | ' | ||||
Current liabilities: | ' | ' | ' | ' | ||||
Current liabilities | ' | 261,433,000 | ' | ' | ||||
Current portion of long-term debt | 25,156,000 | ' | ' | ' | ||||
Current portion of relinquishment liability | 62,947,000 | ' | ' | ' | ||||
Due to Mohegan Tribe | 808,000 | ' | ' | ' | ||||
Current portion of capital leases | 2,302,000 | ' | ' | ' | ||||
Trade payables | 8,901,000 | ' | ' | ' | ||||
Construction payables | 6,790,000 | ' | ' | ' | ||||
Accrued interest payable | 18,616,000 | ' | ' | ' | ||||
Other current liabilities | 93,377,000 | ' | ' | ' | ||||
Total current liabilities | 218,897,000 | ' | ' | ' | ||||
Non-current liabilities: | ' | ' | ' | ' | ||||
Long-term debt, net of current portion | 1,582,768,000 | ' | ' | ' | ||||
Due to Mohegan Tribe | ' | 0 | ' | ' | ||||
Long-term debt and capital leases, net of current portions | ' | 1,589,443,000 | ' | ' | ||||
Relinquishment liability, net of current portion | 11,418,000 | 57,470,000 | ' | ' | ||||
Due to Mohegan Tribe, net of current portion | 0 | ' | ' | ' | ||||
Capital leases, net of current portion | 3,138,000 | ' | ' | ' | ||||
Other long-term liabilities | 2,941,000 | 2,607,000 | ' | ' | ||||
Intercompany payables | 0 | 0 | ' | ' | ||||
Accumulated losses in excess of investment in subsidiaries | 0 | ' | ' | ' | ||||
Total liabilities | 1,819,162,000 | 1,910,953,000 | ' | ' | ||||
Capital: | ' | ' | ' | ' | ||||
Retained earnings | 199,762,000 | ' | ' | ' | ||||
Mohegan Tribal Gaming Authority capital | 199,762,000 | 209,207,000 | ' | ' | ||||
Non-controlling interests | 0 | 0 | ' | ' | ||||
Total capital | 199,762,000 | ' | ' | ' | ||||
Total liabilities and capital | 2,018,924,000 | 2,120,160,000 | ' | ' | ||||
Total Guarantor Subsidiaries | ' | ' | ' | ' | ||||
Current assets: | ' | ' | ' | ' | ||||
Cash and cash equivalents | 18,655,000 | [1] | 21,757,000 | [1] | 22,931,000 | [1] | 24,317,000 | [1] |
Restricted cash | 1,714,000 | [1] | ' | ' | ' | |||
Receivables, net | 2,717,000 | [1] | ' | ' | ' | |||
Inventories | 1,062,000 | [1] | ' | ' | ' | |||
Other current assets | 1,197,000 | [1] | ' | ' | ' | |||
Total current assets | 25,345,000 | [1] | ' | ' | ' | |||
Non-current assets: | ' | ' | ' | ' | ||||
Property and equipment, net | 225,263,000 | [1] | 233,202,000 | [1] | ' | ' | ||
Goodwill | 39,459,000 | [1] | ' | ' | ' | |||
Other intangible assets, net | 285,010,000 | [1] | 285,305,000 | [1] | ' | ' | ||
Other assets, net | 3,891,000 | [1] | ' | ' | ' | |||
Intercompany receivables | 37,149,000 | [1] | 12,448,000 | [1] | ' | ' | ||
Investment in subsidiaries | ' | 557,000 | [1] | ' | ' | |||
Other assets, net | ' | 71,673,000 | [1] | ' | ' | |||
Total assets | 616,117,000 | [1] | 603,185,000 | [1] | ' | ' | ||
Current liabilities: | ' | ' | ' | ' | ||||
Current liabilities | ' | 32,771,000 | [1] | ' | ' | |||
Current portion of long-term debt | 0 | [1] | ' | ' | ' | |||
Current portion of relinquishment liability | 0 | [1] | ' | ' | ' | |||
Due to Mohegan Tribe | 0 | [1] | ' | ' | ' | |||
Current portion of capital leases | 0 | [1] | ' | ' | ' | |||
Trade payables | 1,613,000 | [1] | ' | ' | ' | |||
Construction payables | 558,000 | [1] | ' | ' | ' | |||
Accrued interest payable | 0 | [1] | ' | ' | ' | |||
Other current liabilities | 29,580,000 | [1] | ' | ' | ' | |||
Total current liabilities | 31,751,000 | [1] | ' | ' | ' | |||
Non-current liabilities: | ' | ' | ' | ' | ||||
Long-term debt, net of current portion | 0 | [1] | ' | ' | ' | |||
Due to Mohegan Tribe | ' | 0 | [1] | ' | ' | |||
Long-term debt and capital leases, net of current portions | ' | 0 | [1] | ' | ' | |||
Relinquishment liability, net of current portion | 0 | [1] | 0 | [1] | ' | ' | ||
Due to Mohegan Tribe, net of current portion | 0 | [1] | ' | ' | ' | |||
Capital leases, net of current portion | 0 | [1] | ' | ' | ' | |||
Other long-term liabilities | 0 | [1] | 0 | [1] | ' | ' | ||
Intercompany payables | 236,772,000 | [1] | 222,787,000 | [1] | ' | ' | ||
Accumulated losses in excess of investment in subsidiaries | 6,832,000 | [1] | ' | ' | ' | |||
Total liabilities | 275,355,000 | [1] | 255,558,000 | [1] | ' | ' | ||
Capital: | ' | ' | ' | ' | ||||
Retained earnings | 340,762,000 | [1] | ' | ' | ' | |||
Mohegan Tribal Gaming Authority capital | 340,762,000 | [1] | 347,627,000 | [1] | ' | ' | ||
Non-controlling interests | 0 | [1] | 0 | [1] | ' | ' | ||
Total capital | 340,762,000 | [1] | ' | ' | ' | |||
Total liabilities and capital | 616,117,000 | [1] | 603,185,000 | [1] | ' | ' | ||
Total Non Guarantor Entities | ' | ' | ' | ' | ||||
Current assets: | ' | ' | ' | ' | ||||
Cash and cash equivalents | 909,000 | [2] | 491,000 | [2] | 225,000 | [2] | 434,000 | [2] |
Restricted cash | 12,043,000 | [2] | ' | ' | ' | |||
Receivables, net | 239,000 | [2] | ' | ' | ' | |||
Other current assets | 1,196,000 | [2] | ' | ' | ' | |||
Total current assets | 14,387,000 | [2] | ' | ' | ' | |||
Non-current assets: | ' | ' | ' | ' | ||||
Property and equipment, net | 57,236,000 | [2] | 23,508,000 | [2] | ' | ' | ||
Goodwill | 0 | [2] | ' | ' | ' | |||
Other intangible assets, net | 0 | [2] | 0 | [2] | ' | ' | ||
Other assets, net | 38,127,000 | [2] | ' | ' | ' | |||
Intercompany receivables | 0 | [2] | 0 | [2] | ' | ' | ||
Investment in subsidiaries | 0 | [2] | 0 | [2] | ' | ' | ||
Other assets, net | ' | 77,342,000 | [2] | ' | ' | |||
