Mohegan Tribe Loses Control of $1.6 Billion South Korea Casino to Bain Capital

1 articles · Updated · The New York Times · Aug 4

Less than a year after Inspire Entertainment Resort opened in 2024, Mohegan lost control of the Incheon casino project after missing a performance target, leaving Bain Capital in charge.
The setback caps a nearly decade-long push in which the tribe spent $1.6 billion building a resort near Seoul with three five-star hotels, a 15,000-seat arena and a large water park.
Mohegan had pitched Inspire as its first casino venture outside North America, aiming to capture Asian high-end gambling demand tied partly to Chinese players.
The loss underscores the risks of challenging Macau’s dominance in the region, where Chinese gamblers spent $28 billion in 2024, even for an operator whose Connecticut flagship generated $260 million last year.