INSPIRE Entertainment Resort, the multibillion-dollar integrated resort in Incheon, South Korea is pressing forward with its non-gaming and regional growth strategy despite a recent change in ownership, with a firm eye on Chinese and Japanese markets and a growing interest in medical tourism, Wade Howk, Chief Operating Officer of INSPIRE describes in a recent interview with AGB.
The recent transition in ownership — with Bain Capital exercising its rights to take control of MGE Korea Limited – the parent company of Mohegan INSPIRE Entertainment Resort in South Korea — has not disrupted day-to-day operations, he assures.
Bain Capital, an American private investment firm based in Boston, has been involved with the project since its early stages and effectively took control of the INSPIRE project from the Mohegan Tribal Gaming Authority by accelerating a mezzanine loan with MGE Korea Limited.
“For practical purposes, nothing changed,” said Howk. “The management team stayed the same, the employees stayed the same, the vendors, the regulators — everything remained status quo.”
Despite the operational changes, INSPIRE has reported promising performance metrics. Its non-gaming operations opened in November 2023, with its foreigner-only casino launching in February 2024. The property generated $63.5 million in net revenue in 4Q24.
According to Howk, who was in Macau recently to take part in the G2E Asia gaming conference, the resort has focused on building out its non-gaming offerings to attract regional travelers, especially during weekdays when casino traffic drops off due to South Korea’s locals-only gaming ban.
Among the new additions are health and beauty clinics — including dermatology, dental, and stem cell treatment centers — tapping into Korea’s reputation as a medical tourism hub. “That type of retail location is massively important for Chinese customers,” he explained. “K-beauty and skincare are huge draws. It’s cheap, accessible, and trusted.”
He noted that even though INSPIRE currently isn’t offering plastic surgery, the cost benefits in Korea remain a strong pull. “You can get full facial plastic surgery here for $10,000, compared to $50,000 elsewhere. That’s part of the larger medical tourism appeal, especially for Chinese travelers who can enter Korea on 72-hour transit visas.”
Tapping the Chinese and Japanese markets
Chinese visitors are not just coming for treatments — they’re also a key demographic for the resort’s entertainment offerings. INSPIRE recently hosted China’s most popular talk show, drawing large crowds and coinciding with Korea’s extended holiday period.
“It was three and a half hours long — I’m not used to that!” Howk said, laughing. “But it was incredibly effective. We sold out all hotel towers. Food and beverage venues were packed. It was a very strong weekend.”
The Japanese market also remains a priority. “China and Japan are the two areas we draw from,” he said. While the resort sees visitors from across Asia, “those are our two primaries.”
Despite concerns about economic slowdowns in the region, Howk says they’ve seen little evidence of tightened spending from those travelers. “We’re not really seeing any contraction in consumption,” he noted.
INSPIRE’s operations are shaped by the unique nature of South Korea’s casino environment — where only foreign passport holders can gamble (except for Kangwon Land). That limitation means Howk has had to rethink conventional strategies. In his previous roles with US regional operators, he can rely on local promotions to fill slow days.
“In Korea, my gaming customers are weekend customers,” he explained. “I’ve got this entire midweek I’ve got to fill, and I can’t just throw out daily promotions like I would in the US. That’s been a real change for me.”
To fill the gap, INSPIRE leans heavily on concerts, food and beverage events, and retail. But Howk cautions against assuming what visitors want — especially in a cross-cultural context.
“When I walk through properties, I remind myself I’m not the customer,” he said. “It’s a recipe for disaster to guess what the client wants. You have to ask them.”
That philosophy guides INSPIRE’s approach to entertainment. “We’ll go to our player development people and ask, ‘Can you sell this show?’ If they can, we book it. If not, there’s no point,” he said. “Sometimes, just three right players are enough to justify the whole concert.”
Looking ahead, Howk says the resort remains in a transitional ramp-up phase but is seeing “tremendous results” in hotel occupancy and gaming.
“We’ve got room to grow, but we’re on the right pace and direction,” he said.
As INSPIRE builds its identity beyond gaming, with offerings tailored to international guests and non-gaming experiences, Howk’s focus is clear: “We’re building a destination — not just a casino.”
