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www.poconodowns.com
Mohegan Sun at Pocono Downs is currently a harness racing facility located on 400 acres in Plains, Pennsylvania. The facility is one of only four thoroughbred and harness racing facilities in the state. It features a 5/8 mile all-weather, lighted track with seating for approximately 3,500 patrons and parking capacity for 6,500 vehicles. Harness racing has been conducted at Pocono Downs since 1965 and the track is scheduled to hold 143 live racing days between April and November of 2005.
Mohegan Sun at Pocono Downs has the right to acquire a Pennsylvania Category One Slot Machine License, which will initially permit the installation and operation of up to 3,000 slot machines. The Pennsylvania Gaming Control Board is in the process of developing final licensing regulations and is expected to begin issuing conditional Category One Slot Machine Licenses in early 2006.
On July 21, 2005, we announced plans for the development of a 400,000 square foot gaming and entertainment facility to be constructed on-site. The plans include approximately 2,000 slot machines, 3 full-service restaurants, a 300 seat buffet, a 15,000 square foot food court, several bars and lounges, an 18,000 square foot nightclub, a "Kid's Quest" center, 20,000 square feet of retail space, new parking facilities and an enhanced employee services area. Construction of the new facility will begin upon the issuance of a conditional Category One Slot Machine License. The new facility is expected to open approximately 14 months after the commencement of construction. Estimated cost of construction for the new facility is between $140 and $160 million. In addition to the development of the new gaming and entertainment facility, we plan to make significant improvements and additions to the existing Pocono Downs clubhouse and grandstand, including a new simulcast facility, improvements to the grandstand to include some 1,000 slot machines, and a new 10,000 square foot food court. These clubhouse and grandstand improvements are estimated to cost up to $47 million with construction scheduled to begin in the fall of 2005.
In connection with our acquisition of Pocono Downs, MTGA owns and operates five Pennsylvania OTW's located in Carbondale, East Stroudsburg, Erie, Hazleton and Lehigh Valley (Allentown). The Lehigh Valley OTW is a 28,000 square-foot facility and is the largest OTW in the state of Pennsylvania.
For more information on Mohegan Sun at Pocono Downs please visit their website: www.poconodowns.com
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