MGE Becomes Service Provider to Casino Niagara- Experiences Revenue Spurts Like Never Before
Mohegan Gaming and Entertainment (MGE) that began its operations in the year 1996, as a mere gaming destination in southeastern Connecticut, has now come up a long way, thereby expanding its operations at the premier location near the Niagara Falls. Most recently, MGE has expanded its international assignments when it signed a contract in September 2018, to be the service provider for the Casino Niagara and the Fallsview Casino Resort. Now it has over 10,000 seat Arena, 90 Plus shops, 2 deluxe hotel towers, celebrity chef bars, and restaurants along with two expansive casinos near the Niagara Falls.
The sudden revenue spurt came from MGE Niagara Resorts, built under the management contract signed by MGE in September 2018. The extravagant resort is located on the Canadian side of Niagara Falls and is owned by the Ontario provincial government. As per a recent report released by MGE, its net revenue has hit $399 million during the last 3 months of 2019, after the resort began its operation. The stat is 24.9% higher as compared to the previous years’ revenues.
However, the home state casino of MGE at Connecticut, named Mohegan Sun casino, continues to be the company’s top earner despite the Niagara Casino’s massive revenue spurt in the last quarter of 2019. The Mohegan Sun Casino reported revenue of $243.3 million in the last quarter, although this decreased by 3.7% as compared to previous years. MGE put the blame of such decline on its competitor Wynn Resorts’ Encore Boston Harbor that opened in the neighboring Massachusetts city recently.
