UNCASVILLE, CT – Mohegan Tribal Gaming Authority has announced operating results for its second fiscal quarter ended March 31, 2026.
Second Quarter 2026 and Recent Highlights:
- Mohegan reached an agreement to sell the Connecticut Sun for $300 million.Â
- Mohegan Digital achieved record quarterly net revenues and Adjusted EBITDA.
- Mohegan Digital CT average revenue per monthly active user was $470 for the quarter, an all-time high.
- Mohegan Sun exceeded 60% in Connecticut slot market share in March, which is the highest monthly market share in the past five years.
Net revenues of $429.0 million increased $10.1 million. Results were largely driven by Mohegan Digital achieving record quarterly performance to date, which was partially offset by unfavorable table hold and lower table volumes at Mohegan Sun. Adjusted EBITDA of $85.4 million increased $1.5 million, however, after normalizing for Mohegan Sun’s table hold, Adjusted EBITDA would have been up $8.3 million, or 10.0%.
Prior period amounts have been restated to exclude results of operations of Inspire Integrated Resort Co., Ltd., its parent company MGE Korea Limited, and certain affected subsidiaries, from continuing operations.
Net revenues of $288.6 million decreased $9.4 million compared with the prior-year period. Strong slot performance at Mohegan Sun was offset by unfavorable table hold and lower table volumes at the resort. In addition, the prior-year comparable results include $4.8 million from Las Vegas operations. Adjusted EBITDA of $59.7 million decreased $11.5Â million compared with the prior-year period, primarily driven by lower revenues and slightly higher operating expenses, including increased energy costs.
Net revenues of $79.3 million increased $22.7 million, and Adjusted EBITDA of $39.7 million increased $12.9 million compared with the prior-year period. Mohegan Digital achieved record quarterly net revenues, Adjusted EBITDA, and average revenue per monthly active user.
Net revenues of $66.5 million decreased $0.6 million, and Adjusted EBITDA of $1.8 million decreased $0.9 million compared with the prior-year period. The decrease in Adjusted EBITDA is mainly due to lower net revenue, and an increase in contractual lease obligations. Adjusted EBITDAR of $8.7 million, which excludes real estate rent expense, increased $1.2Â million compared with the prior-year period.
Net revenues of $4.4 million increased $0.6 million compared with the prior-year period. Adjusted EBITDA loss of $15.8 million was $1.0Â million favorable compared with the prior-year period. The increase in Adjusted EBITDA is primarily attributed to labor savings in the current period related to our recent workforce reduction. Net loss in the prior-year period includes a $179.5 million loss from discontinued operations related to Mohegan Inspire.
