Mohegan’s Korean integrated resort INSPIRE will likely take “a few more quarters” to achieve positive EBITDA, but sufficient liquidity means the Mohegan group will not need to provide any further financial support, according to CBRE Credit Research.
In a note following a Mohegan Investor Day this week, CBRE analysts Colin Mansfield and Connor Parks said the property’s ramp is tracking slightly better than they had initially expected, with lifetime revenue at US$168 million since the property opened last November. The casino launched later in early February.
Inside Asian Gaming also reported earlier this week on some KPIs released by Mohegan during the Investor Day, including a three-fold increase in casino visitation from 10,771 in February to 30,729 in August and hotel occupancy climbed from 58.3% to 89.7% over the same period.
