Mohegan Announces Fourth Amendment to Credit Agreement and BIA Loan Agreement

UNCASVILLE, Conn., Jan. 2, 2025 /PRNewswire/ -- On December 20, 2024, Mohegan Tribal Gaming Authority ("MTGA," "Mohegan," "we" or "us") entered into the Fourth Amendment (the "Amendment") to that certain Credit Agreement dated as of January 26, 2021, as amended by the First Amendment dated as of May 31, 2022, the Second Amendment dated as of February 14, 2023, and the Third Amendment dated as of October 12, 2023, (collectively, the "Existing Credit Agreement"), by and among MTGA, The Mohegan Tribe of Indians of Connecticut, Citizens Bank, N.A., as administrative agent and the other lenders party thereto.

In connection with the Amendment, MTGA has amended certain provisions of the Existing Credit Agreement to remove a prohibition on going concern language in our audited financial statements. A complete copy of the Amendment may be found here.

Separately, on December 27, 2024, MTGA effectuated a corresponding amendment (the "BIA Loan Amendment") to that certain Loan Agreement dated as of September 28, 2018, (including the First Advance Loan Agreement dated as of October 30, 2018, and the Second Advance Loan Agreement dated as of October 30, 2018), as amended by the First Amendment dated as of September 2, 2020, the Second Amendment dated as of January 26, 2021, and the Third Amendment dated as of May 1, 2023, (collectively, the "Existing BIA Loan Agreement"), by and among MTGA, KeyBank National Association, as administrative agent, Native American Bank National Association, as guarantee agent and co-lead lender and the other lenders party thereto.

The BIA Loan Amendment removes a prohibition in the Existing BIA Loan Agreement on going concern language in our audited financial statements.

About Mohegan
Mohegan is the owner, developer, and manager of premier entertainment resorts in the United States, Canada, and Northern Asia. Mohegan's U.S. operations include resorts in Connecticut, Pennsylvania, and Nevada; Canadian operations are based in Niagara Falls, Ontario; and Mohegan Inspire is located in Incheon, South Korea. The brand's iGaming division, Mohegan Digital, provides cutting-edge online gaming solutions to Mohegan's loyal fan base and meets the digital needs of customers on a global scale. Mohegan is owner and operator of Connecticut Sun, a professional basketball team in the WNBA. For more information on Mohegan and its properties, please visit www.mohegangaming.com/.

Contact:
Joffre Wells
Vice President of Capital Markets, Investor Relations & Corporate Treasurer
Mohegan
(860) 862-9135
[email protected]

SOURCE Mohegan