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Mohegan Tribal Gaming Authority announces preliminary second quarter fiscal 2014 operating results21 April 2014UNCASVILLE, Connecticut -- (PRESS RELEASE) -- The Mohegan Tribal Gaming Authority, or the Authority, the owner and operator of Mohegan Sun in Uncasville, Connecticut, and Mohegan Sun at Pocono Downs in Wilkes-Barre, Pennsylvania, announced today the preliminary operating results for its second quarter ended March 31, 2014. Preliminary consolidated operating results for the second quarter ended March 31, 2014 (unaudited): Based on preliminary analysis performed for the quarter ended March 31, 2014, the Authority anticipates the following operating results: Net revenues are expected to range between $310.3 million and $323.0 million, a decrease of between 5% and 1% compared to the second quarter of fiscal 2013 Gaming revenues are expected to range between $272.8 million and $284.0 million, a decrease of between 6% and 3% compared to the second quarter of fiscal 2013 Gross slot revenues are expected to range between $189.8 million and $197.5 million, a decrease of between 8% and 4% compared to the second quarter of fiscal 2013 Table games revenues are expected to range between $80.5 million and $83.8 million, ranging between a decrease of 3% and an increase of 1% compared to the second quarter of fiscal 2013 Non-gaming revenues are expected to range between $59.3 million and $61.8 million, an increase of between 7% and 12% compared to the second quarter of fiscal 2013 Adjusted Property EBITDA, a non-GAAP measure described below, is expected to range between $74.0 million and $77.0 million, a decrease of between 12% and 8% compared to the second quarter of fiscal 2013 Adjusted EBITDA, a non-GAAP measure described below, is expected to range between $64.9 million and $67.5 million, a decrease of between 17% and 13% compared to the second quarter of fiscal 2013 Income from operations is expected to range between $44.2 million and $46.0 million, a decrease of between 21% and 18% compared to the second quarter of fiscal 2013 Net income is expected to range between $9.3 million and $9.7 million, a decrease of between 25% and 22% compared to the second quarter of fiscal 2013 Interest expense, net of capitalized interest, is expected to range between $35.6 million and $37.0 million, a decrease of between 16% and 13% compared to the second quarter of fiscal 2013 These preliminary operating results are subject to the completion of customary closing procedures by the Authority and may change. The Authority intends to report its final second quarter fiscal 2014 operating results in late April 2014. About the Authority The Authority is an instrumentality of the Mohegan Tribe of Indians of Connecticut, or the Tribe, a federally-recognized Indian tribe with an approximately 544-acre reservation situated in southeastern Connecticut, adjacent to Uncasville, Connecticut. |