Mohegan Q4 net revenue soars to new highs in FY23

Mohegan Gaming and Entertainment achieved a 7.5% increase in Q4 net revenue, reaching a record annual consolidated net revenue of $1.67 billion in 2023. Despite a $4.7 million interest impact, the company generated the secondhighest adjusted EBITDA in its history at $399.9 million for the year.

Mohegan CEO Raymond Pineault, anticipates growth in the gaming segment and believes diversification, including the recent opening of Mohegan INSPIRE, will contribute to strong results.

 

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It's impressive to see that Mohegan Gaming and Entertainment experienced a 7.5% increase in net revenue in the fourth quarter of 2023. Achieving a record annual consolidated net revenue of $1.67 billion is certainly a significant milestone for the company.

Despite the $4.7 million interest impact, Mohegan also generated the second-highest adjusted EBITDA in its history at $399.9 million for the year. This is a testament to the company's ability to effectively manage its financial operations and maximize profitability.

Mohegan CEO Raymond Pineault's optimistic outlook for the gaming segment is encouraging. The anticipation of growth in this sector suggests that Mohegan Gaming and Entertainment is well-positioned to continue its successful trajectory. Additionally, diversification efforts, such as the recent opening of Mohegan INSPIRE, are expected to contribute to strong future results.

Overall, Mohegan's consistent revenue growth, strong financial performance, and strategic investments demonstrate the company's commitment to long-term success in the gaming industry.