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Mohegan Tribal Gaming Authority

We were established in July 1995 by the Mohegan Tribe, a federally-recognized Indian tribe with an approximately 595-acre reservation situated in southeastern Connecticut, adjacent to Uncasville, Connecticut. Under the Indian Gaming Regulatory Act of 1988 (“IGRA”), federally-recognized Indian tribes are permitted to conduct full-scale casino gaming operations on tribal lands, subject to, among other things, the negotiation of a compact with the affected state. The Mohegan Tribe and the State of Connecticut entered into such a compact, the Mohegan Compact, which was approved by the United States Secretary of the Interior. We were established as an instrumentality of the Mohegan Tribe, with the exclusive authority to conduct and regulate gaming activities for the Mohegan Tribe on tribal lands and the non-exclusive authority to conduct such activities elsewhere. We are governed and overseen by a nine-member Management Board, whose members also comprise the Mohegan Tribal Council, the governing body of the Mohegan Tribe. Any change in the composition of the Mohegan Tribal Council results in a corresponding change in our Management Board. We are primarily engaged in the ownership, operation and development of integrated entertainment facilities, both domestically and internationally including: (i) Mohegan Sun in Uncasville, Connecticut, (ii) Mohegan Sun Pocono in Plains Township, Pennsylvania, (iii) Niagara Fallsview Casino Resort, Casino Niagara and the future 5,000-seat Niagara Falls Entertainment Centre, all in Niagara Falls, Canada (the “MGE Niagara Resorts”), (iv) Resorts Casino Hotel in Atlantic City, New Jersey, (v) ilani Casino Resort in Clark County, Washington, (vi) Paragon Casino Resort in Marksville, Louisiana and (vii) Project Inspire, a first-of-its-kind, multi-billion dollar integrated resort and casino under construction at Incheon International Airport in South Korea.

Calendar

14 May 21
27 Jul 21
30 Sep 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Sep 20 Sep 19 Sep 18 Sep 17
Revenue
Cost of revenue
Operating income
Operating margin
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Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 150.31M 150.31M 150.31M 150.31M 150.31M 150.31M
Cash burn (monthly) 5.95M 12.2M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 23.13M 47.38M n/a n/a n/a n/a
Cash remaining 127.18M 102.93M n/a n/a n/a n/a
Runway (months of cash) 21.4 8.4 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Financial report summary

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Management Discussion
  • •a $126.6 million impairment charge related to Mohegan Sun Pocono's intangible assets during the three months ended March 31, 2020.
  •     Net revenues increased by $6.7 million, or 3.7%, to $189.0 million for the three months ended March 31, 2021 compared to $182.3 million in the same period in the prior year. The increase in net revenues for the three months ended March 31, 2021 was driven by higher overall gaming revenues which benefited from a full period of operations at Mohegan Sun
  • during the three months ended March 31, 2021 compared to the same period in the prior year. Mohegan Sun temporarily closed, effective March 18, 2020, following the outbreak of COVID-19, and certain portions reopened to the public on June 1, 2020. The increase in gaming revenues for the three months ended March 31, 2021 also reflected higher slot and table game hold percentages. Net revenues declined by $70.7 million, or 16.6%, to $354.9 million for the six months ended March 31, 2021 compared to $425.6 million in the same period in the prior year. The decline in net revenues for the six months ended March 31, 2021 was principally due to overall capacity restrictions at Mohegan Sun driven by COVID-19.
Content analysis
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H.S. senior Avg
New words: attempt, brand, extinguishment, forward, Hard, Hospitality, implied, index, JC, MGNV, open, opened, precise, Rock, sensitive, speculative, unamortized, yield
Removed: Acceptance, Closing, comprised, fourth, Fun, paid, plan, platform, Play, recent, require

Proxies

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