Total assets | 109,750,000 | [2] | 100,850,000 | [2] | ' | ' | ||
Current liabilities: | ' | ' | ' | ' | ||||
Current liabilities | ' | 6,359,000 | [2] | ' | ' | |||
Current portion of long-term debt | 63,000 | [2] | ' | ' | ' | |||
Current portion of relinquishment liability | 0 | [2] | ' | ' | ' | |||
Due to Mohegan Tribe | 5,500,000 | [2] | ' | ' | ' | |||
Current portion of capital leases | 0 | [2] | ' | ' | ' | |||
Trade payables | 17,000 | [2] | ' | ' | ' | |||
Construction payables | 3,663,000 | [2] | ' | ' | ' | |||
Accrued interest payable | 4,680,000 | [2] | ' | ' | ' | |||
Other current liabilities | 1,025,000 | [2] | ' | ' | ' | |||
Total current liabilities | 14,948,000 | [2] | ' | ' | ' | |||
Non-current liabilities: | ' | ' | ' | ' | ||||
Long-term debt, net of current portion | 45,405,000 | [2] | ' | ' | ' | |||
Due to Mohegan Tribe | ' | 31,450,000 | [2] | ' | ' | |||
Long-term debt and capital leases, net of current portions | ' | 45,000,000 | [2] | ' | ' | |||
Relinquishment liability, net of current portion | 0 | [2] | 0 | [2] | ' | ' | ||
Due to Mohegan Tribe, net of current portion | 23,420,000 | [2] | ' | ' | ' | |||
Capital leases, net of current portion | 0 | [2] | ' | ' | ' | |||
Other long-term liabilities | 2,079,000 | [2] | 350,000 | [2] | ' | ' | ||
Intercompany payables | 38,922,000 | [2] | 12,792,000 | [2] | ' | ' | ||
Accumulated losses in excess of investment in subsidiaries | 0 | [2] | ' | ' | ' | |||
Total liabilities | 124,774,000 | [2] | 95,951,000 | [2] | ' | ' | ||
Capital: | ' | ' | ' | ' | ||||
Retained earnings | -15,024,000 | [2] | ' | ' | ' | |||
Mohegan Tribal Gaming Authority capital | -15,024,000 | [2] | 4,899,000 | [2] | ' | ' | ||
Non-controlling interests | 0 | [2] | 0 | [2] | ' | ' | ||
Total capital | -15,024,000 | [2] | ' | ' | ' | |||
Total liabilities and capital | 109,750,000 | [2] | 100,850,000 | [2] | ' | ' | ||
Consolidating/Eliminating Adjustments | ' | ' | ' | ' | ||||
Current assets: | ' | ' | ' | ' | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 | ||||
Restricted cash | 0 | ' | ' | ' | ||||
Receivables, net | 0 | ' | ' | ' | ||||
Inventories | 0 | ' | ' | ' | ||||
Other current assets | 0 | ' | ' | ' | ||||
Total current assets | 0 | ' | ' | ' | ||||
Non-current assets: | ' | ' | ' | ' | ||||
Property and equipment, net | 0 | 0 | ' | ' | ||||
Goodwill | 0 | ' | ' | ' | ||||
Other intangible assets, net | 0 | 0 | ' | ' | ||||
Other assets, net | -210,000 | ' | ' | ' | ||||
Intercompany receivables | -275,694,000 | -235,579,000 | ' | ' | ||||
Investment in subsidiaries | -332,737,000 | -352,260,000 | ' | ' | ||||
Other assets, net | ' | -210,000 | ' | ' | ||||
Total assets | -608,641,000 | -588,049,000 | ' | ' | ||||
Current liabilities: | ' | ' | ' | ' | ||||
Current liabilities | ' | 0 | ' | ' | ||||
Current portion of long-term debt | 0 | ' | ' | ' | ||||
Current portion of relinquishment liability | 0 | ' | ' | ' | ||||
Due to Mohegan Tribe | 0 | ' | ' | ' | ||||
Current portion of capital leases | 0 | ' | ' | ' | ||||
Trade payables | 0 | ' | ' | ' | ||||
Construction payables | 0 | ' | ' | ' | ||||
Accrued interest payable | 0 | ' | ' | ' | ||||
Other current liabilities | 0 | ' | ' | ' | ||||
Total current liabilities | 0 | ' | ' | ' | ||||
Non-current liabilities: | ' | ' | ' | ' | ||||
Long-term debt, net of current portion | 0 | ' | ' | ' | ||||
Due to Mohegan Tribe | ' | 0 | ' | ' | ||||
Long-term debt and capital leases, net of current portions | ' | 0 | ' | ' | ||||
Relinquishment liability, net of current portion | 0 | 0 | ' | ' | ||||
Due to Mohegan Tribe, net of current portion | 0 | ' | ' | ' | ||||
Capital leases, net of current portion | 0 | ' | ' | ' | ||||
Other long-term liabilities | 0 | 0 | ' | ' | ||||
Intercompany payables | -275,694,000 | -235,579,000 | ' | ' | ||||
Accumulated losses in excess of investment in subsidiaries | -6,832,000 | ' | ' | ' | ||||
Total liabilities | -282,526,000 | -235,579,000 | ' | ' | ||||
Capital: | ' | ' | ' | ' | ||||
Retained earnings | -326,264,000 | ' | ' | ' | ||||
Mohegan Tribal Gaming Authority capital | -326,264,000 | -353,052,000 | ' | ' | ||||
Non-controlling interests | 149,000 | 582,000 | ' | ' | ||||
Total capital | -326,115,000 | ' | ' | ' | ||||
Total liabilities and capital | ($608,641,000) | ($588,049,000) | ' | ' | ||||
[1] | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | |||||||
[2] | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. |
Supplemental_Condensed_Consoli3
Supplemental Condensed Consolidating Financial Statement Information - Statements Of Income (Detail) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Revenues: | ' | ' | ' | |||
Gaming | $1,190,202 | $1,254,558 | $1,289,656 | |||
Food and beverage | 86,251 | 92,149 | 91,072 | |||
Hotel | 40,873 | 39,609 | 35,892 | |||
Retail, entertainment and other | 118,559 | 112,194 | 110,568 | |||
Gross revenues | 1,435,885 | 1,498,510 | 1,527,188 | |||
Less-Promotional allowances | -95,857 | -99,197 | -108,809 | |||
Net revenues | 1,340,028 | 1,399,313 | 1,418,379 | |||
Operating costs and expenses: | ' | ' | ' | |||
Gaming | 708,929 | 771,909 | 790,451 | |||
Gaming and other operations | ' | 871,874 | 879,808 | |||
Food and beverage | 41,575 | 44,949 | 41,515 | |||
Advertising, general and administrative | ' | 215,550 | 218,696 | |||
