Revealed: Financial Report for Q3 Fiscal Year 2025 by Mohegan Corporation
Mohegan Sun, Connecticut's premier gaming, entertainment, and hospitality venue, has announced a remarkable growth in its revenue, particularly in its digital operations, during Q3 2025. This growth was primarily driven by the success of the company's online gaming and iGaming platform, which benefited from increasing digital engagement and market demand.
The strategic move to unveil four new culinary concepts in June has positioned Mohegan well for continued growth. The company's comprehensive refinancing strategy, completed under the leadership of Chief Executive Officer, Raymond Pineault, has been highlighted as a key factor in this success. Pineault also emphasised that this important milestone further supports Mohegan's opportunities for long-term growth.
Mohegan's Chief Financial Officer, Ari Glazer, attributed the decline in domestic resorts revenue to higher revenues in the prior year related to one-time accelerated non-cash digital license fee revenue at Mohegan Pennsylvania and gaming revenues from Mohegan Casino Las Vegas. However, the evolution of Mohegan's Digital business provides greater strategic flexibility, according to Pineault.
The growth in Mohegan Digital revenue was primarily driven by its Connecticut operations, which recorded significant growth thanks to high profits and increased player engagement. The company believes that the positive impacts from regulatory and market conditions favourable to online gambling growth within the state played a significant role in this success.
Possible partnerships and market access collaborations, such as with operators like FanDuel, may have supported revenue expansion through enhanced product offerings and customer reach in Connecticut. As a result, Mohegan Digital's Q3 2025 revenue growth and improved financial performance were largely attributed to its focus on online gaming innovation and digital market expansion particularly within Connecticut.
After normalizing the prior year period for the ilani and Mohegan Pennsylvania adjustments, Adjusted EBITDA would have been up $4.4m, or 4.9%. However, net revenues and Adjusted EBITDA declined compared with the prior-year period, as the prior year benefited from ilani management fees and one-time accelerated non-cash digital license fee revenue at Mohegan Pennsylvania.
With the company now singularly focused on executing its plan and increasing value for all its stakeholders, Mohegan is well-positioned to continue its growth trajectory.
In light of the growth in Mohegan Digital's revenue, as CEO Raymond Pineault emphasized, the company's strategic financial and investing decisions, such as its refinancing strategy and focus on online gaming innovation, have been instrumental. Furthermore, the strategic partnerships and market access collaborations, including potential ones with operators like FanDuel, have contributed to Mohegan Digital's expansion by enhancing product offerings and extending customer reach within Connecticut, a market hospitable to online gambling growth.
