1 day ago · Mohegan concluded: “We do not believe the change-of-control pursued by Bain Capital is in the best interests of the property, its team members and customers, other lenders and various key stakeholders.” Mohegan INSPIRE opened in February 2024 and contributed revenue of $63.5 million in Mohegan’s fiscal first quarter ended 31 December.

3 days ago · Bain Capital has taken over operational control of INSPIRE Entertainment Resort in South Korea from U.S. tribal casino operator Mohegan, following a loan covenant default by the resort’s parent company, MGE Korea Ltd. . The move comes after Mohegan defaulted on a $275 million Korea Term Loan, triggering Bain Capital, its principal lender, to exercise its rights over MGE Korea Ltd.

4 days ago · United States-based private investment firm Bain Capital has taken over the operations of the Inspire casino resort in South Korea, according to a statement sent on Monday to GGRAsia. The property was developed - and had until now been operated - by U.S.-based Mohegan Tribal Gaming Authority.“Bain Capital has assumed operational control of …

5 days ago · Bain Capital has been a trusted partner and investor since the early development stages of the INSPIRE project, maintaining a strong and collaborative relationship with us,” said a ...

3 days ago · Bain Capital confirmed earlier this week that it had assumed control of INSPIRE after appropriating Mohegan’s shares in the resort’s operating entity, MGE Korea Ltd. Mohegan last month revealed that it was in default under the terms of a US$275 million “Korea Term Loan” for the US$1.6 billion Korean IR and was in discussions with ...

3 days ago · Uncasville, Connecticut, February 18, 2025 – Mohegan Tribal Gaming Authority (“Mohegan,” “we” or “our”) confirmed that it received notices that Bain Capital, the principal lender to MGE Korea Limited, the parent company of the Mohegan INSPIRE Entertainment Resort in South Korea (“Inspire”), has accelerated the MGE Korea ...

3 days ago · Bain Capital, the Boston-based investment firm, announced Monday it has assumed operational control of Inspire, the nearly $1.7 billion integrated resort Mohegan developed and owned in South Korea.

3 days ago · Mohegan, the gaming and entertainment company that owns Mohegan Sun, acknowledged late Tuesday night that Bain Capital, the Boston-based investment firm, has taken control of Inspire, the nearly ...

2 days ago · Bain Capital has wrested control of Inspire South Korea from developer-operator Mohegan Gaming & Entertainment (MGE). MGE chief financial officer Ari Glazer signalled an imminent takeover on17 February, in the middle of MGE’s fourth-quarter earnings call. “Just a few hours ago, we received notice… [that Bain had] accelerated the debt ...

4 days ago · Bain Capital’s statement explained that there would be “no impact on INSPIRE’s employees, guests or day-to-day operations. INSPIRE’s existing management team and Bain Capital are working closely to ensure business continuity while implementing enhancements that will strengthen the resort’s market position.”