Mohegan Gaming Reports Record-Breaking 2024 Fiscal Revenue

By Jane Shaw Senior Editor Updated: 01/08/2025

Jane Shaw Senior Editor See Full Bio

We count on Jane to inform our readers about the latest slot games in the US market. With her passion for video games and a degree in engineering, she’s our gambling tech expert. Jane’s also active in our blog section, where she tackles the curiosities and changes in the industry.

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Mohegan Gaming Reports Record-Breaking 2024

The Mohegan Tribal Gaming Authority, widely known as Mohegan, has announced its financial results for the fiscal year that ended on September 30, 2024. The company reported net revenues of $1.9 billion, marking a 13% increase from the previous year. This is due to several reasons, which we’re going to review below, so make sure to read on.

A Year of Growth and Transformation

The 2024 fiscal year marks a significant milestone for Mohegan Gaming. The company has taken a few essential steps that led to its record-breaking revenue. This includes a combination of innovative digital strategies and the continued success of Mohegan’s integrated resort developments.

Just recently, in November 2023, the Mohegan INSPIRE Entertainment Resort opened its doors in Incheon, South Korea. This establishment alone contributed $163.3 million in net revenues since its opening. Raymond Pineault, CEO of Mohegan, reflected on the company’s journey from its roots to becoming a global player in the resort and digital gaming sector.

“It’s been 30 years since the Mohegan Tribe was granted federal recognition, and in that time, we’ve transformed Mohegan from a regional, single casino into one of the premier global integrated omni-channel resort operators,” – Pineault stated.

Quarterly Achievements and Challenges

In the fourth quarter of fiscal year 2024, Mohegan reported net revenues of $327.1 million, representing a 12% increase from the same period the previous year. In fact, this quarter marks the second highest in the company’s history, despite a slight dip in Adjusted EBITDA to $349 million. The dip is mainly due to the higher operational costs related to the launch of Mohegan INSPIRE.

Digital Gaming on the Rise

Another major revenue contributor was Mohegan’s digital gaming division. It marked impressive growth, with net revenues increasing by $60.1 million year-over-year, reaching $160.7 million for the fiscal year. The digital sector’s Adjusted EBITDA also saw significant improvement due to a comprehensive expansion in their online gambling operations, particularly within Connecticut.

Future Prospects and Strategic Outlook

Given the latest revenue report, Mohegan Gaming is optimistic about its future and rightfully so. The company has had a record-breaking year and is properly equipped to continue on its evidently successful path. From a humble beginning with a single gambling establishment in Connecticut back in 1996, Mohegan has managed to expand its operation on national and international scale.

They now run online and brick-and-mortar casinos in Pennsylvania, New Jersey, and Nevada. Mohegan gambling properties are also found outside the US in Canada and South Korea. We’ve yet to see what’s next from the Mohegan Tribal Gaming Authority, but we’ll keep you posted with any updates we learn in the future.

Conclusion

The record revenue reported from Mohegan Gaming is yet another sign of a growing industry. Just recently, we’ve seen that the US online casino revenue has also surged in all legal states, including New Jersey, West Virginia, Michigan, Pennsylvania, Delaware, Connecticut, and Rhode Island. We expect that this trend will continue in the years to come.