Similarly, adjusted EBITDA plummeted to a loss of $3.1 million, negative 434.2% when compared to the corresponding period for the prior year.
This result marked a year-over-year decrease of nearly 42%. Overall, Mohegan Las Vegas posted revenue of $3.8 million in Q4 or the three months ended September 30, 2023.
The off-Strip casino location made Mohegan the first tribal gaming operator to enter Sin City after it struck a partnership with JC Hospitality for the former Hard Rock Las Vegas, now Virgin Hotels. Despite the positive result, Mohegan’s Las Vegas operations showed a decrease in adjusted EBITDA and revenue.Ĭurrently, Mohegan Las Vegas operates inside Virgin Hotels Las Vegas, offering casino gambling as well as a sportsbook that is operated by Betfred Sports. The company’s Q4 figures highlighted growth and diversification with an overall net revenue increase of 7.6% year-over-year to $444.3 million. Earlier this month, the Mohegan Tribal Gaming Authority, the premier integrated entertainment resort developer, released its fourth quarter results.