Hotel | 14,339 | 14,293 | 12,996 | |||
Retail, entertainment and other | 43,859 | 40,723 | 34,846 | |||
Advertising, general and administrative | 192,673 | 198,171 | 201,992 | |||
Corporate | 28,122 | 17,379 | 16,704 | |||
Depreciation and amortization | 80,317 | 85,030 | 90,032 | |||
Loss on disposition of assets | 241 | 353 | 0 | |||
Severance | 29 | 12,521 | 244 | |||
Pre-opening | 687 | 0 | 0 | |||
Relinquishment liability reassessment | -249 | -11,439 | -8,805 | |||
Total operating costs and expenses | 1,110,522 | 1,173,889 | 1,179,975 | |||
Income (loss) from operations | 229,506 | 225,424 | 238,404 | |||
Other income (expense): | ' | ' | ' | |||
Accretion of discount to the relinquishment liability | -4,974 | -8,248 | -11,366 | |||
Interest income | 6,271 | 4,492 | 2,732 | |||
Interest expense, net of capitalized interest | -170,150 | -146,057 | -117,710 | |||
Loss on early exchange of debt and write-off of debt issuance costs | -11,516 | -14,326 | 0 | |||
Loss on early exchange of debt and write-off of debt issuance costs | ' | -14,326 | ' | |||
Loss on interests in subsidiaries | 0 | 0 | 0 | |||
Other expense, net | -1,595 | -44 | -217 | |||
Other income (expense), net | ' | 4,448 | 2,515 | |||
Total other expense | -181,964 | -164,183 | -126,561 | |||
Net income (loss) | 47,542 | 61,241 | 111,843 | |||
Loss attributable to non-controlling interests | 2,784 | 2,019 | 2,134 | |||
Net income (loss) attributable to Mohegan Tribal Gaming Authority | 50,326 | 63,260 | 113,977 | |||
Authority | ' | ' | ' | |||
Revenues: | ' | ' | ' | |||
Gaming | 911,180 | ' | ' | |||
Food and beverage | 59,334 | ' | ' | |||
Hotel | 40,873 | ' | ' | |||
Retail, entertainment and other | 100,545 | ' | ' | |||
Gross revenues | 1,111,932 | ' | ' | |||
Less-Promotional allowances | -76,407 | ' | ' | |||
Net revenues | 1,035,525 | 1,079,411 | 1,112,021 | |||
Operating costs and expenses: | ' | ' | ' | |||
Gaming | 507,069 | ' | ' | |||
Gaming and other operations | ' | 643,557 | 656,319 | |||
Food and beverage | 33,297 | ' | ' | |||
Advertising, general and administrative | ' | 177,486 | 183,246 | |||
Hotel | 14,339 | ' | ' | |||
Retail, entertainment and other | 40,371 | ' | ' | |||
Advertising, general and administrative | 159,869 | ' | ' | |||
Corporate | 14,841 | ' | ' | |||
Depreciation and amortization | 67,097 | 68,666 | 69,388 | |||
Loss on disposition of assets | 222 | 68 | ' | |||
Severance | -146 | 12,521 | 244 | |||
Pre-opening | 0 | ' | ' | |||
Relinquishment liability reassessment | -249 | -11,439 | -8,805 | |||
Total operating costs and expenses | 836,710 | 890,859 | 900,392 | |||
Income (loss) from operations | 198,815 | 188,552 | 211,629 | |||
Other income (expense): | ' | ' | ' | |||
Accretion of discount to the relinquishment liability | -4,974 | -8,248 | -11,366 | |||
Interest income | 146 | ' | ' | |||
Interest expense, net of capitalized interest | -118,303 | -72,520 | -60,859 | |||
Loss on early exchange of debt and write-off of debt issuance costs | -11,516 | ' | ' | |||
Loss on early exchange of debt and write-off of debt issuance costs | ' | -14,326 | ' | |||
Loss on interests in subsidiaries | -13,834 | -30,498 | -25,311 | |||
Other expense, net | -8 | ' | ' | |||
Other income (expense), net | ' | 300 | -116 | |||
Total other expense | -148,489 | ' | ' | |||
Net income (loss) | 50,326 | 63,260 | 113,977 | |||
Loss attributable to non-controlling interests | 0 | 0 | 0 | |||
Net income (loss) attributable to Mohegan Tribal Gaming Authority | 50,326 | 63,260 | 113,977 | |||
Total Guarantor Subsidiaries | ' | ' | ' | |||
Revenues: | ' | ' | ' | |||
Gaming | 279,022 | [1] | ' | ' | ||
Food and beverage | 26,917 | [1] | ' | ' | ||
Hotel | 0 | [1] | ' | ' | ||
Retail, entertainment and other | 16,679 | [1] | ' | ' | ||
Gross revenues | 322,618 | [1] | ' | ' | ||
Less-Promotional allowances | -17,300 | [1] | ' | ' | ||
Net revenues | 305,318 | [1] | 321,563 | [1] | 308,274 | [1] |
Operating costs and expenses: | ' | ' | ' | |||
Gaming | 201,860 | [1] | ' | ' | ||
Gaming and other operations | ' | 230,263 | [1] | 225,405 | [1] | |
Food and beverage | 8,280 | [1] | ' | ' | ||
Advertising, general and administrative | ' | 33,272 | [1] | 31,491 | [1] | |
Hotel | 0 | [1] | ' | ' | ||
Retail, entertainment and other | 5,589 | [1] | ' | ' | ||
Advertising, general and administrative | 32,997 | [1] | ' | ' | ||
Corporate | 0 | [1] | ' | ' | ||
Depreciation and amortization | 13,220 | [1] | 16,364 | [1] | 20,644 | [1] |
Loss on disposition of assets | 19 | [1] | 285 | [1] | ' | |
Severance | 175 | [1] | 0 | [1] | 0 | [1] |
Pre-opening | 687 | [1] | ' | ' | ||
Relinquishment liability reassessment | 0 | [1] | 0 | [1] | 0 | [1] |
Total operating costs and expenses | 262,827 | [1] | 280,184 | [1] | 277,540 | [1] |
Income (loss) from operations | 42,491 | [1] | 41,379 | [1] | 30,734 | [1] |
Other income (expense): | ' | ' | ' | |||
Accretion of discount to the relinquishment liability | 0 | [1] | 0 | [1] | 0 | [1] |
Interest income | 2,320 | [1] | ' | ' | ||
Interest expense, net of capitalized interest | -44,126 | [1] | -69,533 | [1] | -54,713 | [1] |
Loss on early exchange of debt and write-off of debt issuance costs | 0 | [1] | ' | ' | ||
Loss on early exchange of debt and write-off of debt issuance costs | ' | 0 | [1] | ' | ||
Loss on interests in subsidiaries | -7,389 | [1] | -1,944 | [1] | -2,053 | [1] |
