Latest News
Mohegan Gaming & Entertainment Announces Second Quarter Fiscal 2019 Operating Results
Reading Time: 5 minutes
Mohegan Gaming & Entertainment , a master developer and operator of premier global integrated entertainment resorts, including Mohegan Sun in Uncasville, Connecticut and Inspire Korea in Incheon, South Korea, announced today operating results for its second fiscal quarter ended March 31, 2019.
“Volume trends across our portfolio remain inline to better than expected as overall gaming volumes at our flagship property, Mohegan Sun, remain robust despite completing our second full quarter of increased competitive pressure in the Northeast,” said Mario Kontomerkos, President & Chief Executive Officer. “Adjusting for unusually low table hold, overall MGE EBITDA would have been largely in line with our expectations, flat with last year’s comparable period, and well ahead of recent fiscal year 1Q19 performance. At the same time, non-gaming results continue to be healthy and remain a driving factor for our growth at Mohegan Sun. These revenue enhancements have been driven, in part, by the recent adoption of our $100 million revenue and cost improvement program – a plan we remain committed to delivering over the next several years. Outside of the Northeast, cash flows from our managed portfolio grew strongly, up 86% year over year. Looking ahead, in June we expect to assume operational control of two major Niagara Falls, Canada assets which will mark the first international operations for MGE and will provide increased earnings and cash flow diversity for our stakeholders. Similarly, we have begun to mobilize construction at our development site in Incheon, South Korea, having completed our negotiations with our general contractor and following the receipt of all necessary construction permits and approvals.”
Selected consolidated operating results for the second quarter ended March 31, 2019, and prior year period (unaudited):
- Net revenues of $307.7 million vs. $332.0 million in the prior year period, a 7.3% decrease; and
- Income from operations of $22.2 million vs. $56.1 million in the prior year period, a 60.4% decrease primary driven by one time accelerated depreciation due to the closure of Casino of Wind; and
- Adjusted EBITDA of $67.2 million vs. $79.9 million in the prior year period, a 15.9% decrease.
Consolidated net revenues and Adjusted EBITDA declined during the quarter, driven by lower gaming revenues at Mohegan Sun and Mohegan Sun Pocono largely driven by unfavorable hold in the quarter at both properties. These declines were partially offset by improved non-gaming revenue growth, including entertainment and hotel revenues, at Mohegan Sun, as well as stronger Corporate Adjusted EBITDA, driven by tighter expense management and improved financial performance at ilani Casino Resort.
On October 1, 2018, the Company adopted Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606), on a modified retrospective basis. As such, results for the three months and six months ended March 31, 2019 in this release are presented under this new guidance, while results for the three months and six months ended March 31, 2018 remain presented under prior guidance. For comparative results for all periods as reported under the new guidance, please see our supplemental earnings deck, available on our website (https://mohegangaming.com/financial-information/).
Mohegan Sun |
|||||||
Operating results (in thousands, unaudited): |
|||||||
For the Three Months Ended |
|||||||
March 31, |
March 31, |
Percentage |
|||||
2019 |
2018 |
Variance |
Variance |
||||
Net revenues |
$ 238,391 |
$ 260,354 |
$ (21,963) |
(8.4%) |
|||
Income from operations (1) |
$ 19,913 |
$ 57,779 |
$ (37,866) |
(65.5%) |
|||
Adjusted EBITDA |
$ 59,341 |
$ 77,746 |
$ (18,405) |
(23.7%) |
|||
(1) Includes $21.6 million in accelerated depreciation related to Casino of the Wind. |
Net revenues and Adjusted EBITDA declined during the quarter, driven by lower overall gaming revenues and unfavorable table hold during the period, which was partially offset by stronger non-gaming results. Slot and table volumes declined 8.7% and 3.2%, respectively, in line with internal expectations. Had table hold percentage fallen into the historically normal range, net Revenues and Adjusted EBITDA would have declined less than 3.1% and 7.4%, respectively, on a 606 to 606 basis. Non-gaming revenues increased during the quarter, driven by improvement in nearly all segments of the business. The higher than normal decline in income from operations relates to the one-time accelerated depreciation expense of $21.6 million, caused by the closure of the Casino of the Wind in March, as that space will be designed and repurposed for higher and better use.
