U.S. tribal casino operator Mohegan Gaming and Entertainment has seen its U.S.-based properties continue to recover as the rate of vaccinations increases and states continue to ease some COVID-related restrictions.
However, while revenues were below 2019 levels at its flagship property Mohegan Sun, it registered a slight increase in 2020 during the pandemic.
Group wide net revenues decreased 11.5 percent, reaching $278.6 million, whilst adjusted EBITDA increased 57.3 percent to $80.7 million.
The company said its last quarter marked an important milestone for MGE, with its INSPIRE project in Incheon, South Korea receiving an important approval from South Korea’s Ministry of Culture, Sports and Tourism, clearing the path to obtain financing for the project.
It also opened Mohegan Sun Casino at Virgin Hotels Las Vegas, the company’s latest expansion and entry into the Las Vegas market.