Mohegan Tribal Gaming Authority (MTGA) has reported a 21.24 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $44.21 million in the quarter, compared with $36.46 million for the same period last year.

Revenue during the quarter went up marginally by 2.05 percent to $346.39 million from $339.43 million in the previous year period. Gross margin for the quarter expanded 95 basis points over the previous year period to 44.46 percent. Total expenses were 78.98 percent of quarterly revenues, up from 78.52 percent for the same period last year. That has resulted in a contraction of 46 basis points in operating margin to 21.02 percent.

Operating income for the quarter was $72.81 million, compared with $72.90 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $94.84 million compared with $92.92 million in the prior year period. At the same time, adjusted EBITDA margin was almost stable in the quarter to 27.38 percent when compared with the last year period.

"We are pleased to report another quarter of strong operating results and year-over-year growth," said Robert J. Soper, president and chief executive officer of the Authority. "Our fiscal fourth quarter capped off an equally strong fiscal year, highlighted by increased consolidated profit and profit margin, led by Mohegan Sun which generated its highest operating cash flow since 2008. With a successful comprehensive refinancing behind us, the opening of our new 400-room Earth Hotel and the grand opening of ilani Resort approximately two quarters away, we look forward to even stronger financial performance going forward."