• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 15 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Mohegan says construction of Inspire Korea back underway

Ben Blaschke by Ben Blaschke
Thu 10 Feb 2022 at 04:49
Damage Control – Korea’s COVID calamity

An artist’s impression of Mohegan’s Inspire Korea integrated resort in Incheon.

76
SHARES
1.9k
VIEWS
Print Friendly, PDF & Email

US tribal casino operator Mohegan Gaming & Entertainment says it has recommenced construction of its South Korean integrated resort, Inspire Korea, after completing financing late last year.

As previously reported by Inside Asian Gaming, Mohegan confirmed the completion of financing in November with the full US$1.55 billion in aggregate funding comprising US$575 million in equity, a KRW1.04 trillion (US$890 million) finance loan from raised through a three-bank Korean consortium – KB Securities, NH Investment & Securities and Hana Financial Investment – and KRW100 billion (US$85.5 million) from the General Contractor, Hanwha Engineering & Construction Corp.

Subsequent to completion of the financing, Inside Asian Gaming interviewed Mohegan Gaming and Entertainment International President Bobby Soper in December 2021.

As part of its overnight results announcement for the three months to 31 December 2021, Mohegan said Hanwha Engineering & Construction Corp has “remobilized and recommenced construction work on site” including structural steelwork and below grade utility construction plus infrastructure related work such as utilities and roadways to the site. The procurement of major trades and long lead items is also in progress.

Mohegan had stated upon securing final financing in November that it is hoping to open Inspire Korea within the first half of 2023.

The development is slated to include three hotel towers, an arena, a foreigner-only casino, dining, retail, convention and entertainment options, a year-round indoor water dome experience, and an outdoor family park.

It will become the second integrated resort to open in Incheon after Paradise City – the latter being a joint venture partnership between Korea’s Paradise Co and Japanese gaming firm Sega Sammy Holdings.

The company said on a call with analysts overnight that the resumption of construction “demonstrates MGE’s dedication to growth and diversification.”

Mohegan, which operates seven casinos across the United States and Canada, reported a net loss of US$11.7 million for the December quarter, narrowed from a US$26.6 million loss a year earlier. Net revenues rose 74.2% to US$402.0 million and Adjusted EBITDA by 140.8% to US$97.4 million.

RelatedPosts

Grand Korea Leisure’s June casino sales down 68% on 2019 levels

Grand Korea Leisure continues steady rise with casino revenues of US$22.4 million in May

Wed 4 Jun 2025 at 23:50
Korea recovery continues as Paradise Co sees June revenue soar 25.9%

Korea’s Paradise Co enjoys best month of the year in May as casino revenues hit US$61 million

Wed 4 Jun 2025 at 23:43
Jeju Dream Tower casino sales down 7.4% in March

Korea’s Jeju Dream Tower continues growth spurt as May gaming revenues hit US$30 million

Mon 2 Jun 2025 at 18:56
Kangwon Land GGR up 3.8% year-on-year on higher VIP play

Kangwon Land to support local SMEs in entering global slot machines and gaming technology market

Wed 28 May 2025 at 06:09
Load More
Tags: foreigner-only casinosIncheonInspire Koreaintegrated resortMohegan Gaming and EntertainmentSouth Korea
Share30Share5
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo
568Win

Related Posts

Greg Hawkins named Acting COO of Bloomberry and Solaire following Arasi departure

Greg Hawkins takes on permanent role as President and COO of Solaire parent Bloomberry Resorts Corp

by Ben Blaschke
Fri 13 Jun 2025 at 09:31

Bloomberry Resorts Corp, operator of the Philippines’ leading integrated resort brand Solaire, has confirmed the appointment of Greg Hawkins as Director, President and Chief Operating Officer at a board meeting held earlier this week. Hawkins had previously served as Acting...

Inside Thai IRs

Sands China completes full redemption of US$1.63 billion in notes due 2025

by Newsdesk
Fri 13 Jun 2025 at 05:57

Sands China Ltd, the Macau-facing subsidiary of Las Vegas Sands Corp, has completed full redemption of US$1.63 billion in outstanding notes due 2025. In a filing, the company confirmed that the notes were redeemed in full on 11 June and...

NSW state government moves to ban political donations from any clubs offering gambling

Report finds regulation of NSW gaming machines ineffective in supporting harm minimization outcomes

by Ben Blaschke
Fri 13 Jun 2025 at 05:45

A report by the NSW Auditor-General into the regulation of gaming machines has found that efforts by the state’s regulatory bodies to oversee the industry are not supporting harm minimization outcomes effectively. The detailed 47-page report, published Thursday, listed a...

Macau International Airport to expand into Taipa Ferry Terminal as passenger numbers keep rising

Macau to open up aviation market to more airlines in February 2026

by Pierce Chan
Fri 13 Jun 2025 at 04:32

The Macau Legislative Assembly (AL) has completed discussions on a new aviation bill, which is expected to take effect in February 2026. At that time, Macau’s aviation market will become fully open and the exclusive operating system no longer in...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English