Mohegan Sees Second Highest Quarterly Net Revenue in Company History
Mohegan Tribal Gaming Authority reports its second highest quarterly net revenue gain in the company's long history, a 12 percent year-over-year boost.
Mohegan Digital net revenue was up $60.1 million year over year.
The gambling firm has spread its wings since the days of being known primarily for its Connecticut properties and a reason for those of us in New Jersey to actually travel to that state.
The Mohegan INSPIRE Entertainment Resort in South Korea, which opened in March 2024, generated net revenue of $62.2 million.
Top Resort Owner in Costa Rica Now Online
Connecticut Roots
From Wikipedia:
It is in the foothills of southeastern Connecticut, where 60 percent of the state's tourism is concentrated. It features the 12,000-seat capacity Mohegan Sun Arena, home of the Women's National Basketball Association's Connecticut Sun. It houses a 350-seat Cabaret Theatre, the 300-seat Wolf Den, and 100,000 sq ft (9,300 m2) of meeting and function room space, including the Northeast’s largest ballroom[3] and 130,000 sq ft (12,000 m2) of retail shopping. It is also where the studio of WMOS is located.
The casino contains slot machines, gaming tables including poker, blackjack, craps, roulette, Caribbean stud poker, keno and baccarat. The race book offers live horse or greyhound racing from around the U.S. as well as from Australia and England. It also offers wagering on jai-alai from Florida.
Solid Online Presence
Longtime friend of Gambling911.com, Will Griffiths of Level Media, spoke glowingly of Mohegan Digital and company president Rich Roberts via his LinkedIn Page.
"Proud to have worked for the last three year sof Rich Roberts from pre launch of Mohegan digital. We have built such a talented team and so satisfying to experience building such a huge unique profitable growth story with an incredible year ahead - what a team effort."
The Mohegan Sun recently took over the Unibet sportsbook in Allentown, Pennsylvania, which means regular 3 am texts from our own Thomas Somach, who is based there, showing his wins at least once a week, although something tells us he doesn't text us his losing tickets.
Somach reports no online sports betting app available from Mohegan Sun yet.
A Great Future Ahead
Mohegan’s U.S. properties include resorts in Connecticut, Pennsylvania, Nevada, New Jersey, and Washington. Mohegan also operates Fallsview Casino Resort and Casino Niagara in Niagara Falls.
“It’s been 30 years since the Mohegan Tribe was granted federal recognition in 1994, and in that time since we opened the Mohegan Sun here in Connecticut, we have transformed Mohegan from a regional, single casino, into one of the premier global integrated omni-channel resort operators,” said Raymond Pineault, Chief Executive Officer of Mohegan. “This year marks the culmination of a number of important initiatives which enables us to build on these accomplishments and remain focused on executing our strategy.”
Net revenues in Q4 increased $54.3 million year over year to $497.7 million, primarily due to the continued growth of Mohegan Digital and revenue from INSPIRE. Consolidated Adjusted EBITDA of $81.3 million for Q4 decreased $6.8 million compared with the prior-year period.
|
|
