Mohegan Sun generated $215.5 million in net revenue and $44.2 million in profit in the second quarter of its fiscal year, which ended March 31, Mohegan Gaming & Entertainment, the casino’s corporate parent, reported Thursday.
Net revenue was up 14% over the same period last year while profit, or net income, was down 15.3%.
MGE, which also operates casinos in Pennsylvania, Washington, Nevada and New Jersey, posted overall net revenues of $358.5 million in the quarter, a year-over-year increase of 28.7%, and adjusted EBITDA – a metric based on net income before interest, income taxes, depreciation and amortization – of $86.7 million, an increase of 7.4%.
The adjusted EBITDA “reflects our strong performance and focus on profitability,” Ray Pineault, MGE’s president and chief executive officer, told investors and industry analysts during a conference call.
