{"id":777022933,"date":"2025-02-14T10:28:28","date_gmt":"2025-02-14T13:28:28","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777022933"},"modified":"2026-04-22T01:48:30","modified_gmt":"2026-04-22T04:48:30","slug":"bain-capital-seeks-to-appropriate-shares-in-mge-korea","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/bain-capital-seeks-to-appropriate-shares-in-mge-korea","title":{"rendered":"Bain Capital seeks to appropriate shares in MGE Korea"},"content":{"rendered":"\n<p>Bain made the move as Mohegan Gaming &amp; Entertainment posted a rise in revenue in Q1 results.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>US.-<strong> Mohegan Gaming &amp; Entertainment (MGE)<\/strong> has shared its financial results for the first quarter of financial year 2024\/2025. It posted <strong>net revenue of US$498.9m<\/strong>, up 17.3 per cent when compared to last year. Group-wide EBITDA reached US$85.1m, a rise of 7.6 per cent, while a net loss of US$85.9m is an improvement on the US$97m loss a year ago.<\/p>\n\n\n\n<p>The company attributed the growth in revenue to a strong quarter at Mohegan Sun in the US and continued growth from Mohegan Digital. <strong>Mohegan Inspire<\/strong>, the South Korean casino resort, posted net revenue of US$63.52m compared with US$5.1m a year earlier before the casino at the complex opened. <\/p>\n\n\n\n<p>However, the company appears to have been caught by surprise after, <strong>Bain Capital<\/strong>, the main lender to MGE Korea, today moved to take control of the shares of MGE Korea following a default. Ari Glazer, Mohegan\u2019s chief financial officer said the company is now considering its options.<\/p>\n\n\n\n<p>The venue recorded negative adjusted EBITDA of US$4.19m, an improvement on the US$10.9m EBITDA loss recorded in the prior-year period. In the previous quarter, Mohegan Inspire had posted negative EBITDA of US$6.9m.<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Presenting INSPIRE: THE MAKING OF\" width=\"625\" height=\"352\" src=\"https:\/\/www.youtube.com\/embed\/k3b2_0VWFok?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Gross slot revenue was US$3,977 and gross table revenue US$48,515. Hotel occupancy reached 71 per cent. <\/p>\n\n\n\n<p><strong>Ray Pineault<\/strong>, president and CEO of Mohegan, said: &#8220;During 2024, Mohegan rolled out a number of important initiatives as part of our strategy to become one of the premier global omnichannel resort operators. Our success in accomplishing these transformational objectives is a credit to our incredible team, and as I look forward to 2025, I\u2019m optimistic about the trends I see emerging within our omnichannel business and from the increased contributions by our non-gaming segments.&#8221;<\/p>\n\n\n\n<p>Mohegan Inspire held a soft opening on November 30, 2023 and a <a href=\"https:\/\/focusgn.com\/asia-pacific\/mohegan-inspire-entertainment-resort-holds-opening-event\" target=\"_blank\" rel=\"noreferrer noopener\">grand opening last March<\/a>. It has over 150 table games, 390 slot machines, and 160 electronic table games (ETG). It has a floor for VIP guests featuring a Guandong-style restaurant.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bain made the move as Mohegan Gaming &amp; Entertainment posted a rise in revenue in Q1 results.<\/p>\n","protected":false},"author":176,"featured_media":16790,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Mohegan Gaming & Entertainment reported a 17.3% increase in Q1 FY24\/25 net revenue to US$498.9m, driven by strong performance at Mohegan Sun and Mohegan Digital, despite a net loss of US$85.9m. Concurrently, Bain Capital, the primary lender to MGE Korea, has moved to take control of MGE Korea shares following a default, prompting Mohegan to evaluate its strategic options regarding the Mohegan Inspire integrated resort in South Korea.","focusai_entities":"Mohegan Gaming & Entertainment, MGE, Bain Capital, MGE Korea, Mohegan Sun, Mohegan Digital, Mohegan Inspire, Ari Glazer, Ray Pineault","focusai_location":"US, South Korea","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Inspire Default Impact","query":"What are the specific terms of the MGE Korea default, and how will Bain Capital's control impact the operational and financial structure of Mohegan Inspire going forward, particularly concerning its B2C licensing and governance frameworks?"},{"label":"MGE Strategic Options","query":"Given the default at MGE Korea, what are Mohegan Gaming & Entertainment's revised strategic priorities for its global omnichannel expansion, particularly concerning future capital allocation, market entries, and the integration of its gaming verticals?"}],"footnotes":""},"categories":[16338,163],"tags":[24132],"class_list":["post-777022933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-mohegan-gaming-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777022933"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022933\/revisions"}],"predecessor-version":[{"id":777022977,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022933\/revisions\/777022977"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16790"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777022933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777022933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777022933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}