Mohegan announces change to SEC filing status
Mohegan ― Mohegan Sun’s corporate parent ― Mohegan, or the Mohegan Tribal Gaming Authority ― announced this week it will no longer file financial reports with the U.S. Securities and Exchange Commission, though it will post the information on its website and continue to discuss its operating results in quarterly conference calls with investors.
Carol Anderson, Mohegan’s chief financial officer, wrote in an email Tuesday that the company had entered into a 2016 agreement with bondholders that required Mohegan to maintain “voluntary filer” status.
“Since that time,” she wrote, “many indentures have moved away from requiring voluntary filer status so long as pertinent information is made available to the bondholders, and our newer documents do not have the voluntary filer requirement. ... (T)hat 2016 indenture provision no longer exists...”
“Accordingly, we evaluated the pros and cons of continuing to file with the SEC,” Anderson wrote. “We believe there are increased administrative efficiencies, among other things, by no longer voluntarily filing. However, because it is important that we maintain transparency with our investors and other key stakeholders, we still plan to make similar financial and other information readily accessible on our company website under similar time frames that we used for our SEC filings.”
The information will be posted at www.mohegangaming.com/, under the “Investor Relations/Financial Updates” section.
In its announcement, posted on the SEC’s EDGAR (Electronic Data Gathering, Analysis, and Retrieval system) website, Mohegan also indicated it plans to continue hosting quarterly conference calls with investors.
Companies that file annual and quarterly reports with the SEC also report such “material” events as the entering into or terminating of agreements; the acquisition or disposition of assets; the election of directors; the appointments or departures of directors and principal officers; and amendments to charters and bylaws, according to the SEC’s website.