In the April-June 2019 period, revenues edged up only slightly for Mohegan Gaming & Entertainment, rising 0.8% year-on-year to US$347.6 million, according to a report from the company.
Mohegan, now seeking an IR license in Japan, is a developer and operator of IRs, including Mohegan Sun in Uncasville, Connecticut, Inspire in Incheon, South Korea, and Fallsview Casino Resort in Niagara Falls, Ontario.
While total net revenue rose slightly in the quarter, the same could not be said for its flagship Mohegan Sun property, which posted a 7.2% decline in revenue, driven by increased regional competition from major Las Vegas-based operators.
The company was able to realize revenues from 20 days of operations at its newly-acquired Niagara Bundle.
“The June quarter was an important one in the evolution of Mohegan, as we closed on the acquisition of the Niagara casino bundle on June 11, including the impressive Fallsview Casino Resort, representing Mohegan’s latest international expansion and further earnings diversification,” said Chief Executive Officer Mario Kontomerkos. (AGB)