Other expense, net | 0 | [1] | ' | ' | ||
Other income (expense), net | ' | 1,051 | [1] | 721 | [1] | |
Total other expense | -49,195 | [1] | ' | ' | ||
Net income (loss) | -6,704 | [1] | -29,047 | [1] | -25,311 | [1] |
Loss attributable to non-controlling interests | 0 | [1] | 0 | [1] | 0 | [1] |
Net income (loss) attributable to Mohegan Tribal Gaming Authority | -6,704 | [1] | -29,047 | [1] | -25,311 | [1] |
Total Non Guarantor Entities | ' | ' | ' | |||
Revenues: | ' | ' | ' | |||
Gaming | 0 | [2] | ' | ' | ||
Food and beverage | 0 | [2] | ' | ' | ||
Hotel | 0 | [2] | ' | ' | ||
Retail, entertainment and other | 1,575 | [2] | ' | ' | ||
Gross revenues | 1,575 | [2] | ' | ' | ||
Less-Promotional allowances | -4 | [2] | ' | ' | ||
Net revenues | 1,571 | [2] | 285 | [2] | 0 | [2] |
Operating costs and expenses: | ' | ' | ' | |||
Gaming | 0 | [2] | ' | ' | ||
Gaming and other operations | ' | 0 | [2] | 0 | [2] | |
Food and beverage | -2 | [2] | ' | ' | ||
Advertising, general and administrative | ' | 4,582 | [2] | 3,959 | [2] | |
Hotel | 0 | [2] | ' | ' | ||
Retail, entertainment and other | 0 | [2] | ' | ' | ||
Advertising, general and administrative | 13,373 | [2] | ' | ' | ||
Corporate | 0 | [2] | ' | ' | ||
Depreciation and amortization | 0 | [2] | 0 | [2] | 0 | [2] |
Loss on disposition of assets | 0 | [2] | 0 | [2] | ' | |
Severance | 0 | [2] | 0 | [2] | 0 | [2] |
Pre-opening | 0 | [2] | ' | ' | ||
Relinquishment liability reassessment | 0 | [2] | 0 | [2] | 0 | [2] |
Total operating costs and expenses | 13,371 | [2] | 4,582 | [2] | 3,959 | [2] |
Income (loss) from operations | -11,800 | [2] | -4,297 | [2] | -3,959 | [2] |
Other income (expense): | ' | ' | ' | |||
Accretion of discount to the relinquishment liability | 0 | [2] | 0 | [2] | 0 | [2] |
Interest income | 6,064 | [2] | ' | ' | ||
Interest expense, net of capitalized interest | -9,980 | [2] | -4,979 | [2] | -2,798 | [2] |
Loss on early exchange of debt and write-off of debt issuance costs | 0 | [2] | ' | ' | ||
Loss on early exchange of debt and write-off of debt issuance costs | ' | 0 | [2] | ' | ||
Loss on interests in subsidiaries | 0 | [2] | 0 | [2] | 0 | [2] |
Other expense, net | -1,587 | [2] | ' | ' | ||
Other income (expense), net | ' | 4,072 | [2] | 2,570 | [2] | |
Total other expense | -5,503 | [2] | ' | ' | ||
Net income (loss) | -17,303 | [2] | -5,204 | [2] | -4,187 | [2] |
Loss attributable to non-controlling interests | 0 | [2] | 0 | [2] | 0 | [2] |
Net income (loss) attributable to Mohegan Tribal Gaming Authority | -17,303 | [2] | -5,204 | [2] | -4,187 | [2] |
Consolidating/Eliminating Adjustments | ' | ' | ' | |||
Revenues: | ' | ' | ' | |||
Gaming | 0 | ' | ' | |||
Food and beverage | 0 | ' | ' | |||
Hotel | 0 | ' | ' | |||
Retail, entertainment and other | -240 | ' | ' | |||
Gross revenues | -240 | ' | ' | |||
Less-Promotional allowances | -2,146 | ' | ' | |||
Net revenues | -2,386 | -1,946 | -1,916 | |||
Operating costs and expenses: | ' | ' | ' | |||
Gaming | 0 | ' | ' | |||
Gaming and other operations | ' | -1,946 | -1,916 | |||
Food and beverage | 0 | ' | ' | |||
Advertising, general and administrative | ' | 210 | 0 | |||
Hotel | 0 | ' | ' | |||
Retail, entertainment and other | -2,101 | ' | ' | |||
Advertising, general and administrative | -13,566 | ' | ' | |||
Corporate | 13,281 | ' | ' | |||
Depreciation and amortization | 0 | 0 | 0 | |||
Loss on disposition of assets | 0 | 0 | ' | |||
Severance | 0 | 0 | 0 | |||
Pre-opening | 0 | ' | ' | |||
Relinquishment liability reassessment | 0 | 0 | 0 | |||
Total operating costs and expenses | -2,386 | -1,736 | -1,916 | |||
Income (loss) from operations | 0 | -210 | 0 | |||
Other income (expense): | ' | ' | ' | |||
Accretion of discount to the relinquishment liability | 0 | 0 | 0 | |||
Interest income | -2,259 | ' | ' | |||
Interest expense, net of capitalized interest | 2,259 | 975 | 660 | |||
Loss on early exchange of debt and write-off of debt issuance costs | 0 | ' | ' | |||
Loss on early exchange of debt and write-off of debt issuance costs | ' | 0 | ' | |||
Loss on interests in subsidiaries | 21,223 | 32,442 | 27,364 | |||
Other expense, net | 0 | ' | ' | |||
Other income (expense), net | ' | -975 | -660 | |||
Total other expense | 21,223 | ' | ' | |||
Net income (loss) | 21,223 | 32,232 | 27,364 | |||
Loss attributable to non-controlling interests | 2,784 | 2,019 | 2,134 | |||
Net income (loss) attributable to Mohegan Tribal Gaming Authority | $24,007 | $34,251 | $29,498 | |||
[1] | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | |||||
[2] | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. |
Supplemental_Condensed_Consoli4
Supplemental Condensed Consolidating Financial Statement Information - Statements Of Cash flows (Detail) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Cash flows provided by (used in) operating activities: | ' | ' | ' | |||
Net income | $47,542 | $61,241 | $111,843 | |||
Adjustments to reconcile net income to net cash flows provided by operating activities: | ' | ' | ' | |||
Depreciation and amortization | 80,317 | 85,030 | 90,032 | |||
Relinquishment liability reassessment | -249 | -11,439 | -8,805 | |||
Accretion of discount to the relinquishment liability | 4,974 | 8,248 | 11,366 | |||
Cash paid for accretion of discount to the relinquishment liability | -5,792 | -9,028 | -12,381 | |||
