Ari Glazer CFO at Mohegan
Mohegan Announces First Quarter Fiscal 2026 Operating Results
Mohegan Tribal Gaming Authority announced operating results for its first fiscal quarter ended December 31, 2025.
First Quarter 2026 and Recent Highlights:
Mohegan Sun generated its highest Q1 net slot win since FY’18.
Mohegan Digital achieved its highest ever quarterly net revenues and Adjusted EBITDA.
Mohegan Digital monthly active users at an all-time high.
Mohegan Digital Adjusted EBITDA increased 44.5% year over year.
“Adjusted EBITDAR of $95.3 million increased 2.4% on flat net revenues. Results were largely driven by Mohegan Digital delivering its strongest quarterly performance to date. Adjusted EBITDA of $86.4 million decreased $3.1 million, as the prior year comparable period benefitted from favorable table hold at Mohegan Sun and a one-time property tax adjustment at Niagara Resorts. After normalizing for these factors, Adjusted EBITDA would have been up $4.8 million, or 5.9%,” said Ari Glazer, Chief Financial Officer of Mohegan.
Prior period amounts have been restated to exclude results of operations of Inspire Integrated Resort Co., Ltd., its parent company MGE Korea Limited, and certain affected subsidiaries, from continuing operations.
Net revenues of $300.0 million decreased $12.0 million compared with the prior-year period. Entertainment revenues declined as a result of fewer arena events in the current period, while the prior-year comparable period benefitted from favorable table hold at Mohegan Sun and $6.6 million of net revenues from Las Vegas operations. Adjusted EBITDA of $64.8 million decreased $9.8 million compared with the prior-year period, factoring in the previously described items.
As of December 31, 2025 and September 30, 2025, Mohegan held cash and cash equivalents of $154.0 million and $128.0 million, respectively. Inclusive of letters of credit which reduce borrowing availability, Mohegan had $146.8 million of borrowing capacity under its senior secured credit facility and line of credit as of December 31, 2025. In addition, inclusive of letters of credit which reduce borrowing availability, Niagara Resorts had $36.5 million of borrowing capacity under its revolving credit and swingline facility as of December 31, 2025.
The post Mohegan Announces First Quarter Fiscal 2026 Operating Results appeared first on Americas iGaming & Sports Betting News.
Mohegan, a global leader in premium entertainment and gaming resorts, has announced that Ari Glazer will be appointed Chief Financial Officer. With over 20 years of investment banking experience advising global gaming and hospitality companies, Mr. Glazer brings a wealth of financial acumen and industry knowledge to the role. He will have responsibility for all finance activities including financial planning and analysis, capital markets, accounting, tax, treasury, procurement and cash management. Mr. Glazer will report to Ray Pineault, President and Chief Executive Officer of Mohegan.
“Ari embodies the visionary leadership and deep financial insight that Mohegan is looking for at this stage of our growth,” said Ray Pineault. “His skills will be key to our strategy of diversifying Mohegan’s portfolio and strengthening our fiscal foundation.”
With a career spanning more than two decades in investment banking, Mr. Glazer brings an extensive track record of leadership and strategic achievements to Mohegan. Prior to joining Mohegan, he spent 20 years at Citigroup where he served most recently as Managing Director and Global Head of Gaming and Hospitality client coverage. Mr. Glazer has advised leading companies in the industry on strategic and capital markets transactions, successfully guiding clients through complex situations with innovative solutions that delivered substantial business growth and value creation. He brings deep experience across both U.S. and international financial markets, to support Mohegan as a leading global diversified gaming operator.
“I am honored to join Mohegan and to contribute to the company’s dynamic and innovative trajectory,” said Ari Glazer. “I look forward to leveraging my experience to enhance our financial performance, optimize our capital structure and support Mohegan’s ambitious vision as its new Chief Financial Officer.”
Mr. Glazer’s leadership will fortify Mohegan’s position as a leader in the entertainment and gaming industry, while providing continuity to drive several strategic initiatives that we have underway to support the company’s long-term goals of fiscal discipline, innovation and meaningful partnership with the investment community. Mr. Glazer’s appointment will be effective May 1, 2024, with finance functions reporting to Ray Pineault for an interim period following the departure of Carol Anderson on March 31, 2024.
Mr. Glazer holds a B.A. from New York University and an M.B.A from the Columbia Business School at Columbia University.
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