Bain Capital, an American private investment fund, has acquired the management rights of the integrated resort (IR), Mohegan Inspire Entertainment Resort, located adjacent to Incheon International Airport in South Korea.
MGE Korea, the parent company of Mohegan Inspire Entertainment Resort, had received financing from Bain Capital. Mohegan has not defaulted on principal or interest payments; the financing terms required no principal repayment until maturity in May 2027. However, seeking modifications to the financial covenant due to non-compliance, their proposal was rejected.
In a statement, Mohegan commented, “We do not believe the pursuit of a change in control by Bain Capital is in the best interest of the property, its team members, customers, other lenders, and various key stakeholders.”
Mohegan is a company established by the Mohegan Tribe. It opened its first IR facility, Mohegan Sun, in Connecticut, USA, in 1996 and has since expanded its operations in the USA and Canada.
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