Payment of tender offer costs | -3,104 | 0 | 0 | |||
Loss on early exchange of debt and write-off of debt issuance costs | 4,531 | 14,326 | 0 | |||
Amortization of debt issuance costs and accretion of bond discounts | 12,285 | 9,987 | 7,811 | |||
Amortization of net deferred gain on settlement of derivative instruments | -76 | -255 | -467 | |||
Provision for losses on receivables | 3,436 | 3,189 | 3,128 | |||
Loss on disposition of assets | 241 | 353 | 241 | |||
Loss from unconsolidated affiliates | 1,553 | 0 | 0 | |||
Changes in operating assets and liabilities: | ' | ' | ' | |||
(Increase) decrease in receivables | -648 | -7,676 | 1,470 | |||
(Increase) decrease in inventories | 448 | -410 | 491 | |||
(Increase) decrease in other assets | 2,759 | -4,859 | -4,804 | |||
Increase (decrease) in trade payables | -2,143 | -4,778 | -823 | |||
Increase (decrease) in accrued interest | -23,066 | 17,782 | 1,731 | |||
Increase (decrease) in other liabilities | -20,057 | 15,286 | -6,555 | |||
Net cash flows provided by (used in) operating activities | 102,951 | 176,997 | 194,278 | |||
Cash flows provided by (used in) investing activities: | ' | ' | ' | |||
Purchases of property and equipment, net of change in construction payables | -59,597 | -47,471 | -51,993 | |||
Issuance of third-party loans and advances | -2,033 | -923 | -748 | |||
Payments received on third-party loans | 139 | 146 | 250 | |||
(Increase) decrease in restricted cash, net | 33,078 | -45,231 | 106 | |||
Proceeds from asset sales | 216 | 143 | 208 | |||
Investments in unconsolidated affiliates | -4,971 | 0 | 0 | |||
Other cash flows provided by (used in) investing activities | 0 | 1,366 | -184 | |||
Net cash flows provided by (used in) investing activities | -33,168 | -91,336 | -52,177 | |||
Cash flows provided by (used in) financing activities: | ' | ' | ' | |||
Bank Credit Facility borrowings-revolving loan | 3,000 | 154,000 | 431,000 | |||
Bank Credit Facility repayments-revolving loan | -3,000 | -289,000 | -423,000 | |||
Bank Credit Facility repayments-term loan | -4,000 | -3,000 | 0 | |||
Term Loan Facility borrowings, net of discount | 0 | 220,500 | 0 | |||
Line of Credit borrowings | 24,897 | 225,215 | 525,913 | |||
Line of Credit repayments | -24,897 | -225,215 | -533,300 | |||
Repayments to Mohegan Tribe | -9,950 | 0 | 0 | |||
Borrowings from Mohegan Tribe | 0 | 20,600 | 850 | |||
Proceeds from issuance of Senior Unsecured Notes | 500,000 | 0 | 0 | |||
Payments on long-term debt | ' | -66,454 | ' | |||
Repayments of other long-term debt | -495,601 | -66,454 | -3,010 | |||
Salishan-Mohegan Bank Credit Facility repayments- revolving loan | 0 | -15,250 | 0 | |||
Downs Lodging Credit Facility borrowings-term loan | 0 | 45,000 | 0 | |||
Principal portion of relinquishment liability payments | -45,350 | -45,258 | -42,644 | |||
Distributions to Mohegan Tribe | -50,000 | -52,950 | -47,050 | |||
Payments of financing fees | -11,957 | -51,513 | -4,032 | |||
Payments on capital lease obligations | -3,385 | -706 | -688 | |||
Other cash flows provided by (used in) financing activities | 0 | -426 | -4,743 | |||
Net cash flows provided by (used in) financing activities | -120,243 | -83,751 | -93,824 | |||
Net increase (decrease) in cash and cash equivalents | -50,460 | 1,910 | 48,277 | |||
Cash and cash equivalents at beginning of year | 114,084 | 112,174 | 63,897 | |||
Cash and cash equivalents at end of year | 63,624 | 114,084 | 112,174 | |||
Authority | ' | ' | ' | |||
Cash flows provided by (used in) operating activities: | ' | ' | ' | |||
Net income | 50,326 | 63,260 | 113,977 | |||
Adjustments to reconcile net income to net cash flows provided by operating activities: | ' | ' | ' | |||
Depreciation and amortization | 67,097 | 68,666 | 69,388 | |||
Relinquishment liability reassessment | -249 | -11,439 | -8,805 | |||
Accretion of discount to the relinquishment liability | 4,974 | 8,248 | 11,366 | |||
Cash paid for accretion of discount to the relinquishment liability | -5,792 | ' | ' | |||
Payment of tender offer costs | -3,104 | ' | ' | |||
Loss on early exchange of debt and write-off of debt issuance costs | 4,531 | ' | ' | |||
Amortization of debt issuance costs and accretion of bond discounts | 11,968 | ' | ' | |||
Amortization of net deferred gain on settlement of derivative instruments | -76 | ' | ' | |||
Provision for losses on receivables | 951 | ' | ' | |||
Loss on disposition of assets | 222 | ' | ' | |||
Loss from unconsolidated affiliates | -11 | ' | ' | |||
Changes in operating assets and liabilities: | ' | ' | ' | |||
(Increase) decrease in receivables | 495 | ' | ' | |||
(Increase) decrease in inventories | 326 | ' | ' | |||
(Increase) decrease in other assets | 8,255 | ' | ' | |||
Increase (decrease) in trade payables | -2,367 | ' | ' | |||
Increase (decrease) in accrued interest | -23,183 | ' | ' | |||
Increase (decrease) in other liabilities | -21,440 | ' | ' | |||
Other cash flows provided by (used in) operating activities | -30,508 | ' | ' | |||
Net cash flows provided by (used in) operating activities | 62,415 | 122,057 | 149,111 | |||
Cash flows provided by (used in) investing activities: | ' | ' | ' | |||
Purchases of property and equipment, net of change in construction payables | -24,774 | -37,523 | -37,530 | |||
