South Korea's Mohegan Inspire Entertainment Resort (pictured), which opened its soft for non-gaming facilities on Nov. 30, is likely to have "positive cash flow" by the end of 2024, says Jody Madigan, chief operating officer of promoter Mohegan Tribal Gaming Authority.

He spoke during an earnings call on the U.S.-based group's fiscal fourth-quarter results through Sept. 30.

The first phase of the Mohegan Inspire was described as a US$1.6 billion project.

Mr. Madigan attended the launch and said that "traffic was smooth over the weekend" at the resort near Incheon International Airport after it opened.

"We are pleased to report that our team performed perfectly," the COO said of two large-scale events at Mohegan Inspire shortly after the opening.

The reviews, including social media, were all "enthusiastic about the quality of property and the service of the team," Mr. Madigan said.

Raymond Pineault, chief executive of Mohegan Gaming, said in prepared remarks that the company, which has the majority of its business in the United States, achieved adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) in fiscal 2023.

He said this was "the second highest in our 27-year history compared with our FY22 adjusted EBITDA of $403.9 million so far."

The CEO added, "It continues to grow in the digital gaming sector, and the recent soft opening of Mohegan Inspire on November 30 will enable Mohegan [games] to achieve strong results through diversification efforts."

Carol Anderson, the group's chief financial officer, said in a phone call Thursday that the company expects no more funds to be needed for "full construction and development of the project" in South Korea.

카지노사이트 순위 "As previously announced, we have agreed to invest up to 155 billion won, or about $119 million in total, to pay for the completion of the Mohegan Inspire," she reiterated.

CFO says Mohegan Gaming's total debt, excluding unrecurring debt issuance costs and discounts, was $3.27 billion as of Sept. 30, up $176.2 million from the June quarter.

Mohegan Inspire formally applied "last week" for permission to operate the game for foreign-only casinos to open at the venue, and is set for "two months" awaiting approval, which may come from February 2-8, 2024, just before the Lunar New Year holiday in the country, February 9-12.