Mohegan Tribal Gaming Authority is cutting staff and preparing for a leadership change as it posted higher fourth-quarter revenues but continued losses driven by weaker results at its core properties. The Uncasville-based casino and entertainment operator confirmed Thursday it initiated workforce reductions after the quarter ended, a move expected to generate about $9 million in […]
Mohegan Tribal Gaming Authority is cutting staff and preparing for a leadership change as it posted higher fourth-quarter revenues but continued losses driven by weaker results at its core properties.
The Uncasville-based casino and entertainment operator confirmed Thursday it initiated workforce reductions after the quarter ended, a move expected to generate about $9 million in annual savings. Additionally, CEO Ray Pineault said he will step down Dec. 28 after nearly 25 years with the Mohegan Tribe.
The cost-cutting effort follows a quarter in which Mohegan reported $453 million in net revenues for the period ended Sept. 30, up 4% year over year, fueled largely by a 40% surge in Mohegan Digital revenues. Still, the company posted a $2.5 million net loss, compared with a $58.9 million loss a year earlier.
During an investor call, CFO Ari Glazer said the layoffs “did not impact our 2025 results but will optimize our cost structure going forward,” with savings flowing through over the next four quarters beginning in fiscal 2026. He said the reductions were designed to align staffing with Mohegan’s strategic priorities.
He didn’t provide further details on the scope of the job cuts.
Thursday’s call also served as Pineault’s final earnings presentation. He praised long-term performance at the company’s flagship properties.
Pineault said Mohegan Sun and Mohegan Digital together delivered the company’s strongest operating performance since 2007 for the 12 months ended Sept. 30.
He added that Mohegan Sun’s revenue mix continues to diversify, with about 38% now coming from non-gaming operations. Food and beverage revenue surpassed $116 million in fiscal 2025 and hotel revenue reached roughly $100 million.
Digital operations remained Mohegan’s fastest-growing segment. Mohegan Digital generated $61.6 million in fourth-quarter net revenues, up 40.3% from a year earlier, with segment profitability rising as well.
Mohegan Sun in Connecticut posted $260.1 million in fourth-quarter net revenues, its strongest quarter since 2018. For the full fiscal year, the property produced $978.5 million in net revenues, the highest total since 2019.
Despite those gains, the company’s domestic resorts segment weakened. Fourth-quarter net revenues in the division declined 1.3% to $322.7 million, reflecting softer results at certain properties and the absence of prior-year one-time gains.
Pineault acknowledged the company’s challenges in South Korea, where Mohegan previously invested in the Inspire resort.
“Inspire Korea did not achieve our expectations,” he said. “We made the deliberate decision not to deploy further capital, and as a result, we are not currently an equity holder in the project. That said, certain linkages remain, and we are actively working to resolve those in the most advantageous way for Mohegan and all stakeholders.”
Glazer declined to comment on any potential transaction involving the WNBA’s Connecticut Sun, which Mohegan owns.
“We’re tremendously proud of the Connecticut Sun and how that team has performed under our ownership for more than two decades,” he said, adding the team has committed to playing at Mohegan Sun Arena for the 2026 season.
