Summary
- Mohegan has unveiled its financial results for the third quarter of the 2025 fiscal year.
- The company saw a robust surge in revenue from its digital operations, which successfully counterbalanced a minor dip in earnings from domestic resorts.
- Raymond Pineault, Mohegan's CEO, proudly recognizes the expertly crafted refinancing strategy that propels the company forward on its path of growth.
Mohegan, the esteemed owner, developer, and manager of top-tier entertainment resorts across the United States and Canada, has just unveiled its latest operating results. Earlier this week, the Mohegan Tribal Gaming Authority shared insightful details about the company's performance for the third fiscal quarter, ending on June 30, 2025.
Despite challenges, Mohegan posts strong quarter figures
In the latest trading period, net revenues landed at $436.9 million, reflecting a modest drop of 1.6% compared to the $444.1 million from the same time in 2024. Adjusted EBITDA also faced a downturn, hitting $94.1 million during the third fiscal quarter of 2025, marking a significant 16.3% decline year-over-year. However, a closer look from Mohegan reveals a more varied picture: while domestic resort revenues saw a slight year-over-year decrease, Mohegan Digital experienced impressive growth in the third fiscal quarter of 2025. As expected, Mohegan's domestic resorts claimed the largest portion of revenue, totaling $297.3 million. Yet, this figure couldn't quite match the $310.7 million from the same period in 2024, reflecting a decline of 4.3%. On a brighter note, Mohegan Digital's revenue soared to $67.5 million, a remarkable rise compared to the $41.9 million from the same quarter in 2024, demonstrating an impressive 61.2% increase. In their press release, Mohegan explained the $13.4 million drop in domestic resort revenue was due to last year's exceptional one-time digital license fee revenue at Mohegan Pennsylvania and gaming revenue from Mohegan Casino Las Vegas. Mohegan highlighted that the surge in digital revenue stemmed primarily from their thriving Connecticut operations, which saw substantial growth driven by high profits and increased player engagement. Adding to their momentum, June brought exciting developments as Mohegan Sun in Connecticut introduced four innovative culinary concepts, enhancing their premium gaming and hospitality offerings.
Mohegan plans to seize growth opportunities
Ari Glazer, Mohegan's Chief Financial Officer, shared that while net revenues and Adjusted EBITDA did decline from the previous year, this comparison is somewhat skewed. Last year's results were boosted by management fees from Ilani and a one-time digital license fee at Mohegan Pennsylvania. He elaborated, noting that Adjusted EBITDA dropped by $18.3 million, or 16.3%. However, after accounting for those unique factors from the last period, it becomes clear that Adjusted EBITDA would have actually increased by $4.4 million, or 4.9%. Raymond Pineault, Mohegan's CEO, emphasized the significance of the company's successful refinancing strategy, which has now been completed. This strategic achievement positions Mohegan in a strong place to pursue growth. Pineault expressed that this milestone enhances our prospects for sustained growth and strengthens our Digital business's strategic flexibility. In conclusion, Pineault confidently stated, With our capital structure solidified, our focus is now fully on executing our strategic plans and boosting value for all our stakeholders.
