Mohegan Gaming reports fiscal Q4 results
The company reported a 27.2% year-on-year revenue decrease during the last quarter of the fiscal year.
US.- Mohegan Gaming has released the financial results corresponding to the fiscal fourth quarter, ended September 30. The company reported that net income fell 27.2% year-on-year to US$37.7 million.
“Consolidated net revenues declined modestly during the quarter, primarily driven by a softer July gaming performance, a challenging year-over-year comparison in gaming revenues at Mohegan Sun in September of 2017, and continued increases in promotional activity in the Mohegan Sun Pocono gaming market,” said the company.
Moreover, the operator said that these factors, as well as increases in slot taxes assessed by the Commonwealth of Pennsylvania, contributed to the year-over-year decline in adjusted EBITDA.
Mohegan Gaming also announced a strategic partnership with Paramount Pictures for the casino resort Mohegan Gaming is building next to the Incheon International Airport, in South Korea. Mohegan Gaming will add a Paramount-branded theme park at the casino resort.
