US tribal casino operator Mohegan says it is looking to resolve all remaining financial links to Korean integrated resort INSPIRE after its obligations under a US$100 million credit enhancement support agreement were relieved earlier this month.
As reported by Inside Asian Gaming, the main lender to the US$1.6 billion integrated resort project in Incheon, Bain Capital, seized control of the property in February after accelerating actions against INSPIRE’s operating entity MGE Korea Ltd following an event of default.
Mohegan has since been relatively quiet over the situation other than stating in August that it was in ongoing discussions with Bain Capital over transition of duties and control as well as ongoing financial risks.
