• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 1 September 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 wary on Korean IR cost blowouts but on track for 2023 launch

Ben Blaschke by Ben Blaschke
Fri 12 Aug 2022 at 06:15
Mohegan says wary on Korean IR cost blowouts but on track for 2023 launch
32
SHARES
804
VIEWS
Print Friendly, PDF & Email

US tribal gaming operator Mohegan Gaming & Entertainment says its US$1.6 billion South Korean integrated resort development, Inspire Entertainment Resort, remains on track for a late 2023 launch despite concerns over global supply chain issues and related cost blowouts.

Speaking on the company’s earnings call following release of its financial results for the June quarter, Mohegan CEO Ray Pineault acknowledged ongoing challenges in progressing the project but said he wasn’t expecting Inspire to experience any major delays to its current construction timeline.

“Obviously there is a challenging environment when you think about the [global] supply chain issues,” he said. “It’s something we are in constant contact with our general contractor in monitoring our pre-opening expenses and we continue to look at ways to make sure we keep that project on track and on budget.”

Construction of Inspire resumed in February after Mohegan completed financing and Pineault said progress since then has been rapid.

“The concrete structures for the three hotel towers continue to develop at various stages between Levels 8 and 12 and installation of the aluminum curtain wall has commenced,” he said.

“The steel structures for the casino, convention center, retail, pool dome and parking garage are at various stages of progress up to Levels 3 and 4. Level 3 of the arena has also been completed and Level 4 is underway.

“We anticipate a projected completion and opening in the latter part of 2023.”

Mohegan, which operates seven casinos across the United States and Canada, reported a 271% increase in net revenues to US$417.1 million and 134% increase in income to US$59.4 million in the June quarter, while Adjusted EBITDA set an all-time quarterly record for the company of US$120 million.

“This was the first full fiscal quarter of operations without COVID-19 restrictions at MGE Niagara Resorts since the pandemic first closed the property in March of 2020, and Mohegan Digital continues to execute a strategy that is focused on profitability,” said Pineault. “These results reflect the success of Mohegan’s diversification strategies.”

RelatedPosts

Asia market roundup

Asia market roundup

Thu 28 Aug 2025 at 12:26
10 Years Ago: Next Stop Japan

Osaka-based forum to study the potential impact of MGM’s Japan IR on Korea’s casino industry

Wed 27 Aug 2025 at 05:40
Korea’s Mohegan Inspire to open foreigner-only casino this Saturday

Mohegan recognizes US$77.6 million gain after losing operational control of Korean resort INSPIRE as discussions around exposure risks continue

Fri 15 Aug 2025 at 06:28
INSPIRE Entertainment Resort names Sangwon Lee as Chief Transformation Officer

INSPIRE Entertainment Resort names Sangwon Lee as Chief Transformation Officer

Mon 11 Aug 2025 at 11:48
Load More
Tags: IncheonInspire KoreaMohegan Gaming and EntertainmentRay PineaultSouth Korea
Share13Share2
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 – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

The Star Sydney’s casino license in limbo as final report from second inquiry handed to regulator

Son of Star’s largest shareholder joins Star Entertainment Group board as non-executive director

by Newsdesk
Sun 31 Aug 2025 at 09:16

Troubled Star Entertainment Group has announced the appointment of Bruce Mathieson Jr – the son of Australian pub baron and Star’s largest shareholder Bruce Mathieson – as a non-executive director of the company, subject to regulatory approvals. Mathieson Jr, currently...

Melco prices US$750 million Senior Notes offering

Melco Resorts parent Melco International back in the black with US$45 million 1H25 profit

by Ben Blaschke
Sun 31 Aug 2025 at 08:45

Melco’s Hong Kong-listed parent Melco International Development Ltd recorded a profit attributable to owners of the company of HK$350.8 million (US$45.0 million) for the six months to 30 June 2025, buoyed by the improved performance of its gaming and non-gaming...

Morgan Stanley: Macau’s peninsula IRs could claim some GGR share from closure of SJM’s satellites

SJM still in discussions over acquisition of Macau satellite casinos Ponte 16 and L’Arc

by Ben Blaschke
Sun 31 Aug 2025 at 08:43

SJM Holdings is still in discussions over a possible acquisition of two Macau satellite casinos as it continues preparations for the cessation of the city’s satellite industry, management has confirmed. The update formed part of the company’s earnings call late...

Macau hotel occupancy rate reached 91% in July, up 1.9 percentage points year-on-year

Macau hotel occupancy rate reached 91% in July, up 1.9 percentage points year-on-year

by Pierce Chan
Sun 31 Aug 2025 at 06:32

Macau’s hotel occupancy rate surpassed the 90% threshold in July, reaching 91% for a year-on-year gain of 1.9 percentage points, according to information from the Statistics and Census Service. Benefiting from the summer holiday peak season, all tourism metrics in...

Your browser does not support the video tag.


IAG

© 2005-2025
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

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English