Mohegan - The Mohegan Tribal Gaming Authority this morning released quarterly financial results its chief executive officer characterized as “quite rewarding.”
Adjusted earnings before interest, income taxes, depreciation and amortization, the authority’s preferred indicator of performance, totaled $85.1 million for the quarter, a 16.7 percent increase over the same three-month period a year earlier.
“Our results for the third quarter were quite rewarding,” Mitchell Etess said in a statement. “The growth in Adjusted EBITDA and margins at both Mohegan Sun and Mohegan Sun at Pocono Downs demonstrates the commitment of our entire team towards pursuing operational efficiencies while providing the ultimate guest experience. We are also extremely optimistic with the stabilization, and, in some cases, increases in revenues.”
Gaming revenue of $304.6 million was down 0.8% for the quarter, while nongaming revenues of $65.1 million were up 3.6 percent.
The authority is discussing the results with investors and gaming industry analysts in a conference call.