Mohegan Gaming and Entertainment's planned outdoor theme park at its integrated resort in South Korea may face long delays and plans are being revised, local media reports.
Bobby Soper, the newly appointed international president at Mohegan Sun, talks to Asia Gaming Brief about the group’s vision for its resort in Incheon, South Korea and aspirations for a license in Nagasaki, Japan. He says the group’s entertainment-focused, non-gaming model will help to cushion Mohegan from the notorious volatility in South Korea’s foreigner-only casino market.
Mohegan Sun is confident that its entertainment-centric business model will help it succeed in South Korea’s notoriously volatile foreigner-only casino market.
Mohegan Sun's Inspire Entertainment Resort project in Incheon, South Korea, will be a long-term positive for the group, despite the risks, Moody's Investors Service said in a periodic review of the company's credit rating.
Mohegan Sun's project in Incheon South Korea has received government approval for an extension to its construction deadline and tweaks to the business plan.
Mohegan Gaming & Entertainment has announced that Bobby Soper has been appointed to the new role of International President, a role in which he will oversee all aspects of the firm’s efforts related to both the Inspire Korea Project in South Korea and the joint bid for an integrated resort license in Nagasaki with Oshidori International.
South Korea, which attracted significant interest when it first opened for foreign investors, is now seen as holding limited appeal unless the government agrees to relax its stance on local gaming.
South Korean IRs and casinos have received some positive news as companies try to recover from setbacks that were mainly the function of the Covid pandemic.
On deadline day for documents in Nagasaki’s RFP process, Mohegan Resorts and Entertainment has emerged as a partner for Hong Kong-listed Oshidori Holdings in what is shaping up to be Japan’s most hotly contested IR race.
Hong Kong-listed Oshidori International and Mohegan Gaming & Entertainment have teamed up to make a joint bid for a license to develop an IR in Nagasaki, Japan.
Mohegan Gaming & Entertainment has announced that it has priced its previously announced private offering of US$1.175 billion in aggregate principal amount of 8 percent, second priority senior secured notes due 2026, at an offering price of 100 percent of the principal amount. The offering is expected to occur on or about January 26.
Mohegan Gaming said its Project Inspire in South Korea is scheduled to open in early 2023 and it expects to close financing in early 2021.
Mohegan Gaming & Entertainment has announced its operating results for its fourth fiscal quarter ended September 30, 2020. Net revenues were US$294 million, a 29 percent decrease; income from operations was US$50.2 million, a 220 percent increase; and adjusted EBITDA was US$82.8 million, a 7.4 percent decrease.
Ambitious plans to build a cluster of IRs near Incheon Airport are beginning to hit roadblocks as Covid-19 disrupts financing options, according to the Korean media. There are three major facilities in the area: Paradise City, which is already open and operating; the under-construction Inspire Entertainment Resort led by Mohegan Gaming & Entertainment, and the […]
Mohegan Gaming & Entertainment has announced the promotion of Ray Pineault to the post of chief operating officer, pending regulatory approval. Pineault had previously been the president and general manager of Mohegan Sun, and it was only about seven months ago that he assumed the newly-created post of regional president, with overall responsibility for three […]
In an unexpected development, the Wakayama Prefectural Government announced that only one IR operator candidate, the Suncity Group, has applied to participate in its RFP process, a considerable setback for what had been one of the more competitive candidate locations. According to Wakayama’s notice, only two companies applied to join the RFP process, Suncity and […]
IR operators that have been hoping that Hokkaido would revive its IR bid appear to be concluding that it is time to throw in the towel. The first of the three interested operators to shut down its operation in Tomakomai, Hokkaido, was Mohegan, which shuttered its local office at the end of February. Now it […]
Mohegan Gaming & Entertainment has announced the appointment of Mark Rosa as senior vice-president and chief information officer responsible for all of the company’s properties worldwide. CEO Mario Kontomerkos commented, “As we continue on this path of strategic development, it has been our mission to build the best executive team in the industry. With iGaming […]
Mohegan Gaming & Entertainment reported a nearly 25 percent year-on-year advance in net revenues in the last quarter of the 2019 calendar year, mainly on the back of its acquisition of Niagara Resorts. Net revenues of US$399.1 million compared to US$319.5 million in the prior year period. Income from operations remained flat at US$43.4 million. […]
On November 29 of last year, Hokkaido Governor Naomichi Suzuki announced that his prefecture would not be participating in the IR race, citing the several years it would take to complete environmental preparations at the Tomakomai site. However, parts of the Japanese media are reporting that, in fact, not only is Hokkaido actually still in the race, but that they are being sized up as one of the three eventual winners.
Mohegan Gaming & Entertainment has announced the promotion of two executives in North America as its holdings continue to expand and diversify.
