Dec 28, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck, World  
United States-based tribal casino operator Mohegan Gaming and Entertainment is now referring to the opening of its South Korea casino resort, Inspire (pictured in an artist’s rendering), as due in “early 2023”.
In August, the group had mentioned to GGRAsia it anticipated the opening in the “second half of 2022”.
The reference to 2023 was in an investor presentation made available last week, and which focused on the company’s results for the quarter ending on September 30. The document also mentioned financing for the South Korea scheme was due to close in “early 2021”.
Inspire Entertainment Resort – also known as Inspire Korea – at Incheon, South Korea, close to that country’s main international air hub, has been described by its promoter as a multiphase, multibillion-U.S. dollar scheme.
The earnings deck mentioned that the Covid-19 pandemic had “slowed progress” in the construction of Inspire Korea.
In the quarter to September 30, Mohegan Gaming – which has several properties in the United States market, including its flagship venue Mohegan Sun, in Connecticut – reported net revenues down 29.0 percent year-on-year, to US$294.0 million, from US$414.0 million.
Adjusted earnings before interest, taxation, depreciation and amortisation fell by 7.4 percent, to just under US$82.8 million from US$89.4 million in the prior-year quarter, said the earnings presentation.
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”Once Solaire North is fully ramped up, and both properties are generating a certain expectation that we have on cash flow… then we will probably launch the Paniman [casino] project”
Enrique Razon
Chairman and chief executive of Bloomberry Resorts