Mohegan's digital gambling arm carried the company through a mixed second quarter, posting record revenues and earnings even as the group's physical casinos fell short on table game performance.
Net revenue was reported at $429m for the three months ended March 31, 2026, representing a 2.4% increase compared with the same period last year. Adjusted EBITDA reached $85.4m, up $1.5m year-over-year.
The company said results were affected by unfavorable table hold at Mohegan Sun. Excluding that impact, consolidated adjusted EBITDA would have increased by $8.3m, or 10%, during the quarter.
The strongest performance came from Mohegan Digital, the group’s online gaming and sports betting division, which continued its rapid expansion.
The segment posted net revenue of $79.3m, a 40.2% increase from $56.6m in the prior-year period, while adjusted EBITDA climbed 47.9% to $39.7m. Average revenue per monthly active user reached $470, marking an all-time high for the platform.
At the same time, Mohegan Sun surpassed a 60% share of Connecticut’s slot market in March, its highest monthly level in five years.
The domestic resorts segment, however, faced a more challenging quarter. Net revenue declined by $9.4m year-over-year to $288.6m, as strong slot performance was more than offset by unfavorable table hold and lower table game volumes.
The company also noted that the prior-year comparison included $4.8m from Las Vegas operations that are no longer active. Adjusted EBITDA for the segment fell by $11.5m to $59.7m.
On the corporate side, Mohegan reached an agreement to sell the Connecticut Sun franchise for $300m, a transaction that could significantly reshape the company’s balance sheet and asset structure ahead of the second half of the fiscal year.
The company said it achieved record quarterly net revenues, adjusted EBITDA, and average revenue per monthly active user.
As of March 31, the company reported $126.9m in cash and $228.5m in available borrowing capacity under its senior secured credit facility
