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Mohegan Reports Financial Results for 2025

The Mohegan Tribal Gaming Authority, known for owning and managing premier entertainment resorts in the U.S. and Canada, has announced its financial results for the fourth quarter and the full fiscal year 2025. The results depict a growth trajectory, especially within the digital gaming space.

Fourth Quarter Highlights

In the fourth quarter of 2025, Mohegan's net revenues reached $453.0 million, a notable increase of $17.5 million compared to the same period the previous year. This growth was significantly driven by a remarkable 40.3% rise in revenues from Mohegan Digital, which reported $61.6 million in revenues. The digital segment's Adjusted EBITDA also saw a favorable increase, rising to $24.9 million, signifying a positive trend and substantial addition to the overall financial landscape of the organization.

CEO Raymond Pineault commented on the overall performance, stating that core properties and digital operations together propelled the net revenues up by 6.0% year over year on a consolidated same-store basis. The impressive growth in digital revenues can be attributed mainly to the surge in Mohegan Digital operations.

Annual Performance Overview

For the full fiscal year ending September 30, 2025, Mohegan reported total revenues of $1.744 billion, which also reflects an increase of $18.6 million year-over-year. Driven predominantly by the thriving digital segment that posted a 48.5% increase, this performance shows the brand's increasing competitiveness in the gaming and hospitality sectors.

However, despite the positive growth, the organization noted a consolidated Adjusted EBITDA of $355.0 million, which represented a decrease of $41.1 million compared to the prior year. Much of this can be attributed to non-recurring benefits the previous year had experienced, such as digital license fee revenue and operational advantages from the ilani management contracts.

Segment Performance

Mohegan's domestic and international resorts displayed varying performances. The domestic resorts generated net revenues of $322.7 million in Q4, a decline partly due to a decreased table hold. In contrast, Mohegan Digital's results painted a starkly different picture, highlighting its robust growth potential and positioning within the online gaming market.

Ari Glazer, CFO at Mohegan, emphasized the innovative strategies being deployed within the digital sector, which are expected to capture a broader audience and increase profitability. With online gaming rapidly gaining traction across North America, Mohegan Digital’s forward-looking initiatives aim to cement a leading presence in this growing market.

Looking Ahead

As part of its ongoing efforts to innovate and expand, Mohegan is set to host a conference call to discuss the fourth-quarter results in detail. This event, scheduled for December 11, 2025, at 11:00 AM ET, will provide audiences a chance to understand future directions, challenges, and strategies that Mohegan aims to employ in a competitive landscape.

Conclusion

Mohegan’s latest financial disclosures reflect a blend of growth and valuable insights into operational performance across different segments. With a strong emphasis on digital operations, the organization appears well-positioned to leverage current trends in the gaming industry. As the digital space continues to flourish, Mohegan's strategic initiatives will likely bolster its market standing across North America.

For more details on Mohegan's offerings and future plans, visit Mohegan Gaming.