Mohegan Gaming & Entertainment posts net revenue of US$504.16m for Q2

The company attributed the rise in revenue to the continued growth of its South Korean casino resort, Mohegan Inspire.

South Korea.- Mohegan Gaming & Entertainment (MGE) has shared its financial results for the second quarter of the year. It posted net revenue of US$504.16m, up 9.2 per cent quarter-on-quarter and 21.4 per cent when compared to last year.

The company attributed the rise to the continued growth of Mohegan Digital and Mohegan Inspire, its South Korean casino resort, which posted net revenue of US$60.1m. The venue recorded negative adjusted EBITDA of US$7.6m. The net slot win was US$2,513 and the net table win US$35,270. Hotel occupancy amounted to 70.8 per cent in the second quarter.

Ray Pineault, president and CEO of Mohegan, said: “As I look across our enterprise, I feel confident about how our strategy is taking shape and I’m excited about our near and long-term prospects. The combination of profitable growth in Digital, the ramp at INSPIRE since the grand opening in March, combined with the stability and resilience of our flagship, Mohegan Sun in Connecticut, highlights some of the important drivers for our growth in the present and future.”