Mohegan breaks EBITDA record with final covid restrictions removed
| By Marese O'Hagan
Mohegan recorded revenue of $417.0m (£341.2m/€403.2) in its third quarter 2021-22 results, the first quarter since the beginning of the Covid-19 pandemic where it had unrestricted operations.
The revenue figure for the period – ended June 30 – was up by 27.1% when compared to the same quarter a year earlier.
During the quarter, Mohegan broke its quarterly record for adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), which came to $120.0m. Raymond Pineault, CEO of Mohegan, says this was because Q3 2022 was the first quarter free of Covid-19 restrictions for its Niagara location in Canada since the pandemic began.