Good Morning. Seek to INSPIRE. That’s what Mohegan is attempting to do with its new multi-billion-dollar project in Incheon. But expert Ben Lee points out that the road might be a bit more rocky than expected, with a drop off in Chinese VIP play and a remote location placing the operator at a disadvantage, coupled with its need to adapt its Western mentality to the region. And in Macau, September was a ‘month to forget’ say analysts at JP Morgan, as weather and slow visitation saw minimal play.
What you need to know
- Mohegan’s South Korean debut INSPIRE is facing headwinds, as Chinese play is unlikely to revamp, forcing the company to adapt: Ben Lee.
- September will be a ‘month to forget’ for Macau GGR due to the extreme weather events in the region: JP Morgan.
On the radar
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- Slot machines stopped working at MGM Resorts due to cyberattack.
AGB Intelligence
SOUTH KOREA
Under the Scope: INSPIRE facing a tough road ahead
American operator Mohegan could be facing some challenges as it forges ahead with its first Asian IR project INSPIRE, set to debut in October. Gaming expert Ben Lee says that the location is partially to blame, while the massive drop in Chinese VIP play will have a larger role in the property’s ramp-up. However, local Korean players with foreign citizenship could potentially boost traffic, exploiting a loophole in the system.
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