Connect with us

Industry News

Mohegan Gaming’s net revenue decreases for previous quarter

Published

on

Mohegan Gaming’s net revenue decreases for previous quarterReading Time: 1 minute

 

Mohegan Gaming & Entertainment has published its financial results for the fiscal quarter that ended on 31 December 2018. The company’s net revenue and EBITDA decreased during the period.

The net revenue during the period is US$319.5 million, a 3.6 per cent decrease from the US$331.5 million in the last year. Income from operations dipped by 21.2 per cent to US$43.4 million, around US$12 million less than what was registered in the same period a year before. Adjusted EBITDA was US$71.9 million, a 5.4 per cent slide.

Consolidated net revenues declined modestly during the quarter, driven by slightly lower gaming revenues at Mohegan Sun and Mohegan Sun Pocono, and continued increases in promotional activities in the Mohegan Sun Pocono gaming market. These factors, combined with higher slot taxes assessed by the Commonwealth of Pennsylvania and increased healthcare costs, all contributed to the year-over-year decline in Adjusted EBITDA, explained the company.

“While consolidated first quarter revenues and Adjusted EBITDA were modestly below prior year results, we remain encouraged, as overall gaming volumes at our flagship property, Mohegan Sun, were better than expected following the first full quarter of increased competition in the Northeast gaming market.” stated Mario Kontomerkos, President & Chief Executive Officer of MGE.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Mohegan Gaming’s net revenue decreases for previous quarter

Continue Reading

Industry News

Graphyte Launches Intelligent Layouts

Published

on

By

Graphyte Launches Intelligent LayoutsReading Time: 1 minute

 

Personalisation platform Graphyte has launched its new product Intelligent Layouts, which enable the operators to deliver completely personalised web and app experiences for every customer.

With Intelligent Layouts, operators can automatically tailor every element of its offering to each player’s preferences, leading to an entirely unique mobile and desktop site layout for every customer.

“When we started Graphyte, our mission was to create the technology to change the one-size-fits-all model so prevalent in betting and gaming, to a one-size-fits-one model that seems so natural and obvious in other sectors like e-commerce. With Intelligent Layouts, we’ve built the capability for every operator to make the experience unique for every one of their customers,” Damien Evans, co-founder of Graphyte said.

“As an operator, you’ll know that every part of your site is tuned to the preferences of each player – all updated and managed in real time. As a player, the experience is transformed, the games and product categories you like to play (or those that you are very likely to enjoy) are always front-and-centre, and it doesn’t stop there: promotions you might have missed, new game launches and events and price boosts in sports can all be brought to the fore with Intelligent Layouts. It’s incredibly powerful and the early results we’ve seen from operator trials have been extraordinary,” Damien Evans added.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Graphyte Launches Intelligent Layouts

Continue Reading

Industry News

GVC Launches Skywind Content on Ladbrokes, Coral and Gala Brands

Published

on

By

GVC Launches Skywind Content on Ladbrokes, Coral and Gala BrandsReading Time: 1 minute

 

GVC has launched the gaming content of Skywind Group on its Ladbrokes, Coral and Gala brands. Earlier in the year, GVC launched the Skywind games on the bwin, PartyCasino and Sportingbet brands in selected regulated markets.

Through this expansion of the partnership, GVC’s customers will now be able to enjoy cutting edge content from Skywind’s huge portfolio of over 200 games. GVC will also integrate Skywind’s unique Bonus Coins reward, Daily, Must-Go and innovative Split jackpots among a range of other player engagement tools.

“We are delighted to extend our collaboration with Skywind who are a hugely valuable and innovative partner. Our mission is to provide our customers with nothing short of the most engaging and comprehensive portfolio of games available anywhere in the market. The launch of this exciting content is another important milestone on that journey,” Paris Anatolitis, GVC’s Marketing Director for Casino said.

“Partnering up with GVC is the natural step for us in entering regulated gambling markets around the world. In just over six months, we have managed to build a strong partnership, rolling-out our premium video slots games at bwin, PartyCasino and Sportingbet, across markets. I am excited that Ladbrokes, Gala and Coral players will now also be able enjoy the many proven engageable games we offer,” Oren Cohen Shwartz, Managing Director of Skywind said.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: GVC Launches Skywind Content on Ladbrokes, Coral and Gala Brands

Continue Reading

Industry News

Blackstone Group to Buy Bellagio and MGM Grand

Published

on

By

Blackstone Group to Buy Bellagio and MGM GrandReading Time: 1 minute

 

Blackstone Group is going to buy the Bellagio and the MGM Grand, two of the biggest properties owned by MGM Resorts. Blackstone is in talks with MGM Resorts regarding this.

After buying, Blackstone would then lease the property back to MGM Resorts, who would continue to run the day-to-day casino operations.

By selling the property to Blackstone, MGM would free up needed capital to build a $10 billion resort in Japan. Early estimates have MGM receiving roughly $7 billion for the two casino resorts.

Blackstone has made a splash in the gaming market over the last several years. It purchased the Cosmopolitan Las Vegas in 2014 for $1.73 billion and acquired Spain-based Cirsa Gaming Corp in 2018 for $1.8 billion.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Blackstone Group to Buy Bellagio and MGM Grand

Continue Reading
Advertisement
NSoft

Trending