Issuance of third-party loans and advances | 0 | ' | ' | |||
Payments received on third-party loans | 139 | ' | ' | |||
(Increase) decrease in restricted cash, net | 0 | 0 | ' | |||
Proceeds from asset sales | 208 | ' | ' | |||
Investments in unconsolidated affiliates | 0 | ' | ' | |||
Other cash flows provided by (used in) investing activities | 24,289 | 53,718 | 35,936 | |||
Net cash flows provided by (used in) investing activities | -138 | 16,195 | -1,594 | |||
Cash flows provided by (used in) financing activities: | ' | ' | ' | |||
Bank Credit Facility borrowings-revolving loan | 3,000 | 154,000 | 431,000 | |||
Bank Credit Facility repayments-revolving loan | -3,000 | -289,000 | -423,000 | |||
Bank Credit Facility repayments-term loan | -4,000 | -3,000 | ' | |||
Term Loan Facility borrowings, net of discount | ' | 220,500 | ' | |||
Line of Credit borrowings | 24,897 | 225,215 | 525,913 | |||
Line of Credit repayments | -24,897 | -225,215 | -533,300 | |||
Repayments to Mohegan Tribe | 0 | ' | ' | |||
Borrowings from Mohegan Tribe | ' | 0 | ' | |||
Proceeds from issuance of Senior Unsecured Notes | 500,000 | ' | ' | |||
Payments on long-term debt | ' | -66,454 | ' | |||
Repayments of other long-term debt | -495,561 | ' | ' | |||
Salishan-Mohegan Bank Credit Facility repayments- revolving loan | ' | 0 | ' | |||
Downs Lodging Credit Facility borrowings-term loan | ' | 0 | ' | |||
Principal portion of relinquishment liability payments | -45,350 | -45,258 | -42,644 | |||
Distributions to Mohegan Tribe | -50,000 | -52,950 | -47,050 | |||
Payments of financing fees | -11,757 | -50,440 | ' | |||
Payments on capital lease obligations | -3,385 | ' | ' | |||
Other cash flows provided by (used in) financing activities | 0 | -2,832 | -8,564 | |||
Net cash flows provided by (used in) financing activities | -110,053 | -135,434 | -97,645 | |||
Net increase (decrease) in cash and cash equivalents | -47,776 | 2,818 | 49,872 | |||
Cash and cash equivalents at beginning of year | 91,836 | 89,018 | 39,146 | |||
Cash and cash equivalents at end of year | 44,060 | 91,836 | 89,018 | |||
Total Guarantor Subsidiaries | ' | ' | ' | |||
Cash flows provided by (used in) operating activities: | ' | ' | ' | |||
Net income | -6,704 | [1] | -29,047 | [1] | -25,311 | [1] |
Adjustments to reconcile net income to net cash flows provided by operating activities: | ' | ' | ' | |||
Depreciation and amortization | 13,220 | [1] | 16,364 | [1] | 20,644 | [1] |
Relinquishment liability reassessment | 0 | [1] | 0 | [1] | 0 | [1] |
Accretion of discount to the relinquishment liability | 0 | [1] | 0 | [1] | 0 | [1] |
Provision for losses on receivables | 103 | [1] | ' | ' | ||
Loss on disposition of assets | 19 | [1] | ' | ' | ||
Changes in operating assets and liabilities: | ' | ' | ' | |||
(Increase) decrease in receivables | -1,011 | [1] | ' | ' | ||
(Increase) decrease in inventories | 122 | [1] | ' | ' | ||
(Increase) decrease in other assets | 41 | [1] | ' | ' | ||
Increase (decrease) in trade payables | 265 | [1] | ' | ' | ||
Increase (decrease) in other liabilities | -773 | [1] | ' | ' | ||
Other cash flows provided by (used in) operating activities | 49,282 | [1] | ' | ' | ||
Net cash flows provided by (used in) operating activities | 54,564 | [1] | 59,240 | [1] | 49,528 | [1] |
Cash flows provided by (used in) investing activities: | ' | ' | ' | |||
Purchases of property and equipment, net of change in construction payables | -4,481 | [1] | -7,175 | [1] | -14,463 | [1] |
Issuance of third-party loans and advances | 0 | [1] | ' | ' | ||
Payments received on third-party loans | 0 | [1] | ' | ' | ||
(Increase) decrease in restricted cash, net | -423 | [1] | 313 | [1] | ' | |
Proceeds from asset sales | 8 | [1] | ' | ' | ||
Investments in unconsolidated affiliates | 0 | [1] | ' | ' | ||
Other cash flows provided by (used in) investing activities | -22,468 | [1] | 3,372 | [1] | 1 | [1] |
Net cash flows provided by (used in) investing activities | -27,364 | [1] | -3,490 | [1] | -14,462 | [1] |
Cash flows provided by (used in) financing activities: | ' | ' | ' | |||
Bank Credit Facility borrowings-revolving loan | 0 | [1] | 0 | [1] | 0 | [1] |
Bank Credit Facility repayments-revolving loan | 0 | [1] | 0 | [1] | 0 | [1] |
Bank Credit Facility repayments-term loan | 0 | [1] | 0 | [1] | ' | |
Term Loan Facility borrowings, net of discount | ' | 0 | [1] | ' | ||
Line of Credit borrowings | 0 | [1] | 0 | [1] | 0 | [1] |
Line of Credit repayments | 0 | [1] | 0 | [1] | 0 | [1] |
Repayments to Mohegan Tribe | 0 | [1] | ' | ' | ||
Borrowings from Mohegan Tribe | ' | 0 | [1] | ' | ||
Proceeds from issuance of Senior Unsecured Notes | 0 | [1] | ' | ' | ||
Payments on long-term debt | ' | 0 | [1] | ' | ||
Repayments of other long-term debt | 0 | [1] | ' | ' | ||
Salishan-Mohegan Bank Credit Facility repayments- revolving loan | ' | 0 | [1] | ' | ||
Downs Lodging Credit Facility borrowings-term loan | ' | 0 | [1] | ' | ||
Principal portion of relinquishment liability payments | 0 | [1] | 0 | [1] | 0 | [1] |
Distributions to Mohegan Tribe | 0 | [1] | 0 | [1] | 0 | [1] |
Payments of financing fees | 0 | [1] | 0 | [1] | ' | |
Payments on capital lease obligations | 0 | [1] | ' | ' | ||
Other cash flows provided by (used in) financing activities | -30,302 | [1] | -56,924 | [1] | -36,452 | [1] |
