Mohegan to reduce debt/EBITDA by the end of year, analysts say

Moody’s Investors Service expects Mohegan to reduce debt to EBITDA this year.

South Korea.- Moody’s Investors Service has reported that Mohegan Tribal Gaming Authority, the company which controls casino operator Mohegan Gaming and Entertainment, will reduce its ratio of debt-to-earnings before interest, taxation, depreciation and amortisation (EBITDA).

According to Moody’s, the casino operator, which has recently applied for a six-month delay to the agreed June 2022 opening date for its Incheon IR project, still has “a high degree of financial risk”. 

Analysts stated: “This risk is compounded by our expectation that there will be continuous ongoing operational challenges and earnings and cash flow pressure from efforts to contain the coronavirus, and that there will be a slow recovery to pre-coronavirus volume.”

Mohegan is one of the companies that have entered the request-for-proposal process for Nagasaki’s integrated resort bid in Japan.

The group has partnered with the Hong Kong-listed Oshidori International Holdings Ltd to bid to become the city’s IR partner.