Mohegan Sun Pocono |
|||||||
Operating results (in thousands, unaudited): |
|||||||
For the Three Months Ended |
|||||||
March 31, |
March 31, |
Percentage |
|||||
2019 |
2018 |
Variance |
Variance |
||||
Net revenues |
$ 61,241 |
$ 67,130 |
$ (5,889) |
(8.8%) |
|||
Income from operations |
$ 8,214 |
$ 8,872 |
$ (658) |
(7.4%) |
|||
Adjusted EBITDA |
$ 11,592 |
$ 12,230 |
$ (638) |
(5.2%) |
Net revenues declined during the quarter driven by lower gaming revenues, largely reflecting the adverse impact from lower table hold. However, the year-over-year decline in Adjusted EBITDA was more muted due to a strong focus expense management, including lower payroll costs and certain casino marketing and promotional expenses. Notably, local marketing activity has started to return to more normalized levels following aggressive promotional activity from a regional competitor over the last several quarters.
Corporate |
|||||||
Operating results (in thousands, unaudited): |
|||||||
For the Three Months Ended |
|||||||
March 31, |
March 31, |
Percentage |
|||||
2019 |
2018 |
Variance |
Variance |
||||
Net revenues |
$ 8,125 |
$ 4,593 |
$ 3,532 |
76.9% |
|||
Loss from operations |
$ (5,901) |
$ (10,579) |
$ 4,678 |
44.2% |
|||
Adjusted EBITDA |
$ (3,716) |
$ (10,122) |
$ 6,406 |
63.3% |
The increase in net revenues and Adjusted EBITDA was primarily due to higher management fees from ilani Casino Resort driven by continued improvement in performance at the property.
MGE Property Information |
|||||||||||||
Net Revenues |
Income (Loss) from Operations |
Adjusted EBITDA |
|||||||||||
(in thousands, unaudited) |
For the Three Months Ended |
For the Three Months Ended |
For the Three Months Ended |
||||||||||
March 31, |
March 31, |
March 31, |
March 31, |
March 31, |
March 31, |
||||||||
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
||||||||
Mohegan Sun |
$ 238,391 |
$ 260,354 |
$ 19,913 |
$ 57,779 |
$ 59,341 |
$ 77,746 |
|||||||
Mohegan Sun Pocono |
61,241 |
67,130 |
8,214 |
8,872 |
11,592 |
12,230 |
|||||||
Corporate |
8,125 |
4,593 |
(5,901) |
(10,579) |
(3,716) |
(10,122) |
|||||||
Inter-segment revenues |
(60) |
(60) |
– |
– |
– |
– |
|||||||
Total |
$ 307,697 |
$ 332,017 |
$ 22,226 |
$ 56,072 |
$ 67,217 |
$ 79,854 |
Other Information
Liquidity
As of March 31, 2019, MGE held cash and cash equivalents of $91.4 million, compared to $103.9 million as of September 30, 2018. As of March 31, 2019, $55.0 million was drawn on MGE’s $250.0 million revolving credit facility, while no amounts were drawn on MGE’s $25.0 million line of credit. As of March 31, 2019, letters of credit issued under the revolving credit facility totaled $2.3 million, of which no amounts were drawn. Inclusive of letters of credit, which reduce borrowing availability under the revolving credit facility, MGE had approximately $192.7 million of borrowing capacity under its revolving credit facility and line of credit as of March 31, 2019.
About Mohegan Gaming & Entertainment:
Mohegan Gaming & Entertainment is a master developer and operator of premier global integrated entertainment resorts, including Mohegan Sun in Uncasville, Connecticut, and Inspire in Incheon, South Korea. The Company is owner, developer, and/or manager of integrated entertainment resorts throughout the United States, including Connecticut, New Jersey, Washington, Pennsylvania, Louisiana, Northern Asia, and, beginning in mid-2019, Niagara Falls, Canada. MGE owns and operates Connecticut Sun, a professional basketball team in the Women’s National Basketball Association, and the New England Black Wolves, a professional lacrosse team in the National Lacrosse League. For more information on MGE and our properties, visit www.mohegangaming.com.
