Good Morning. The good times continue for Mohegan, with the gaming group reporting an adjusted EBITDA of $399.9 million in 2023, the ‘second highest in its 27-year history’, just lower than its 2022 results. The company’s management is optimistic its new Mohegan INSPIRE property in Incheon, South Korea, will help drive stronger results and become cash flow positive by the end of 2024. In Australia, the Gaming Technologies Association has announced four of its members will carry out the country’s first cashless gaming trial in New South Wales next year. Meanwhile, in Macau, regulators continue to pile more misery on an already beleaguered junket sector, with authorities now aiming to bar junket operators from providing credit to gamblers.
What you need to know
- Mohegan ends 2023 with almost $400 mln in EBITDA, company confident its new South Korea property to be cash flow positive by the end of 2024.
- Aristocrat, eBet, IGT, and L&W granted conditional approval to lead cashless gaming trial in 2024; nearly 4,500 ETGs debuting across NSW.
- Macau SAR government proposes completely barring junket operators from loaning money for gaming purposes.
On the radar
- Wagering companies breach in-play betting rules: ACMA.
- Universal Entertainment: Emerald Bay is “next step”: Okada Manila executive.
- 180 Chinese workers employed in POGO repatriated.
- Cambodia launching e-arrival card to boost tourism starting January 1st.
AGB Intelligence
FINANCIAL RESULTS
Mohegan finishes 2023 with almost $400 mln in EBITDA
Mohegan ended 2023 with almost $400 million Adjusted EBITDA, the ‘second highest in its 27-year history’ according to Chief Executive Officer, Raymond Pineault. In its earnings call, the gaming group management displayed how optimistic it is that its new Mohegan INSPIRE property in Incheon, South Korea will help drive stronger results and become cash flow positive by the end of 2024.
Corporate Spotlight
1xBet in 2023 – A Year of Unprecedented Growth and Recognition
For the leading bookmaker, 1xBet, 2023 was a fruitful year for bonuses and awards. A professional approach to work, innovative solutions and product quality were highly appreciated by clients, partners and gambling industry experts.
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