Canada
Mohegan Announces First Quarter Fiscal 2023 Operating Results
Mohegan Tribal Gaming Authority has announced the operating results for its first fiscal quarter ended December 31, 2022.
“Our consolidated Adjusted EBITDA of $101.1 million continues our trend of strong performance. Our diversification strategy and continued focus on profitability have enabled Mohegan to offset some of the inflationary and labor pressures and achieve these strong results,” Raymond Pineault, Chief Executive Officer of Mohegan, said.
“Our Adjusted EBITDA margin of 24.9% was 605 basis points favorable compared with our pre-COVID-19 first quarter of fiscal 2020 and 62 basis points favorable compared with the prior-year period,” Carol Anderson, Chief Financial Officer of Mohegan, said.
The growth in net revenues compared with the prior-year period was primarily driven by a full period of operations and a return to relatively normal operating conditions at the Niagara Resorts, combined with the continued growth in online casino gaming and sports wagering operations in Connecticut.
Mohegan Sun
Net revenues decreased $12.2 million compared with the prior-year period due to declines in both slot and table games revenues, reflecting lower overall volumes as the prior-year benefited from Mohegan Sun’s 25th anniversary celebration. Results were also impacted by unfavorable slot and table hold and weather in the current-year period. Adjusted EBITDA of $67.8 million was 13.3% unfavorable compared with the prior-year period, due to lower volumes and increased labor and other operating expenses in the current-year period. The Adjusted EBITDA margin of 28.3% was 150 basis points favorable compared with pre-COVID-19 first quarter of fiscal 2020, but 277 basis points unfavorable compared with the prior-year period.
Mohegan Pennsylvania
Net revenues decreased $4.4 million compared with the prior-year period primarily due to lower gaming revenues as a result of lower gaming volumes that were impacted by poor weather and table games hold percentage. Adjusted EBITDA decreased $2.4 million, or 16.7%, compared with the prior-year period, primarily due to the decrease in net revenues. Adjusted EBITDA margin of 20.3% was 220 basis points favorable compared with pre-COVID-19 first quarter of fiscal 2020, but 239 basis points unfavorable compared with the prior-year period.
Niagara Resorts
Net revenues increased $11.2 million compared with the prior-year period due to higher gaming volumes and a substantial increase in non-gaming revenues. These results reflect increased volumes related to the opening of the 5000 seat OLG Stage entertainment venue and the properties operating without various COVID-19 related restrictions in the current year. Adjusted EBITDA increased $1.0 million or 8.7%. Adjusted EBITDA margin of 16.1% was 1160 basis points favorable compared with pre-COVID-19 first quarter of fiscal 2020, but 134 basis points unfavorable compared with the prior-year period due to the continued reintroduction of certain lower margin non-gaming amenities, as well as increased labor, marketing, and other operating costs.
Powered by WPeMatico
Alberta Gaming, Liquor and Cannabis (AGLC) has announced the appointment of Larry Spagnolo as the new Board Chair, effective August 15, 2025. This announcement follows the official Order in Council issued by the Alberta Government and marks a new chapter in AGLC’s ongoing commitment to support communities, encourage responsible choices and position Alberta as the best place to do business.
Larry brings a wealth of experience in technology and business leadership to the AGLC Board and will play an integral role in guiding AGLC’s strategic direction. He is currently serving as VP and GM of Emerson’s SaaS SCADA business and has held senior roles at Zedi and Telus, driving innovation, growth, and global success.
A strong advocate for education and community, Larry serves as Vice Chair of Athabasca University’s Board of Governors and has held board roles with NAIT and Polytechnics Canada. He was awarded the King Charles III Coronation Medal for his community contributions.
AGLC and the Board of Directors extend their heartfelt thanks to Len Rhodes for his leadership and dedication as Board Chair since August 2019. He decided not to seek a third term and will continue to serve in this role until August 14, 2025. Len led AGLC through some significant milestones, including reducing red tape by 51%, growth of the emerging cannabis industry and ensuring AGLC delivered a balanced approach to business development, social responsibility, and regulatory oversight.
