The owner, developer and manager of premier entertainment resorts in the United States and Canada, Mohegan, released its most recent operating results.
Earlier this week, the Mohegan Tribal Gaming Authority revealed details regarding the company's performance during the third fiscal quarter ended June 30, 2025.
Despite challenges, Mohegan posts strong quarter figures
Based on the recent report, net revenues during the latest trading period halted at $436.9m.
This result points to a slight decrease of 1.6% when compared to the same period in 2024, when net revenues hit $444.1m.
Adjusted EBITDA also dipped during the third fiscal quarter of 2025, halting at $94.1m, down by 16.3% year-over-year.
A breakdown provided by Mohegan reveals that the revenue reported by domestic resorts during the latest trading period decreased slightly year-over-year, but on the bright side, Mohegan Digital posted significant growth during the third fiscal quarter 2025.
It's no surprise that Mohegan's domestic resorts were responsible for the lion's share of the revenue, or $297.3m. Still, that figure couldn't surpass the $310.7m result from the same period in 2024, thus, a decrease of 4.3% was recorded.
As noted, Mohegan Digital's revenue soared during the recent trading period, hitting $67.5m.
This result, compared to the $41.9m result from the corresponding quarter in 2024, shows a significant increase of 61.2%.
In a press release, Mohegan attributed the $13.4m decrease in domestic resorts revenue to "higher revenues in the prior year related to one-time accelerated non-cash digital license fee revenue at Mohegan Pennsylvania and gaming revenues from Mohegan Casino Las Vegas."
Focusing on the increase in Mohegan Digital revenue, the company said it was primarily driven by its Connecticut operations, which recorded significant growth thanks to high profits and increased player engagement.
In June, Mohegan Sun, Connecticut's premium gaming, entertainment and hospitality venue, unveiled four new culinary concepts.
Mohegan plans to seize growth opportunities
Ari Glazer, Mohegan's Chief Financial Officer, commented: "Net revenues and Adjusted EBITDA declined compared with the prior-year period, as the prior year benefited from ilani management fees and one-time accelerated non-cash digital license fee revenue at Mohegan Pennsylvania."
Moreover, the executive pointed out: "Adjusted EBITDA was down $18.3m or 16.3% compared with the prior year, however, after normalizing the prior year period for the ilani and Mohegan Pennsylvania adjustments, Adjusted EBITDA would have been up $4.4m, or 4.9%."
Raymond Pineault, Mohegan's Chief Executive Officer, highlighted the importance of the company's comprehensive refinancing strategy, which was completed.
Thanks to this strategic move, Mohegan is positioned well to continue to grow, the executive added.
"This important milestone further supports our opportunities for long-term growth and the evolution of our Digital business provides greater strategic flexibility," Pineault said.
In conclusion, Mohegan's CEO pointed out: "Now that we've addressed our capital structure, we're singularly focused on executing our plan and increasing value for all our stakeholders."
