Mohegan experiences a reported $77.6 million profit following the relinquishment of operational authority over the INSPIRE Korean resort.
In an unexpected turn of events, Bain Capital has taken over the operations of the INSPIRE integrated resort in South Korea, previously managed by the Mohegan Tribal Gaming Authority. This change in management was announced in early 2025, marking a significant shift in the control of the INSPIRE resort.
The transition of duties and control was a result of Bain Capital becoming the main lender for the INSPIRE project. The development was detailed in the filings accompanying Mohegan's results release for the June 2025 quarter.
The change in management has resulted in a US$137 million liability for Mohegan, attributed to the estimated value of certain subsidiary guarantees associated with the INSPIRE resort. However, the company has managed to realise a net gain of US$77.6 million after deconsolidating affected subsidiaries.
Mohegan is now focusing on resolving its ongoing connections with INSPIRE and MGE Korea Limited, under the terms of a 2021 management agreement. The resolution process involves creditors related to the INSPIRE integrated resort.
The discussions between Mohegan and Bain Capital are ongoing, with the aim of addressing the transition of duties and control effectively. As of August 2025, the latest information available indicates that Bain Capital's involvement in the INSPIRE project remains active.
This news comes from Inside Asian Gaming, written by Ben Blaschke. The story underscores the ongoing efforts of Mohegan Tribal Gaming Authority to work through potential financial risks associated with its international projects.
The unexpected change in management at INSPIRE integrated resort was due to Bain Capital becoming the primary financier for the project, as detailed in Mohegan's Q2 2025 filings. The transition has led to a US$137 million liability for Mohegan, while simultaneously generating a net gain of US$77.6 million after deconsolidating affected subsidiaries. Currently, both Mohegan and Bain Capital are engaging in discussions to manage the transition effectively within the business and finance realms.
