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 5^th, becoming a new revenue stream for the the US-based company.

https://agbrief.com/news/south-korea/06/03/2024/mohegan-project-to-help-korean-island-become-singapore-and-macau-competitor-officials

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.

Bricks & Mortar Digital Results EBITDA Income Incheon

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