Creditors who helped finance Mohegan Gaming & Entertainment’s (MGE) South Korea resort have demanded immediate repayment of the loans, or see the company forfeit its stake in Mohegan Inspire.
MGE chief financial officer Ari Glazer shared the development on Thursday (13 February), during a fourth-quarter earnings call.
“Just a few hours ago, we received notice from the agent for the lenders to MGE Korea Limited, the parent company of Inspire, that they have accelerated the debt,” Glazer said.
Invoking the acceleration clause could allow principal lender Bain Capital to “take certain remedies, including appropriation of the shares of MGE Korea Limited”, Glazer continued. “We’re evaluating the propriety of these…
