Mohegan Tribal Gaming Authority has announced operating results for its third fiscal quarter ended June 30, achieving its highest quarterly net revenues in its history, up 21.4 per cent year over year.
"As I look across our enterprise, I feel confident about how our strategy is taking shape and I'm excited about our near and long-term prospects," said CEO Raymond Pineault.
"The combination of profitable growth in digital, the ramp at Inspire since the grand opening in March, combined with the stability and resilience of our flagship, Mohegan Sun in Connecticut, highlights some of the important drivers for our growth in the present and future."
"Net revenues of $504.2m increased $88.8m compared with the prior-year period, primarily due to continued growth in Mohegan Digital and revenue from Mohegan Inspire," said Ari Glazer, chief financial officer.
"Consolidated Adjusted EBITDA of $104.7m decreased $3.9m compared with the prior-year period, primarily due to operating costs related to the opening of Mohegan Inspire and non-controlling interest adjustments at Niagara Resorts, offset by strong growth in our digital operations.
"Excluding the adjustment of non-controlling interest at Niagara Resorts, Adjusted EBITDA would have been $108.3m or flat to prior year."
