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Mohegan Gaming Reports Q4 Fiscal 2019 Results

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5 years ago

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Mohegan Gaming Reports Q4 Fiscal 2019 ResultsReading Time: < 1 minute

 

Mohegan Gaming & Entertainment (MGE) has released the operating results for its fourth fiscal quarter ended September 30, 2019. During the three-month period, net revenues totalled US$414 m, a 19.2% rise from US$347.2 m in 2018.

Mohegan’s income from operations in Q4 was US$15.7 m, a 77.4% decline from the US$69.6 m that it had posted in 2018. This was primarily driven by an impairment charge at Mohegan Sun Pocono.

AEBITDA of US$89.4 m was a 5.4% decrease from the US$94.5 m in the prior year. Consolidated net revenues were up 19.2%, driven by the positive contribution of the Niagara resorts and continued outperformance from non-gaming revenue growth.

“MGE had a remarkable fiscal fourth quarter given the inclusion of two new competitors in our primary northeast market in the last 15 months, and we are off to a good start thus far in the first quarter of fiscal 2020 as well,” Mario Kontomerkos, President and CEO of Mohegan said.

“These strong results can be attributed to a commendable management effort by our property leadership as well as our first full quarter of operations from our Niagara resorts. Outside of North America, project Inspire in South Korea continues under construction and remains on track for a 2022 opening. In connection with Inspire, we are pleased to announce our partnership with Hanwha Corporation, one of the country’s largest conglomerates, who will serve as our primary general contractor and will also provide the project with important local operational expertise and credit enhancement. These domestic and international efforts, which also include the September announcement of our venture with Virgin Hotels in Las Vegas, have placed MGE on solid ground for success for generations to come,” Mario Kontomerkos added.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Mohegan Gaming Reports Q4 Fiscal 2019 Results

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George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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BE WARNED: SCAMMERS POSING AS PAGCOR OFFICIALS

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52 minutes ago

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February 25, 2025

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The Philippine Amusement and Gaming Corporation (PAGCOR) today warned the public about an alarming scam operation in which fraudsters are impersonating its top executives to deceive individuals and businesses.
The state gaming agency said several individuals and business owners have complained that they received fraudulent Viber messages that falsely claim to be from Chairman and CEO Alejandro H. Tengco and President and COO Wilma Eisma.
Scammers are using mobile numbers maliciously registered under the top executives’ names, specifically +63951-7359836 for Mr. Tengco and +63938-2857343 for Ms. Eisma to contact potential victims.
“We urge the public to exercise caution and avoid engaging with any unsolicited messages that appear to come from PAGCOR executives,” Mr. Tengco said.
“These fraudulent schemes pose a serious risk to the public; hence, we ask everyone to be vigilant and immediately report any suspicious messages to the authorities, especially those that promise financial windfalls,” the PAGCOR chief added.
Mr. Tengco advised individuals to verify any communication they receive through its official website and other legitimate communication platforms such as PAGCOR’s official trunkline numbers +632 8521-1542 / +632 8522-0299.
Earlier, Mr. Tengco also warned the public against a website that purports to issue gaming licenses and accreditations using fake forms and bogus content.

The post BE WARNED: SCAMMERS POSING AS PAGCOR OFFICIALS appeared first on European Gaming Industry News.

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MiFinity Brings Apple Pay to Simplify Payments and Enhance User Experience to its customers

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2 hours ago

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February 25, 2025

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MiFinity, a leading global payment services provider, today announced the integration of Apple Pay into its mobile app. This strategic enhancement simplifies transaction processes and provides customers with a seamless payment experience.
With Apple Pay supported on MiFinity, customers can enjoy even more user-friendly controls that facilitate and simplify day-to-day transactions. The main highlights are the convenience and speed of transactions, as depositing funds into the MiFinity eWallet can be done in just a few taps.
Privacy and security will always be fundamental values in financial services. By leveraging Apple Pay’s robust authentication methods (including Face ID, fingerprint, and passcode), MiFinity ensures payment card details remain private, enhancing security and privacy for users.
This new feature benefits consumers and merchants. Simplified and faster payment processes improve conversion rates and the overall user experience for MiFinity customers.
Paul Kavanagh, CEO of MiFinity, commented:
“This milestone reflects our ongoing commitment to listening to feedback from our partners and customers. By integrating Apple Pay, we can offer a tailored, forward-thinking solution. We also look forward to launching Google Pay soon, extending similar benefits to Android users.”

The post MiFinity Brings Apple Pay to Simplify Payments and Enhance User Experience to its customers appeared first on European Gaming Industry News.

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MightyTips nominated for the SiGMA Africa Awards 2025 as the Best Sportsbook Affiliate

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2 hours ago

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February 25, 2025

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MightyTips has been shortlisted for the SiGMA Africa Awards 2025 in the Best Sportsbook Affiliate category. The award ceremony will occur in Cape Town, South Africa, on March 10, 2025.

This award highlights and recognises affiliates who successfully drive traffic to online sportsbooks, provide additional insight for sports bettors, and create meaningful collaborations that help boost engagement for all parties.

MightyTips will compete for the Best Sportsbook Affiliate award against industry titans such as Flashscore and Sofascore, among other contenders. A total of 24 awards will be handed out throughout the evening.

MightyTips highlights

The nomination follows a year of growth for the online sports portal. MightyTips provides comprehensive bookmaker reviews and daily free football tips and predictions across various leagues and tournaments, including the English Premier League, Spanish La Liga, and UEFA Champions League, which are highly popular with African audiences. The platform generates consistent African traffic, with Ghana, Kenya, South Africa, Nigeria, and Uganda being the biggest sources.

In 2024, MightyTips expanded its portfolio of multilingual sites to 18 and launched the MightyQs interview series, which illuminates partnerships between sportsbooks and high-profile sports organisations and personas. The latest instalment explores MelBet’s role as the Juventus FC’s Official Regional Partner in Africa and the Middle East.

Another highlight of the year came in September 2024 as MightyTips ambassador, an undefeated pro boxer Jevgenijs “The Hurricane” Aleksejevs claimed the IBO European Middleweight Championship belt, helping to improve the brand’s visibility among sports fans.

Eugene Ravdin, Head of Communications and Marketing at MightyTips, said: “We are thrilled to be nominated for the Best Sportsbook Affiliate at the SiGMA Africa Awards. We are working hard to reach African bettors and are delighted to receive recognition. It is great to see our work and proactive approach rewarded. We cannot wait to represent MightyTips at the ceremony in Cape Town.”

The post MightyTips nominated for the SiGMA Africa Awards 2025 as the Best Sportsbook Affiliate appeared first on European Gaming Industry News.

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