Mohegan Gaming faces a liquidity crunch that could threaten its future as a “going concern”. The crisis is related to its new Inspire resort in South Korea.
In its fourth-quarter and fiscal 2024 report, released on New Year’s Eve, Mohegan Gaming had good news and bad news.
First, the good news. Company-wide, the Uncasville, Connecticut tribal operator saw net revenue of $1.9 billion (£1.528 billion/€1.844 billion) for fiscal 2024. That’s up 13% year-on-year and a new record.
Chief financial officer Ari Glazer attributed the upswing “primarily to continued growth in Mohegan Digital and revenue from Mohegan Inspire”. The latter, a $1.6 billion integrated resort (IR) in Incheon, South Korea, opened in March….
