Wednesday, June 26, 2024
HomeNewsUnited StatesMohegan hits historic quarterly $461.73M net revenue high

Mohegan hits historic quarterly $461.73M net revenue high

Mohegan, the US-based operator also behind the Incheon Mohegan INSPIRE integrated resort, has announced its highest quarterly net revenue in its history, hitting $461.73 million, up by 13.8 percent yearly.

The group officially opened its South Korean resort on March 5th, becoming a new revenue stream for the the US-based company.

According to the company’s results, its international segment brought in some $108.07 million in net revenue, while recording a loss of $39.49 million, while adjusted EBITDA was negative $16.58 million.

The group notes the negative EBITDA was ‘primarily due to operating costs related to the opening of Mohegan INSPIRE and a $5 million non-controlling interest adjustment related to Niagara Resorts’.

The group’s Digital segment also contributed strongly, with revenues rising by nearly 71 percent, to $38.77 million. Net income from the segment rose just 11.6 percent, however, to $20.25 million, with EBITDA rising by the same amount, to $20.23 million.

Gaming revenue for the company overall topped $305.4 million, up by nearly 7 percent yearly.

AGBrief Editorial
AGBrief Editorialhttps://agbrief.com/about-asia-gaming-brief/
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

MORE ARTICLES

FOLLOW US

daily newsletter