Mohegan Gaming and Entertainment says it has teamed up with South Korean conglomerate Hanwha Corp to build its Project Inspire resort.
In what was nearly an inevitable move, the 1st Japan IR Expo in Hokkaido, scheduled to be held next week, has been cancelled by its organizers in the wake of Hokkaido Governor Naomichi Suzuki’s decision not to go forward with an IR bid at Tomakomai city.
Hokkaido Governor Naomichi Suzuki is expected to announce on Friday that his prefecture will not be going forward with an IR bid, abruptly ending what had seemed to many the strongest IR initiative within Japanese regional markets.
Mohegan Gaming & Entertainment’s plans for its Inspire Korea IR in Incheon are coming into much clearer focus, especially after CEO Mario Kontomerkos outlined his firm’s vision to Korean journalists earlier this month.
Mohegan Gaming & Entertainment has promoted Tom Cantone, its top entertainment executive, to the new post of president of sports and entertainment.
Mohegan Gaming & Entertainment has announced the opening of its office in Tomakomai, Hokkaido, where it is one of several international IR operators hoping to build a regional IR.
Third-quarter revenues edged up slightly for Mohegan Gaming & Entertainment, rising 0.8 percent year-on-year to US$347.6 million, according to a report from the company. MGE is a developer and operator of integrated resorts, including Mohegan Sun in Uncasville, Connecticut, Inspire in Incheon, South Korea, and Fallsview Casino Resort in Niagara Falls Ontario. While total net […]
Even while the pro-IR political momentum in Hokkaido appears to have stalled, Mohegan is moving forward with its plans to bid for a Tomakomai IR, outlining its plans in a release to the Japanese media.
U.S. tribal casino operator Mohegan Gaming and Entertainment (MGE) has announced the appointment of Christian Block as Regional President for its properties in Canada and Korea. Mr. Block brings over 30 years of global gaming and integrated resort experience, with leadership roles domestically as well as in Europe, the Middle East, and Asia. He was […]
Mohegan Gaming & Entertainment, the company behind the Mohegan Sun in Connecticut and Inspire Korea in Incheon, recorded a fall in net income and revenues for the quarter ended March 31, 2019. Income from operations fell 60.4 percent to $22.2 million, due to one time accelerated depreciation as a result of the closure of Casino […]
Gathering at a hotel in Wakayama city, Wakayama Governor Yoshinobu Nisaka once again promoted the concept of building an IR at the Marina City location, this time explaining the contents of the revised plan released by the prefectural government last week.
Tribal casino operator Mohegan Gaming & Entertainment (MGE) has announced the appointment of Michael Silberling as SVP & COO and Tom Smock as SVP and general counsel of the company, rounding out the core executive leadership team MGE has been developing over the last 12 months. MGE said the latest appointments positions the company for […]
Mohegan Gaming & Entertainment saw its third-quarter results falling generally in-line with the prior-year period, according to a filing from the operator on Wednesday. Net revenues reached $344.9 million, down 1.5 percent from the prior-year period. MGE said the decrease in revenue was primarily due to a reduction in non-gaming revenues, caused by a weaker […]
US-tribal casino operator Mohegan Gaming & Entertainment (MGE) has announced the hiring of a new chief financial officer, Drew Kelley, taking the position at the start of June. The appointment of Kelley fills a position that has been left vacant since October when Mario Kontomerkos was promoted to CEO. According to a company SEC filing, […]
Tribal gaming operator Mohegan Gaming and Entertainment reported net income of $29.2 million for the first quarter ended December 31, 2017, compared to a loss in the prior year period. MGE said the swing to profit in the quarter reflected the impact of a $73.8 million loss on modification and early extinguishment of debt that […]
Tribal casino operator Mohegan Gaming and Entertainment (MGE) has announced the appointment of Mario Kontomerkos as its chief executive officer, effective October 16. Kontomerkos replaces Bobby Soper, and will oversee all day-to-day operations for MGE, including ongoing brand growth and continuing to ensure MGE delivers unmatched personalized services and memorable guest experiences. Kontomerkos has served […]
US tribal casino operator Mohegan Gaming and Entertainment says it is planning to break ground on its South Korean integrated resort project before the end of the year. “Looking internationally, the company is well into the planning stage of its Korean joint venture, Project Inspire, where we anticipate breaking ground before the end of calendar […]
South Korea wants to turn the area near Incheon International Airport into a version of Manila’s Entertainment City, but its vision is at risk from competition from Japan.
Hokkaido Governor Naomichi Suzuki's decision to drop out of the Japan IR race represents the collapse of the strongest IR initiative outside of the Kansai and Kanto regions.