The post AGLC Announces New Board Chair appeared first on Gaming and Gambling Industry in the Americas.
EveryMatrix has expanded its partnership with tier-1 operator Pinnacle powering its new casino in Ontario, Canada, using CasinoEngine platform technology – the first time its platform solution has gone live in North America.
The latest agreement builds on the two companies’ previous collaboration that saw EveryMatrix’s CasinoEngine productivity platform power the well-known brand’s global casino offering.
The new launch takes the relationship to North America, marking EveryMatrix’s debut CasinoEngine platform integration in that market.
BonusEngine, EveryMatrix’s cross-vertical bonusing tool will be integrated in the second phase of launch. This will equip Pinnacle Ontario with a host of bonus types as well as AI-powered bonus abuse solution Bonus Guardian.
BonusEngine is the first of multiple engagement tools from EveryMatrix’s EngageSuite that Pinnacle plans to integrate.
With this comprehensive toolkit at its disposal, and the opportunity to add even more casino products in the future, Pinnacle Ontario can tailor campaigns, segment audiences, and reward players more effectively, creating a world-class digital entertainment experience for its customers.
EveryMatrix has more than 300 global customers and holds North American licences in Ontario, New Jersey, Michigan, West Virginia, Connecticut and Pennsylvania.
Stian Enger Petersen, CEO, Casino, EveryMatrix, said: “This launch marks a key milestone for EveryMatrix as we bring our market-leading CasinoEngine platform to Canada for the first time.
“We’re delighted to expand our partnership with Pinnacle and support their ambitions in Ontario with a powerful combination of platform, content, and engagement tools that are proven to drive success.”
The post Pinnacle Ontario live with CasinoEngine in North America debut appeared first on Gaming and Gambling Industry in the Americas.
As CEO of Prime Skill Games Inc., I feel compelled to address recent comments made by the Alcohol and Gaming Commission of Ontario regarding so-called unapproved gambling machines in convenience stores across the province.
Let me be perfectly clear
Our machines are not gambling devices. They are entirely skill-based, fully compliant with the law, and built on the fundamental idea that players are in control. The outcome of every session is determined solely by the player’s ability, not by random chance.
Prime Skill Games is proud to be the only true skill game operating in Ontario today.
We categorically reject any suggestion that our products fall under the definition of unregulated gambling. Such statements are inaccurate, misleading, and fail to recognize the critical distinction between games of skill and games of chance.
We stand firmly behind the legality of our machines and the integrity of our operations. We will demonstrate this through every available means, whether through legal documentation, expert analysis, or, if necessary, before the courts. We are prepared and unafraid to defend the truth.
To our players, partners, and business community, we want to reassure you that our mission has not changed. We are committed to offering a responsible, transparent, and innovative entertainment experience. We will not be intimidated by broad and baseless accusations, and we will continue to move forward with strength and clarity.
Sincerely
Matt Zamroźniak
Chief Executive Officer
Prime Skill Games Inc.
The post Prime Skill Games Inc. Official Response to AGCO Press Release appeared first on Gaming and Gambling Industry in the Americas.
-
Uncategorized6 days agoBety Casino Launches New Premium Platform with Trusted Licensing, Instant Crypto Withdrawals, and Elite Gaming
-
Australia6 days ago
ACMA: ReadyBet Breaches Gambling Self-exclusion Rules
-
Nasdaq:LTRYW6 days ago
SEGG Media: Three SEGG Stars Light Up Laguna Seca: Ilott, Foster, and Murray Set for Monterey Showdown
-
Australia6 days ago
VGCCC Fines Werribee RSL for Self-exclusion Failures
-
Latest News7 days ago
SSC Napoli, Champions of Italy, Aligns with Rabona in Long-Term Strategic Partnership
-
Carlo Santarelli6 days ago
Gaming and Leisure Properties Inc. Names Carlo Santarelli Senior Vice President, Corporate Strategy and Investor Relations
-
AGLC3 days ago
AGLC Announces New Board Chair
-
Latest News6 days ago
Mindway AI Announces Strategic Partnership with Docaposte
