• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 10 July 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
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
No Result
View All Result
IAG
No Result
View All Result

Mohegan INSPIRE generates US$36 million in net revenues in 1Q24 as operator eyes EBITDA breakeven

Ben Blaschke by Ben Blaschke
Fri 10 May 2024 at 05:26
Mohegan to complete funding for Korean integrated resort INSPIRE by September

Mohegan INSPIRE in Incheon, Korea

38
SHARES
946
VIEWS
Print Friendly, PDF & Email

Mohegan Tribal Gaming Authority’s recently opened Korean integrated resort, Mohegan INSPIRE, recorded net revenues of US$35.9 million in the first three months of 2024, with the company outlining its confidence of reaching EBITDA break-even in the months ahead.

Releasing its 1Q24 financials overnight, Mohegan revealed an Adjusted EBITDA loss of US$24.1 million in Korea for the quarter, impacted by opening expenses linked to labor and marketing costs.

However, it also outlined a positive ramp trend in recent months, particularly since the opening of Mohegan INSPIRE’s casino on 3 February and the property’s Grand Opening ceremony on 5 March.

“The resort is still in its ramp up phase but we are pleased with the trends we’re seeing in April and May,” explained Mohegan’s Chief Operating Office, Joe Hasson during the company’s earnings call.

“What we see right now is breakeven EBITDA on the near horizon measured month to month. Of course, during the initial ramp, like any resort of that caliber, we have to spend both labor and marketing dollars in order to give the ramp and the launch the right umph and the right velocity, but again, near-term horizon, we see on a month-to-month basis breakeven approaching in the immediate future.”

Asked to provide some color around where the ramp was being seen most clearly, Hasson replied that there was positive momentum in both the foreigner-only casino and non-gaming segments, although he did not break down the exact revenue mix.

“It’s a bit of a favorable blur as we see the receptive reactions from consumers that are finding their way to that integrated resort, so as we look forward, if we are on a ramp similar to what we’ve seen so far, we are very confident about being able to reach our targets.”

Mohegan President and CEO Ray Pineault added that the positive reception was being seen “not only from the local market and in South Korea, but we’re actually seeing receptivity in China and Japan and Taiwan as well. We’re really encouraged by the visitation we’re seeing across the region.”

Group-wide, Mohegan reported the highest quarterly net revenue in its history at US$461.7 million, up 13.8% year-on-year due primarily to the addition in revenue from Mohegan INSPIRE and continued growth in its US digital segment.

However, consolidated Adjusted EBITDA decline by 17.8% to US$84.0 million, also due to operating costs related to the opening of Mohegan INSPIRE.

RelatedPosts

Grand Korea Leisure books US$11.4 million profit in 1Q25 on higher casino sales, better margins

Grand Korea Leisure reports sequential gain but year-on-year decline in casino revenue to US$25.5 million

Fri 4 Jul 2025 at 04:52
Jeju Dream Tower casino sales down 7.4% in March

South Korea’s foreigner-only casinos showing renewed vigor as Jeju Dream Tower sets new monthly drop, visitor records

Thu 3 Jul 2025 at 05:41
South Korea’s Paradise reports record drop at Paradise City but low hold hits group’s bottom line

Korea’s Paradise Co keeps rising through 2025 as casino revenues exceed US$60 million in June

Wed 2 Jul 2025 at 19:19
Abbiati targeting North and South American markets via strategic alliance with Hawkins Holdings

Abbiati targeting North and South American markets via strategic alliance with Hawkins Holdings

Wed 2 Jul 2025 at 09:39
Load More
Tags: casinointegrated resortMohegan InspireMohegan Tribal Gaming AuthorityrevenueSouth Korea
Share15Share3
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 – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

PhilWeb falls to US$10.5 million loss in FY24 on asset impairments

Century Entertainment signs joint venture agreement to develop gaming system platforms for Asia-Pacific markets

by Newsdesk
Thu 10 Jul 2025 at 06:22

Century Entertainment International Holdings Ltd has announced the formation of a joint venture with Philippines-based World Platinum Technologies Inc (WPT) with the goal of conducting research, development, marketing and sales of WPT’s gaming system platforms and related content in the...

Macau GGR hits new post-pandemic high of MOP$20.8 billion in October

Citi: Macau industry EBITDA likely to have grown by 3% in 2Q25

by Ben Blaschke
Thu 10 Jul 2025 at 05:46

Investment bank Citigroup believes the 8% year-on-year growth in gaming revenues generated by Macau’s casino operators in the June quarter will translate to 3% industry EBITDA growth – somewhat tempered by an unfavorable revenue mix due to a rebound in...

Thailand’s casino bill officially on hold after House votes to remove it from agenda

Thailand’s casino bill officially on hold after House votes to remove it from agenda

by Ben Blaschke
Thu 10 Jul 2025 at 05:42

Thailand’s controversial casino bill is officially off the House agenda after members voted in favor of its withdrawal on Wednesday. Local media outlet The Nation reported that the vote took place after two hours of debate, with 253 votes in...

Macau government says ratio of local staff employed by concessionaires in middle and senior positions now at 90%

Macau government says ratio of local staff employed by concessionaires in middle and senior positions now at 90%

by Pierce Chan
Wed 9 Jul 2025 at 19:46

Around 90% of the middle and senior staff of Macau’s six concessionaires are now local employees, the government has revealed. According to information made public by Secretary for Economy and Finance Tai Kin Ip during a plenary session of the...



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

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
  • 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.

  • English