US tribal gaming operator Mohegan Tribal Gaming Authority has confirmed it is still in discussions with Bain Capital – the main lender who in February seized control of the company’s Korean integrated resort INSPIRE – over transition of duties and control as it works through a raft of potential ongoing financial risks.
In filings accompanying its results release for the June 2025 quarter, Mohegan said it was seeking resolution to its ongoing connections to INSPIRE, MGE Korea Limited and creditors – specifically as they relate to the duties of the company’s subsidiaries under a management agreement signed in 2021.
Mohegan has, however, realized a net gain of US$77.6 million after deconsolidating affected subsidiaries, which takes into account a US$137 million liability for the estimated value of certain subsidiary guarantees associated with the Korean integrated resort.
