Mohegan wraps up successful Q4 and fiscal year with strong revenue

• Newly released financial report highlights the performance of Mohegan in Q4 and the full fiscal year
• Raymond Pineault, Mohegan's Chief Executive Officer, acknowledged that the primary catalyst for revenue growth was Mohegan Digital
• Mohegan's full fiscal year revenue increased slightly year-over-year to $1.74bn

The leading owner, developer and operator of premier entertainment resorts in the United States and Canada, Mohegan, disclosed its operating results for the fourth quarter and full fiscal year, ended September 30, 2025.

The newly released data highlighted strong net revenue growth during the latest quarter, impacted positively by a solid increase in Mohegan Digital net revenues.

Mohegan Digital revenue soars in Q4

Per Mohegan's newest unaudited financial report, net revenues in Q4 this year increased by a single digit percentage to $453m.

On the other hand, income from operations decreased slightly from $56.9m in Q4 last year to $55.8m during the fourth quarter this year.

Similarly, adjusted EBITDA reported by Mohegan decreased in Q4 this year to $87.4m, down by 1% when compared to the $88.3m result from the same period in 2024.

Ari Glazer, Mohegan's Chief Financial Officer, commented in a press release: "Consolidated Adjusted EBITDA of $87.4 million decreased 1.0% compared with the prior-year period, as the prior year benefitted from ilani management fees and Las Vegas operations, but was negatively impacted by a higher non-cash adjustment to the value of a customer contract asset at Niagara Resorts."

Importantly, Mohegan recorded significant growth in revenue from Mohegan Digital.

In Q4 this year, Mohegan Digital's net revenues soared to $61.6m, up by $17.7m or an increase of 40.3% when compared to the $43.9m figure posted during the same period the prior year.

Raymond Pineault, Mohegan's Chief Executive Officer, spoke with excitement about the latest results.

"In fiscal year 2025, our core properties and digital operations grew net revenues 6.0% year over year on a consolidated same-store basis," he said.

Moreover, Pineault pointed out: "Mohegan Digital was the primary catalyst, with net revenues growing 48.5% year over year."

Fiscal year revenue up, income from operations and adjusted EBITDA dip

Focusing on the bigger picture, Mohegan disclosed data regarding the fiscal year ended September 30, 2025.

Notably, net revenues reported by the company in that period hit $1.74bn, slightly above the $1.73bn result from the prior year.

On the other hand, the income from operations for the fiscal year was $259.3m, while adjusted EBITDA halted just shy of $355m, both marking decreases year-over-year.

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