Mass-market and premium-mass gaming table drop at Mohegan Inspire Entertainment Resort (pictured) has nearly tripled since the casino at the complex opened in February. The property is close to Incheon International Airport, South Korea’s main air hub.
Such table drop increased by 181.2 percent, from US$30.3 million in February, to US$85.2 million by August.
The information was in an investor day presentation on Tuesday by the Mohegan Tribal Gaming Authority, which trades as Mohegan Gaming & Entertainment.
The group’s fiscal year runs to September 30. Mohegan Gaming reported net revenues of nearly US$504.2 million in the three months to June 30, up 9.2 percent quarter-on-quarter, and a 21.4-percent increase year-on-year.
Joseph Hasson, chief operating officer (COO) of Mohegan Gaming, noted in comments at Tuesday’s investor event that there was “plenty of additional penetration of the market still available” to Mohegan Inspire, notwithstanding that the property was “enjoying a terrific ramp” in its business.
Casino visits had risen 185.3 percent between February and August, from 10,771, to 30,729. The presentation also mentioned that the player rewards database had expanded 143.5 percent since the casino launched, from 38,216 data entries in February, to 93,075 in August.
Hotel occupancy had risen 31.4 percentage points in the period, from 58.3 percent, to 89.7 percent.
The COO said that as a venue with foreigner-only casino, Mohegan Inspire had two target audiences. For those that “live in the Greater Seoul area,” the non-gaming offering is a place that a “local crowd would escape to, for a terrific staycation”.
At the same time, the casino “appeals to the greater region of foreign gamblers,” as well as to those South Koreans within the country that have dual citizenship.
On the non-gaming side – which launched in November last year – Mr Hasson mentioned musical acts at its 15,000-capacity arena, the complex’s indoor water park, and shopping and dining, which he said was “mostly built out” and populated by tenants that could help to “co-brand the resort”.
The shopping and dining offer was anchored by the property’s ‘digital entertainment street’ with content that “cycles about every 15 minutes,” and has capacity for “two shows” that are also “changeable” allowing for season-themed content, said Mr Hasson.
This attracted crowds that gave retailers a chance to capture the consumer “pocket or wallet”, suggested the COO.
