“We still believe in the property and we want to be in Las Vegas,” Madigan said.
One analyst during a quarterly conference call last week questioned the company’s operations in Las Vegas, even suggesting the tribe jettison its contract with JC Hospitality, which owns the Virgin property.Ĭhief Operating Officer Jody Madigan told investors that walking away from the agreement was not an option. Mohegan Sun accounted for more than half of the company’s quarterly revenue. The $3.8 million from Mohegan Las Vegas was just a fraction of Mohegan Gaming’s $444.3 million collected this quarter from its network of casinos, including the flagship Mohegan Sun in Connecticut, Mohegan Pennsylvania and Resorts Atlantic City. Mohegan Gaming did not provide a 12-month revenue total for the casino that it has operated since March 2021 through a management agreement. The 60,000-square-foot gaming space saw a 42 percent revenue decline in the three months that ended Sept. But the record haul wasn’t because of the Mohegan Las Vegas casino, which is operated as part of Virgin Hotels.