Net cash flows provided by (used in) financing activities | -30,302 | [1] | -56,924 | [1] | -36,452 | [1] |
Net increase (decrease) in cash and cash equivalents | -3,102 | [1] | -1,174 | [1] | -1,386 | [1] |
Cash and cash equivalents at beginning of year | 21,757 | [1] | 22,931 | [1] | 24,317 | [1] |
Cash and cash equivalents at end of year | 18,655 | [1] | 21,757 | [1] | 22,931 | [1] |
Total Non Guarantor Entities | ' | ' | ' | |||
Cash flows provided by (used in) operating activities: | ' | ' | ' | |||
Net income | -17,303 | [2] | -5,204 | [2] | -4,187 | [2] |
Adjustments to reconcile net income to net cash flows provided by operating activities: | ' | ' | ' | |||
Depreciation and amortization | 0 | [2] | 0 | [2] | 0 | [2] |
Relinquishment liability reassessment | 0 | [2] | 0 | [2] | 0 | [2] |
Accretion of discount to the relinquishment liability | 0 | [2] | 0 | [2] | 0 | [2] |
Amortization of debt issuance costs and accretion of bond discounts | 317 | [2] | ' | ' | ||
Provision for losses on receivables | 2,382 | [2] | ' | ' | ||
Loss from unconsolidated affiliates | 1,564 | [2] | ' | ' | ||
Changes in operating assets and liabilities: | ' | ' | ' | |||
(Increase) decrease in receivables | -132 | [2] | ' | ' | ||
(Increase) decrease in other assets | -5,537 | [2] | ' | ' | ||
Increase (decrease) in trade payables | -41 | [2] | ' | ' | ||
Increase (decrease) in accrued interest | 117 | [2] | ' | ' | ||
Increase (decrease) in other liabilities | 2,156 | [2] | ' | ' | ||
Other cash flows provided by (used in) operating activities | 2,449 | [2] | ' | ' | ||
Net cash flows provided by (used in) operating activities | -14,028 | [2] | -4,300 | [2] | -4,361 | [2] |
Cash flows provided by (used in) investing activities: | ' | ' | ' | |||
Purchases of property and equipment, net of change in construction payables | -30,342 | [2] | -2,773 | [2] | 0 | [2] |
Issuance of third-party loans and advances | -2,033 | [2] | ' | ' | ||
Payments received on third-party loans | 0 | [2] | ' | ' | ||
(Increase) decrease in restricted cash, net | 33,501 | [2] | -45,544 | [2] | ' | |
Proceeds from asset sales | 0 | [2] | ' | ' | ||
Investments in unconsolidated affiliates | -4,971 | [2] | ' | ' | ||
Other cash flows provided by (used in) investing activities | 0 | [2] | -902 | [2] | -656 | [2] |
Net cash flows provided by (used in) investing activities | -3,845 | [2] | -49,219 | [2] | -656 | [2] |
Cash flows provided by (used in) financing activities: | ' | ' | ' | |||
Bank Credit Facility borrowings-revolving loan | 0 | [2] | 0 | [2] | 0 | [2] |
Bank Credit Facility repayments-revolving loan | 0 | [2] | 0 | [2] | 0 | [2] |
Bank Credit Facility repayments-term loan | 0 | [2] | 0 | [2] | ' | |
Term Loan Facility borrowings, net of discount | ' | 0 | [2] | ' | ||
Line of Credit borrowings | 0 | [2] | 0 | [2] | 0 | [2] |
Line of Credit repayments | 0 | [2] | 0 | [2] | 0 | [2] |
Repayments to Mohegan Tribe | -9,950 | [2] | ' | ' | ||
Borrowings from Mohegan Tribe | ' | 20,600 | [2] | ' | ||
Proceeds from issuance of Senior Unsecured Notes | 0 | [2] | ' | ' | ||
Payments on long-term debt | ' | 0 | [2] | ' | ||
Repayments of other long-term debt | -40 | [2] | ' | ' | ||
Salishan-Mohegan Bank Credit Facility repayments- revolving loan | ' | -15,250 | [2] | ' | ||
Downs Lodging Credit Facility borrowings-term loan | ' | 45,000 | [2] | ' | ||
Principal portion of relinquishment liability payments | 0 | [2] | 0 | [2] | 0 | [2] |
Distributions to Mohegan Tribe | 0 | [2] | 0 | [2] | 0 | [2] |
Payments of financing fees | -200 | [2] | -1,073 | [2] | ' | |
Payments on capital lease obligations | 0 | [2] | ' | ' | ||
Other cash flows provided by (used in) financing activities | 28,481 | [2] | 4,508 | [2] | 4,808 | [2] |
Net cash flows provided by (used in) financing activities | 18,291 | [2] | 53,785 | [2] | 4,808 | [2] |
Net increase (decrease) in cash and cash equivalents | 418 | [2] | 266 | [2] | -209 | [2] |
Cash and cash equivalents at beginning of year | 491 | [2] | 225 | [2] | 434 | [2] |
Cash and cash equivalents at end of year | 909 | [2] | 491 | [2] | 225 | [2] |
Consolidating/Eliminating Adjustments | ' | ' | ' | |||
Cash flows provided by (used in) operating activities: | ' | ' | ' | |||
Net income | 21,223 | 32,232 | 27,364 | |||
Adjustments to reconcile net income to net cash flows provided by operating activities: | ' | ' | ' | |||
Depreciation and amortization | 0 | 0 | 0 | |||
Relinquishment liability reassessment | 0 | 0 | 0 | |||
Accretion of discount to the relinquishment liability | 0 | 0 | 0 | |||
Changes in operating assets and liabilities: | ' | ' | ' | |||
Other cash flows provided by (used in) operating activities | -21,223 | ' | ' | |||
Net cash flows provided by (used in) operating activities | ' | 0 | 0 | |||
Cash flows provided by (used in) investing activities: | ' | ' | ' | |||
Purchases of property and equipment, net of change in construction payables | 0 | 0 | 0 | |||
Issuance of third-party loans and advances | 0 | ' | ' | |||
Payments received on third-party loans | 0 | ' | ' | |||
(Increase) decrease in restricted cash, net | 0 | 0 | ' | |||
Proceeds from asset sales | 0 | ' | ' | |||
Investments in unconsolidated affiliates | 0 | ' | ' | |||
Other cash flows provided by (used in) investing activities | -1,821 | -54,822 | -35,465 | |||
Net cash flows provided by (used in) investing activities | -1,821 | -54,822 | -35,465 | |||
