Mohegan Gaming & Entertainment Announces First Quarter Fiscal 2021 Operating Results
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UNCASVILLE, Conn., Feb. 11, 2021 /PRNewswire/ Mohegan Gaming & Entertainment ( MGE or the Company ), a master developer and operator of premier global integrated entertainment resorts, including Mohegan Sun in Uncasville, Connecticut, Mohegan Sun Pocono in Plains Township, Pennsylvania, the MGE Niagara Resorts in Niagara Falls, Canada and INSPIRE Entertainment Resort in Incheon, South Korea, announced today operating results for its first fiscal quarter ended December 31, 2020. As we move through the early part of 2021, we have an eye on a broader industry recovery and I am confident in MGE s position to benefit from it, said Mario Kontomerkos, President and Chief Executive Officer of MGE. Performance in the fiscal first quarter was challenging as COVID cases climbed substantially in virtually all of our markets, but the pressure we
Mohegan Sun Pocono vice president of marketing David Parfrey expects there will be a significant amount of action when it comes to betting on the big game Sunday.
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COVID-19’s impact cost the southeastern Connecticut casinos dearly during the fiscal year that ended Sept. 30, 2020, annual reports posted late last month show.
Foxwoods Resort Casino reported net revenues of $539.2 million for the period, a 31.6% decline from the $787.8 million it tallied the previous fiscal year.
Mohegan Sun’s net revenues fell to $715.7 million in fiscal 2020, down 27.9% from $992 million. Mohegan Gaming & Entertainment, the corporate entity that operates Mohegan Sun and the Mohegan Tribe’s other gaming enterprises around the world, had total net revenues of $1.11 billion, a decrease of 16.7%, according to the MGE annual report filed last week with the U.S. Securities and Exchange Commission.
The COVID-19 pandemic has changed virtually everything from how we work and socialize to how we spend time together with our extended families, which is especially challenging at this time of the year.
Millions of Pennsylvanians have lost their jobs and of thousands of businesses have been forced to close â many of them for good. As the President of Mohegan Sun Pocono, I have witnessed this impact on our team members, valued guests, and on our local service providers and vendors, many of whom are struggling.
Throughout this crisis, we have remained focused on our pledge to keep our team members and guests safe. We have invested millions in making improvements to our facility and in training team members to implement our new COVID-19 mitigation protocols. I am proud of the work we have done and am struck by the resilience of our team members throughout.
Luzerne County sees business highs, lows in 2020 thetimes-tribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thetimes-tribune.com Daily Mail and Mail on Sunday newspapers.