Revenue during the quarter went down marginally by 0.66 percent to $330.99 million from $333.19 million in the previous year period. Gross margin for the quarter contracted 361 basis points over the previous year period to 39.18 percent. Total expenses were 85.07 percent of quarterly revenues, up from 78.97 percent for the same period last year. That has resulted in a contraction of 610 basis points in operating margin to 14.93 percent.

Operating income for the quarter was $49.42 million, compared with $70.08 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $69.14 million compared with $83.64 million in the prior year period. At the same time, adjusted EBITDA margin contracted 421 basis points in the quarter to 20.89 percent from 25.10 percent in the last year period.

“We were encouraged by the strong gaming and non-gaming volumes underlying our business fundamentals at our flagship property Mohegan Sun during the quarter, which were driven by the opening of the new Earth Hotel tower and the property’s 20th anniversary celebration,” said Robert J. Soper, president and chief executive officer of the Authority. “Mohegan Sun’s profitability in the quarter was impacted by lower than expected table game hold percentage, but after adjusting for this, profit would have grown year-over-year. Looking forward, table game hold percentage has reverted to normal, business volumes look solid and we are only months away from the grand opening of ilani Casino Resort outside of Portland, Oregon.”