Mohegan Gaming & Entertainment, the company behind the Mohegan Sun in Connecticut and Inspire Korea in Incheon, recorded a fall in net income and revenues for the quarter ended March 31, 2019.
Income from operations fell 60.4 percent to $22.2 million, due to one time accelerated depreciation as a result of the closure of Casino of Wind, a now-shuttered casino in Uncasville.
Net revenues fell 7.3 percent to $307.7 million, while adjusted EBITDA fell 15.9 percent to $67.2 million, due to lower gaming revenues at Mohegan Sun and Mohegan Sun Pocono.
MGE said that the declines were partially offset by improved non-gaming revenue growth, including entertainment and hotel revenues at Mohegan Sun, as well as tighter expense management and improved financial performance at ilani Casino Resort.
Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.
ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264