SOURCE Mohegan Gaming & Entertainment
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 & Entertainment Announces Second Quarter Fiscal 2019 Operating Results

Latest News
S8UL Launches 12-City Esports World Cup Watch Party Tour and Exclusive Creator Experience in Mumbai
In a landmark moment for Indian esports, S8UL Esports, the country’s most celebrated gaming and content organization, has rolled out a nationwide fan and creator engagement campaign for the Esports World Cup (EWC) 2025. The dual initiative includes a 12-city Watch Party Tour across India and a parallel invite-only creator experience at the S8UL Gaming House 2.0 in Mumbai, both designed to bring the EWC excitement closer to home while uniting fans and creators around Team India’s journey on the world stage.
S8UL is the first and only Indian organization selected to be a part of the EWC Foundation’s Club Support Program, placing it among a global elite of teams competing in the tournament. The campaign is powered by iQOO, the official title sponsor.
A Fan-First Nationwide Tour
Bringing the thrill of Riyadh to Indian fans, S8UL is hosting the EWC x S8UL Watch Party tour- a multi-city celebration designed to give fans a front-row seat to S8UL’s EWC journey. The event will be held at one of each city’s top-tier restaurants or leading colleges, transforming the space into a vibrant celebration of esports culture. An open-invite, fan-first celebration of India’s run at the EWC 2025. The watch party will take place in 12 cities, where fans can enjoy the tournament’s action live alongside S8UL creators and community members. The experience will feature live match screenings, meet and greets with top S8UL creators, fun brand activations, gaming engagement zones, food and beverages, and themed photo spots perfect for content creation.
From Delhi to Kolkata, Bangalore to Jaipur and more, fans will experience esports like never before – not just as spectators, but as part of a nationwide movement to back Team India.
S8UL Gaming House Transforms for EWC 2025 While fans gather across India, the S8UL Gaming House 2.0 in Mumbai has been transformed into a private, content-driven creator space throughout the duration of the Esports World Cup. Starting this week, it will host weekly invite-only gatherings for top Indian gaming creators to come together and celebrate S8UL’s EWC matches. The vibe is casual yet collaborative, offering creators a chance to watch the matches as a squad, take part in in-house challenges and brand activations and capture real-time content including vlogs, reactions and social clips. This setup
allows creators to share authentic moments from real-time reactions to behind-the-scenes collaborations with millions of fans online, amplifying India’s EWC presence far beyond the venue.
“We’ve always believed in building the Indian esports community together – fans, creators, players, and partners,” said Animesh Agarwal, Co-Founder of S8UL. “The Esports World Cup is one of the biggest moments in global esports, and through this campaign, we’re making sure the whole country is part of the celebration. Whether you’re cheering from a college in Bangalore or vibing with creators in Mumbai, this is our time to unite and show the world the strength of Indian esports.”
EWC 2025 marks a defining moment for India on the global stage. With this campaign, S8UL invites every fan, every creator, and every supporter to be part of the journey. This dream was built together, now it’s time to cheer together as one united force for Indian esports.
The post S8UL Launches 12-City Esports World Cup Watch Party Tour and Exclusive Creator Experience in Mumbai appeared first on European Gaming Industry News.
Latest News
Betting That Works: DATA.BET’s Performance-First Approach to Sports Expansion
We sat down with Otto Bonning, Head of Sales at DATA.BET, to understand the vision behind their expansion from esports dominance into sports, and what this evolution means for operators worldwide.
Why did DATA.BET choose to expand from esports into traditional sports?
Otto: It’s a natural evolution for us. Over the past three years, we’ve built exceptional performance in esports for our clients, and now we’re ready to bring this expertise to the broader market. We have around 150 trading professionals, time-tested models, and proven capabilities – it only makes sense to expand our product offering. This isn’t just an add-on, it’s the next revolution in DATA.BET’s history.
What market gaps led you to develop a unified solution for these betting verticals?
Otto: The market lacks robust sportsbook solutions. Most operators face a choice: either sign up for a complete platform that includes everything from casino to payments, or piece together multiple providers. We identified a massive opportunity for our high-quality, plug-and-play solution that works seamlessly whether you’re a betting operator or a platform provider.
To meet this market demand and ease the integration journey, the DATA.BET team developed a Single Page Application (SPA or iFrame). Its key strengths lie in its flexibility, deep customization options – both visually and technically – and seamless integration.
