Gambling in the USA
Mohegan Gaming Reports Q4 Fiscal 2019 Results

Mohegan Gaming & Entertainment (MGE) has released the operating results for its fourth fiscal quarter ended September 30, 2019. During the three-month period, net revenues totalled US$414 m, a 19.2% rise from US$347.2 m in 2018.
Mohegan’s income from operations in Q4 was US$15.7 m, a 77.4% decline from the US$69.6 m that it had posted in 2018. This was primarily driven by an impairment charge at Mohegan Sun Pocono.
AEBITDA of US$89.4 m was a 5.4% decrease from the US$94.5 m in the prior year. Consolidated net revenues were up 19.2%, driven by the positive contribution of the Niagara resorts and continued outperformance from non-gaming revenue growth.
“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,” Mario Kontomerkos, President and CEO of Mohegan said.
“These strong results can be attributed to a commendable management effort by our property leadership as well as our first full quarter of operations from our Niagara resorts. Outside of North America, project Inspire in South Korea continues under construction and remains on track for a 2022 opening. In connection with Inspire, we are pleased to announce our partnership with Hanwha Corporation, one of the country’s largest conglomerates, who will serve as our primary general contractor and will also provide the project with important local operational expertise and credit enhancement. These domestic and international efforts, which also include the September announcement of our venture with Virgin Hotels in Las Vegas, have placed MGE on solid ground for success for generations to come,” Mario Kontomerkos added.
-
Asia5 days ago
Jetapult Strengthens AI Expertise: Onboards Industry Leaders, Oz Silahtar and Dr. Arjun Jain
-
Latest News6 days ago
Roobet Promo Code: Redeem “WRD100” Now to Get a Free Money & Cashback
-
Latest News6 days ago
Regulatory Roadblocks: The Future of Sweepstakes Gaming in the U.S.
-
Africa6 days ago
Gaming Corps Expands African Presence with KingMakers Partnership
-
Latest News6 days ago
Recently Released Slot Games Worth Checking Out
-
Latest News6 days ago
UK Gambling Commission Flags Deepfake-Fueled Money Laundering Threats in Online Gambling Sector
-
Latest News6 days ago
ULTIM8 SPORTSBOOK IFRAME: Ultimate Solution for Operators Who Have Seen It All
-
Latest News6 days ago
PG Soft debuts Doomsday Rampage slot