Mohegan posts third quarter fiscal 2025 financial summaries
Mohegan, the owner, developer, and manager of premier entertainment resorts in the United States and Canada, has announced its third fiscal quarter ended June 30, 2025, results. Despite a slight decrease in revenue for its domestic resorts, the company's digital business, Mohegan Digital, saw significant growth.
Raymond Pineault, Mohegan's Chief Executive Officer, acknowledged the successfully executed refinancing strategy that helps keep the company on a growth trajectory. This strategic move further supports Mohegan's opportunities for long-term growth and the evolution of its Digital business provides greater strategic flexibility.
Mohegan Digital's revenue soared during the recent trading period, hitting $67.5m. The growth in Mohegan Digital's revenue was primarily driven by its Connecticut operations, which recorded significant growth thanks to high profits and increased player engagement.
In addition to the growth in digital revenue, Mohegan Sun, Connecticut's premium gaming, entertainment, and hospitality venue, unveiled four new culinary concepts in June.
However, the net revenues during the latest trading period halted at $436.9m, a decrease compared to the $444.1m result from the same period in 2024. This result points to a slight decrease of 1.6%. The decrease in domestic resorts revenue was primarily driven by higher revenues in the prior year related to one-time accelerated non-cash digital license fee revenue at Mohegan Pennsylvania and gaming revenues from Mohegan Casino Las Vegas.
Adjusted EBITDA also dipped during the third fiscal quarter of 2025, halting at $94.1m, down by 16.3% year-over-year. However, after normalizing the prior year period for the ilani and Mohegan Pennsylvania adjustments, Adjusted EBITDA would have been up $4.4m, or 4.9%.
Mohegan plans to seize growth opportunities by expanding its resort experience through further integration of new and existing businesses, enhancing customer engagement, and driving revenue growth via diversified entertainment and hospitality offerings. The company's strategy focuses on expanding casino operations, enhancing non-gaming amenities, capitalizing on new partnerships, and leveraging their brand presence to increase market share and profitability.
Raymond Pineault, in his statement, highlighted the importance of the company’s comprehensive refinancing strategy, which was completed, positioning Mohegan well to continue to grow. He emphasized that now that Mohegan has addressed its capital structure, the company is singularly focused on executing its plan and increasing value for all its stakeholders.
[1] Information sourced from Mohegan's third quarter fiscal 2025 results press release.
- The growth in Mohegan Digital's revenue, driven by its Connecticut operations, indicates a shift in Mohegan's business strategy towards technology-based finance, such as online gambling, for increased revenue and strategic flexibility.
- To capitalize on its success in digital business and maintain a growth trajectory, Mohegan plans to integrate technology and finance by expanding casino operations, enhancing non-gaming amenities, and leveraging new partnerships, thereby merging traditional business with modern technology.