For casino operators, it’s a simple solution to add quality betting without creating additional pain. It is as simple as adding a new game provider and can be completed in under a month. For betting operators and platform providers, it’s not only an addition of high-quality traditional sports, but also premium esports coverage that will help them earn more. This is a convenient option because they can connect our Odds Feed via API, or our SPA (iFrame) to their platform.
We’re offering a high-quality, personalized solution that really works for both operators and platforms. The achievements that made us a top esports provider – performance, reliability, and ease of integration – now apply to our complete sportsbook offering.
How does DATA.BET differ from competitors when handling both esports and traditional sports?
Otto: Three key differentiators set us apart. First, our technical foundation is built by developers who excel at creating technically complex solutions that are actually easy to integrate and scale for clients. No headaches, just steady performance day after day.
Second, we don’t just provide odds – we create them. Our in-house trading team combined with our data scientists and sophisticated algorithms, delivers consistent, high-performance margins across all sports. We work with official data sources, and our models are continuously tested and improved. This ensures we provide the best coefficients and quality feed.
Third, our betting product suite is comprehensive. Just like with esports, we’re bringing Bet Builder, Widgets, Video Streaming, and full functionality to sports and virtual. It’s not about having separate systems – it’s one unified, high-performance solution powered by our technical expertise, official data, and data science capabilities.
What problems do clients typically face before switching to DATA.BET?
Otto: Integration nightmares are, unfortunately, common in our industry. What we wanted to do was make one product and make it exceptionally high-quality from a technical standpoint, so that integration becomes seamless.
If you’re a casino operator, you can be up and running within 10 days. For B2B integrations, we’ve seen major platforms go live in just five weeks.
Our partnership with NuBet is a great example – they chose us for our broad market coverage, fast and seamless user experience, and a strong feature set, including Bet Builder, Video Streaming, and detailed in-game Widgets. The integration was smooth and collaborative, with both teams working hands-on. As NuBet noted, feature delivery has been rapid, feedback is valued, and issues are resolved promptly, without being left hanging.
The key to success is our integration team – they work around the clock and take an extremely bespoke approach to each client. When our partners are ambitious to go live quickly, we make it happen. The speed ultimately depends on the their readiness, but we remove all the traditional technical barriers from our side.
How do you adapt your solutions for different markets, particularly emerging regions like LatAm?
Otto: Regional differences are significant, from sports preferences to regulatory requirements. Take Brazil, for example. It’s heavily football-focused, which is why we’re enhancing our football content and securing official data rights for major leagues, including the Brazilian Série A and other Latin American competitions.
But here’s what’s interesting: esports ranks among the top three most popular betting categories in Brazil. Since we know how to do esports, combining that with top-tier football coverage creates a perfect solution for the LatAm market. We’re not just translating our product – we’re building it specifically for these markets.
What’s your approach for operators using separate providers for esports and sports?
Otto: We focus on demonstrating superior performance in specific areas. While we respect operators’ existing relationships with other providers, we can showcase our strengths in particular sports and esports disciplines. We’re exceptional at basketball and table tennis, for instance. Our models in these areas consistently outperform the competitors’.
The key is showing operators that consolidating with DATA.BET simplifies their operations and improves its margins and player experience. We work within the frameworks of our partnerships while finding ways to add value that others can’t match.
What’s particularly valuable is feedback from clients who initially were signed for esports, then also expanded to sports, and saw better performance than they had with their previous supplier.
What betting trends are you most excited about, and how is DATA.BET preparing?
Otto: The continued growth of live betting is transforming our industry. Players demand more engaging, responsive experiences – everything needs to happen in real-time. This is where our esports heritage gives us an advantage. Esports taught us that speed, accuracy, and synchronization are non-negotiable.
We’re building products where odds and game statistics visualization are timely matched. There’s no tolerance for a broken streaming feed with 30-second delays while odds update faster – that ruins the betting experience. Our unified approach ensures everything works together seamlessly. Widgets, Video Streaming capabilities, extensive markets – all synchronized and working as one cohesive system.
What’s the core message you want operators to understand about DATA.BET?
Otto: Simple: Betting that works. Stress-free, hassle-free, high-performance.
We deliver a fully functional, customizable sportsbook solution that adapts to your needs. Want to launch a new brand? Easy. Expanding to new markets? We have templates ready. Need to change your entire look and feel? It’s just a few clicks.
Our promise is steady performance, day after day, with all the tools you need to succeed. In an industry full of complexity, we’re the solution that works.
