Mohegan's revenue increased in the fourth quarter.

Mohegan's fourth-quarter fiscal report, ending on September 30, reveals a net revenue of $444.3m, a $31.3m increase from the previous year.

The growth is credited to the ongoing success of Mohegan Digital, partially offset by lower-than-expected table hold at Mohegan Sun. Adjusted EBITDA was $88m, a decrease of $11.7m from the prior year.

Despite this Mohegan CEO highlights the company second-highest adjusted EBITDA in its 27-year history for fiscal 2023.

 

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Mohegan's fourth-quarter fiscal report shows promising growth with a net revenue of $444.3 million, marking a $31.3 million increase compared to the previous year. This positive trend can be attributed to the ongoing success of Mohegan Digital, which has likely contributed significantly to the company's overall revenue growth.

However, the report mentions that the lower-than-expected table hold at Mohegan Sun has somewhat offset the gains made by Mohegan Digital. The table hold refers to the percentage of money kept by the casino from table games. It is worth noting that fluctuations in table hold can impact a casino's revenue. Despite this setback, Mohegan Sun has still managed to achieve substantial growth in net revenue.

The adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for this period was $88 million, a decline of $11.7 million compared to the previous year. Although a decrease in adjusted EBITDA is not ideal, it is essential to consider the overall context and other factors that might have influenced this figure.

Nonetheless, the Mohegan CEO remains positive, emphasizing that the company achieved its second-highest adjusted EBITDA in its 27-year history for fiscal 2023. This news reflects the CEO's confidence in Mohegan's overall performance and outlook for the future. It suggests that despite the challenges faced in the fourth quarter, the company has set a strong foundation for continued success.

It will be interesting to see how Mohegan continues to navigate the evolving gambling industry, especially in the digital realm, and how it leverages its achievements to drive further growth in the coming years.