Cash flows provided by (used in) financing activities: | ' | ' | ' | |||
Bank Credit Facility borrowings-revolving loan | 0 | 0 | 0 | |||
Bank Credit Facility repayments-revolving loan | 0 | 0 | 0 | |||
Bank Credit Facility repayments-term loan | 0 | 0 | ' | |||
Term Loan Facility borrowings, net of discount | ' | 0 | ' | |||
Line of Credit borrowings | 0 | 0 | 0 | |||
Line of Credit repayments | 0 | 0 | 0 | |||
Repayments to Mohegan Tribe | 0 | ' | ' | |||
Borrowings from Mohegan Tribe | ' | 0 | ' | |||
Proceeds from issuance of Senior Unsecured Notes | 0 | ' | ' | |||
Payments on long-term debt | ' | 0 | ' | |||
Repayments of other long-term debt | 0 | ' | ' | |||
Salishan-Mohegan Bank Credit Facility repayments- revolving loan | ' | 0 | ' | |||
Downs Lodging Credit Facility borrowings-term loan | ' | 0 | ' | |||
Principal portion of relinquishment liability payments | 0 | 0 | 0 | |||
Distributions to Mohegan Tribe | 0 | 0 | 0 | |||
Payments of financing fees | 0 | 0 | ' | |||
Payments on capital lease obligations | 0 | ' | ' | |||
Other cash flows provided by (used in) financing activities | 1,821 | 54,822 | 35,465 | |||
Net cash flows provided by (used in) financing activities | 1,821 | 54,822 | 35,465 | |||
Net increase (decrease) in cash and cash equivalents | 0 | 0 | 0 | |||
Cash and cash equivalents at beginning of year | 0 | 0 | 0 | |||
Cash and cash equivalents at end of year | $0 | $0 | $0 | |||
[1] | Includes the Pocono Downs Subsidiaries, MBC, Mohegan Golf, Mohegan Ventures-NW, MVW, WTG and MTGA Gaming. | |||||
[2] | Includes MGA and subsidiaries, Downs Lodging, Salishan-Mohegan, MG&H and Mohegan Resorts and subsidiaries. |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Mar. 06, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Oct. 31, 2009 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Nov. 19, 2013 | Dec. 19, 2013 | Nov. 19, 2013 |
Bank of America, N.A. Line of Credit | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | Subsequent Event | |
Credit Facility | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Term Loan A Facility | Term Loan A Facility | Term Loan A Facility | Term Loan A Facility | Term Loan A Facility | Term Loan A Facility | Term Loan A Facility | Term Loan B Facility | Term Loan B Facility | Term Loan B Facility | Term Loan B Facility | Term Loan B Facility | Term Loan B Facility | Term Loan B Facility | Bank of America, N.A. Line of Credit | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | 2009 11 1/2% Second Lien Senior Secured Notes, due November 2017 | ||
Senior Secured Notes | Revolving Credit Facility | Term Loan A Facility | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Senior Secured Notes | Revolving Credit Facility | Revolving Credit Facility | Credit Facility | Senior Secured Notes | Senior Secured Notes | |||||||
LIBOR | Minimum | Maximum | LIBOR | LIBOR | Federal Funds Rate | One-Month LIBOR | Minimum | Maximum | LIBOR | Base Rate | Minimum | Maximum | ||||||||||||||
Minimum | Maximum | |||||||||||||||||||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loan face amount | ' | ' | ' | ' | $200,000,000 | ' | $955,000,000 | $100,000,000 | ' | $125,000,000 | ' | ' | ' | ' | ' | ' | $730,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate, year one | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate, year two | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate, year three | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, floor rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Variable Rate, Measurement Period | ' | ' | ' | ' | ' | ' | ' | ' | '1 month | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis spread on variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 1.00% | ' | 3.50% | 4.50% | ' | ' | ' | ' | ' | ' | ' |
Variable rate, leverage-based margin | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | 3.50% | 3.50% | 4.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable rate, minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 2.00% | ' | ' | ' | ' | ' |
Fee assessed on unused revolving credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.38% | 0.50% | ' | ' | ' |
Borrowing capacity | 16,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,500,000 | ' | ' |
Debt extinguished | ' | 199,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 199,800,000 |
Refinancing costs | ' | ' | ' | ' | ' | 60,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized discount | ' | ' | 5,000 | 6,000 | ' | 12,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalized refinancing costs | ' | ' | ' | ' | ' | $15,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
SCHEDULE_II_Valuation_and_Qual
SCHEDULE II - Valuation and Qualifying Accounts and Reserves (Detail) (Allowance for Doubtful Accounts [Member], USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Allowance for Doubtful Accounts [Member] | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Balances at Beginning of Year | $30,998 | $30,737 | $29,588 | |||
Charges to Costs and Expenses | 3,436 | 3,189 | 3,128 | |||
Deductions from Reserves | 14 | [1] | 2,928 | [1] | 1,979 | [1] |
Balances at End of Year | $34,420 | $30,998 | $30,737 | |||
[1] | Deductions from reserves include write-off of uncollectible accounts, net of recoveries of accounts previously written-off. |