Mohegan Tribal Operator announced its third quarter financial report for 2025. Despite a 1.6% decrease in overall revenue to $436.9 million, net losses significantly reduced by 82.6% to $5.2 million from $29.9 million. Adjusted EBITDA decreased by 16.3% to $94.1 million.
The online business segment shone particularly brightly, with Mohegan Digital's revenue surging by 61.2% year-over-year to CAD 67.5 million, with adjusted EBITDA and net profit both increasing by over 48%. The digital business in Connecticut was a major growth driver, with stable performances in Pennsylvania and Ontario as well.
In contrast, the domestic resort segment was under pressure, with revenue falling by 4.3% to CAD 297.3 million, EBITDA decreasing by 14.7%, and net profit dropping by 20.1%. The performance decline was mainly due to high base effects from the previous year and rising labor costs. Although international resorts saw a slight increase in net revenue, operating income and EBITDA continued to decline.
In segmented businesses, gaming revenue reached $311.7 million, up 4.6% year-over-year; food and beverage revenue slightly increased to $45.4 million; hotel revenue slightly decreased to $29.3 million; retail and entertainment revenue significantly decreased, mainly affected by poor performances at the Inspire Music Festival and K-Pop awards events.
Mohegan CEO Raymond Pineault stated that the recent comprehensive refinancing has strengthened the company's financial position and strategic flexibility, and the company will continue to drive digital business transformation, focusing on long-term growth and creating value for stakeholders.
