Mohegan sees Q4 revenue increase 19%
Mohegan Gaming & Entertainment (MGE) generated net revenue of $414m in its Q4, ending on 30 September, a rise of 19% year-on-year.
However, income from operations fell 77% to $15.7m.
Adjusted EBITDA fell to $89.4m for the quarter, a decline of 5%.
Mohegan President and CEO Mario Kontomerkos said: “MGE had a remarkable fiscal fourth quarter given the inclusion of two new competitors in our primary northeast market in the last 15 months, and we are off to a good start thus far in the first quarter of fiscal 2020 as well.”
The Wynn-owned Encore Boston Harbor opened this summer a couple hours away from
Mohegan Sun in Uncasville, Connecticut.
Mohegan Sun saw declines in net revenue (9.2%), income from operations (20.8%) and adjusted EBITDA (13.8%).
The casino’s quarterly total operating expenses were down to $185.4m, a drop of 6.9%.
Table game revenues at Mohegan Sun fell to $40.7, down 21%.
Mohegan Sun Pocono’s adjusted EBITDA declined 19% to $11.8m.
The casino launched its Unibet sportsbook in the final days Q4.
The sportsbook brought in more than $300,000 in revenue in October.
MGE assumed control of Casino Niagara and Fallsview Casino Resort in June.
The casinos brought in $91.3m of net revenue, $4.8m of income from operations and $10.2m of adjusted EBITDA in Q4.
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