Investor Presentaiton
MTGA Financial Summary Overview
• Growing Adjusted EBITDA and margins have helped drive strong free cash flow generation
•
Cash Flow for Financial Debt Service at $241 million is at the highest level ever
FYE September 30,
2011A
2012A
2013A
2014A
2015A
($ in millions)
As Adjusted
LTM 3/31/16 2
(2)
Net Revenues:
Mohegan Sun
$1,115
Pocono Downs
303
$1,084
315
$1,042
$995
297
297
$994
295
$1,019
301
Corporate and Other
1
1
3
9
Net Revenues
$1,418
$1,399
$1,340
$1,293
$1,292
$1,329
Adjusted EBITDA:
Mohegan Sun
Pocono Downs
Corporate and Other
Adjusted EBITDA
Adjusted EBITDA % Margin
$285
$270
$281
$251
$284
$303
52
59
57
51
58
59
(15)
(15)
(24)
(36)
(22)
(16)
$322
$314
$313
$266
$320
$346
22.7%
22.4%
23.4%
20.6%
24.8%
26.0%
Maintenance and Development Capex
(46)
(44)
(66)
(33)
(30)
(52)
Distributions to the Tribe
(47)
(53)
(50)
(50)
(50)
(53)
Relinquishment Payments
(55)
(54)
(51)
(49)
(25)
(1)
Cash Flow for Financial Debt Service
$173
$163
$146
$134
$215
$241
(1) Cash flow for Financial Debt Service defined as Adj. EBITDA minus relinquishment payments, maintenance and development
capital expenditures and distributions to the Tribe
(2) Adjusted for anticipated FY16 increases in maintenance and development capital expenditures and distributions to the Tribe
Mohegan Sun
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