Mohegan reports record quarterly net revenue of $461.7m
Mohegan Tribal Gaming Authority reported net revenue of $461.7 million for the fiscal second quarter ended 31 March 2024, its highest quarterly total, up 13.8% year on year. Adjusted EBITDA fell by $18.2 million to $84 million, which the company attributed primarily to costs from opening Mohegan INSPIRE and non-controlling interest adjustments at Niagara Resorts.
Record net revenue alongside lower adjusted EBITDA shows investors both Mohegan’s top-line strength and costs tied to its new resort.