On October 12, Mohegan Sun in Uncasville, Connecticut will celebrate its 25th anniversary and also introduce iGaming and sports wagering. Better yet, the casino resort has more than bounced back from the Covid-19 pandemic.
For the quarter that ended June 30 Mohegan Gaming & Entertainment (MGE) which operates the Mohegan Sun and a portfolio of casinos in Pennsylvania, Canada and Las Vegas and will in 2023 open one in South Korea, took in net revenues of $328.2 million, a 206 percent jump over the year before, with an EBITDA of $101.7 million, a 1,111.2 percent increase.
Mohegan Gaming & Entertainment President and CEO Ray Pineault September 25 assured the Business Journal, “We’ve taken all the steps necessary to make sure our visitors are safe.” The Connecticut casino resort has adopted protocols more stringent than those recommended by the CDC and state and local governments, he said. “We continue to put protocols in place and maintain a culture centered on our guests’ safety and we’ve been pleased with the results.”
As part of the 25th anniversary celebration, members of the Momentum loyalty program will be able to earn a chance to win “free slot play” and as much as $50,000 in cash. Guests can also try to win the $250,000 Anniversary Slot Sweepstakes.
The Mohegan Sun launched sports betting September 30 at the Sports & Arrow sports bar inside the casino. It is partnered with FanDuel.
Pineault added that the market, “represents a huge opportunity for us as well as tax revenue for the state. We think the state will be pleased with the results we see.”
Some sports betting experts expect Connecticut to eventually become a market of more than $1.5 billion annually while online casinos could be looking at an annual gross of $350 million.
PlayUSA.com network analysist Eric Ramsey notes that the state is a small market but could outperform its size. “Geographically, the state is in a good place, with the potential to draw significant out-of-state business from New York and Massachusetts. And Connecticut features one of the highest median household incomes in the U.S.,” he told Business Journal.
