North American gaming operator Mohegan says that it’s on target to open its first Asian casino – INSPIRE – within the last quarter of this year.
The property was at 70 percent completion at the end of April, with construction ‘tracking to plan’.
The group notes that the property will feature 1,200 hotel rooms, a 15,000-seat arena and a foreigner-only casino, alongside a waterpark and other entertainment options.
The group announced the update alongside its financial results, noting it had recorded a net loss of $9.6 million and adjusted EBITDA of $102.1 million.
This comes on the back of revenues of $405.84 million, a 13.2 percent yearly increase.
Casino revenue totaled $285.45 million, a 9.1 percent yearly increase.
The group notes that it’s revenue from Mohegan Casino Las Vegas were ‘relatively flat compared with the same period in the year prior’.
The group in February pledged some $14.5 million in additional funding for the Korean IR, with an overall investment estimated at $5 billion.
The group has estimated $2 billion for the first stage of development, with plans to open its non-gaming offerings in October and its casino three months after that.
AGB sat down for a talk with the group’s COO – Chen Si – to discuss how the group is shaping up the new property and which target markets it’s hoping to attract.
