Mohegan Sun closed out the first three months of the year with a sharp rebound in earnings from a pandemic-stricken 2020, the casino’s parent company announced Thursday.
Mohegan Gaming & Entertainment said its flagship location generated income of $51.7 million in its second quarter, up from $19 million in the year-ago period.
MGE’s fiscal year ends on Sept. 30, making the first three months of the year its second quarter.
Mohegan Sun’s total revenues grew from $182.2 million to $189 million.
Like many other major indoor facilities, Mohegan Sun has been gradually easing COVID-19-related occupancy restrictions in accordance with state guidelines, and customers, emboldened by increasing vaccination rates, are returning to the casino’s hotel and gaming floors.
MGE as a whole reported earnings of $44.8 million, up from a loss of $106.2 million last year. Mohegan Sun was the major contributor to that total, with Mohegan Sun Pocono in Pennsylvania adding $6.4 million in profits and MGE Niagara Resorts losing $11.2 million.
The Mohegan Tribe in March entered into an agreement with Gov. Ned Lamont and the Mashantucket Pequot Tribal Nation allowing sports betting and online gambling to move closer toward legalization in Connecticut. The deal must be approved by the General Assembly before it can come into effect.
That same month, MGE received approvals from the South Korean government allowing the company to pursue financing for Inspire, an entertainment and resort complex expected to be built in Incheon.
