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Korea’s Mohegan INSPIRE reports US$62 million in net revenues in September quarter

Ben Blaschke by Ben Blaschke
Wed 1 Jan 2025 at 09:05
Korea’s Mohegan Inspire reports net revenues of US$101 million since opening, volumes on the rise

The casino at Mohegan Inspire

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Korea’s Mohegan INSPIRE generated net revenues of US$62.2 million in the three months to 30 September 2024, slightly higher than the US$60.1 million reported in the June quarter as the property continues its slow but steady ramp. Adjusted EBITDA loss of US$6.93 million was also narrowed from US$7.55 million.

According to information from operator Mohegan Gaming, the improvement in revenues was reflected in better metrics across the board in the September 2024 quarter, with casino visitation hitting new highs of 30,729 in August and 32,043 in September. Hotel occupancy also hit an all-time high of 89.7% in August although fell away to 77.2% in September.

Likewise, mass and premium mass table drop reached US$88.9 million in August before dropping back to US$81.3 million – still Mohegan INSPIRE’s second best month – while the Player Rewards Database climbed to 101,534 in September.

As previously reported by IAG, Mohegan INSPIRE held a soft opening in November 2023 while the casino itself launched on 3 February 2024. The company said total net revenues generated across the property between opening and 30 September 2024 were US$163.3 million.

Group-wide, Mohegan generated net revenues of US$497.7 million in the September quarter, up US$53.4 million year-on-year primarily due to Mohegan INSPIRE and continued growth in Mohegan Digital. However, opening costs combined with low table hold in Korea saw consolidated Adjusted EBITDA fall by US$6.8 million to US$81.3 million.

Nevertheless, the contribution of Mohegan INSPIRE helped the company record the highest annual net revenues in its history in the year to 30 September 2024, up 13.0% year-on-year to US$1.9 billion.

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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.

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