DATA.BET continues to expand its presence globally, with particular focus on emerging markets in Europe and Latin America. Their unified sportsbook solution represents a significant evolution from their esports roots, bringing the same performance-driven approach to traditional sports betting.
The post Betting That Works: DATA.BET’s Performance-First Approach to Sports Expansion appeared first on European Gaming Industry News.
Latest News
7777 gaming builds on Italian certification with Octavian Lab deal
7777 gaming has taken a significant step in its international expansion strategy by partnering with Octavian Lab. This strategic alliance reinforces the company’s commitment to establishing a strong presence in regulated European markets and marks a key milestone in its international growth plans. Through this collaboration, 7777 gaming’s certified portfolio of innovative online casino titles will be seamlessly integrated into Octavian Lab’s advanced aggregator called Hub Casino, making the games accessible to a wide network of licensed Italian operators.
“Partnering with Octavian Lab is a landmark moment for 7777 gaming,” said Elena Shaterova, Chief Commercial Officer at 7777 gaming. “Italy is a market we view as both strategic and full of potential. Through Octavian Lab’s Hub Casino, our certified games will reach a broad audience of experienced operators and players. We are confident that our titles will bring fresh energy, variety, and innovation to the Italian iGaming landscape.”
The integration includes 7777 gaming’s newly certified Italian portfolio, which features standout titles such as Crazy 100 Bucks, Cash 100, Thracian Treasures and Devil’s Deal Soul for Sale.
Each title is built for strong player engagement, offering features like bonus games, free spins, WILD symbols, multipliers, and buy-bonus options – meeting the demand of Italian players for variety and excitement.
“We are delighted to welcome 7777 gaming to our Hub Casino,” said Andres Galan Chillon, Senior Partnerships Manager at Octavian Lab. “Their portfolio brings fresh and exciting content that aligns perfectly with our commitment to providing innovative, high-quality gaming experiences for operators and players in Italy. We look forward to a successful partnership that drives growth and delivers real value to the Italian iGaming market.”
7777 gaming is an innovative online casino games provider, committed to delivering unique, engaging content that meets the highest standards of compliance and player satisfaction. With a growing presence across Europe, Africa, and Latin America and a strong focus on regulated markets like Italy – the company builds long-term partnerships that drive sustainable growth and deliver localized, high-performing gaming experiences. By combining
regulatory trust, creative excellence, and a passion for innovation, 7777 gaming continues to strengthen its position as a trusted partner in the global iGaming industry.
About 7777 gaming:
7777 gaming is an innovative and data-driven B2B igaming provider, founded in 2020 with the mission to revolutionize and challenge the status quo in the industry by offering 360-degree platform, state-of-the-art online casino games, iLottery, Jackpot, and marketing solutions, draw-based games, scratch cards, and much more.
The product is built by a dedicated team of visionaries with over 20 years of experience. The games and the RNG are tested and compliant in several highly regulated jurisdictions worldwide. Besides, the company achieved and maintained ISO 27001 certification. 7777 gaming holds a gambling license in Bulgaria and Romania and an MGA Certificate to provide its online casino games to these markets.
7777 gaming is already partnering with the leading aggregators and platform providers in the igaming industry.
Contact us:
https://www.7777gaming.com
Social Media:
Youtube
The post 7777 gaming builds on Italian certification with Octavian Lab deal appeared first on European Gaming Industry News.
-
Latest News3 months ago
Week 17/2025 slot games releases
-
Latest News3 months ago
Fortuna Partners with 2025 UEFA Under-21 EURO
-
Latest News2 months ago
ELA Games Receives Key Nomination at EGR Marketing & Innovation Awards
-
Latest News3 months ago
Bojoko.com Surpasses €100 Million in All-Time Deposits Milestone
-
Latest News3 months ago
LeoVegas Group to Open a New Office in Leeds
-
Latest News2 months ago
LEGENDS by Fire & Ice: July 1st at The BOX Soho
-
Latest News1 month ago
New Resort & Casino Selects IvedaAI for Intelligent Video Surveillance Ahead of Grand Opening
-
Latest News2 months ago
S8UL acquires North America’s leading Mobile Legends: Bang Bang roster ahead of Esports World Cup 2025
You must be logged in to post a comment Login