Mohegan Recognized by Forbes as the Best Connecticut Employer

Mohegan has been recognized on the “best-in-state employers” list of 2022 by Forbes. Several important aspects were taken into consideration while the evaluation was being made. The Forbes list of best employers was announced on August 24. 

The Survey Included Samples From 70,000 Americans 

The survey featured samples from 70,000 Americans that are working for companies that employ 500+ people. Some of the aspects that were taken into consideration when the evaluations were being made included direct and indirect employee recommendations. 

They were asked to evaluate other industry companies and rate how likely they are to recommend their employers to friends and family. 

Ray Pineault, the president and CEO of Mohegan, stated that Mohegan is proud to receive such accreditation in Connecticut, a state where the casino recently launched Aristocrat machines. He added that the work culture at the company created a strong and healthy environment for its team members and the generations to come. 

Pineault touched down on Mohegan’s “Spirit of Aquai” philosophy as he noted that this is an ancient philosophy that has been infused at all levels within Mohegan. It allows employees to create a welcoming atmosphere and thus, ensure “outstanding hospitality and guest experience.” 

The Forbes list aims to capture the way different companies are perceived throughout the country. The best-in-state employer’s list featured 1,382 employers, 246 of which were ranked in multiple states. The top-ranked company was the U.S. Department of State as it was ranked the best in 31 states. Target and Home Depot trailed behind the U.S. Department of State as they made the list in 29 states. 

Mohegan’s Revenue Increased Massively in Q3 

At the start of August, Mohegan released its Q3 fiscal report. The revenue for the three months ending on June 30, reached $417.1 million, which was a 27.1% increase YoY. The revenue in the same period in 2021 was $328.2 million. 

Moreover, the company’s income from operations increased by 40.7%, reaching $90.1 million. In a statement, Pineault noted that the success of the company is a reflection of the diversification strategies. 

Apart from the gaming revenue, Mohegan saw an increase in revenue across several other sectors. Food and beverage revenue increased 71% YoY as it reached $35.6 million. Hotel operations’ revenue was $30.3 million, which is a 36% YoY increase. 

Finally, the resort’s revenue from retail, entertainment, and others increased to $57.2 million. Adjusted EBITDA reached $120 million, which was the highest in the company’s history. Mohegan’s CFO, Carol Anderson, stated that the adjusted EBITDA margin declined due to the “reintroduction of some lower margin non-gaming amenities” when compared to 2021.