Published: November 20, 2024, 03:50h.
Last updated on: November 20, 2024, 03:50h.
Mohegan, the gaming company owned by Connecticut’s Mohegan Tribe, is currently undergoing significant operational changes, marking a pivotal moment in its nearly thirty-year history.
Mohegan recently terminated its management agreements in Atlantic City at Resorts and in Las Vegas at Virgin Hotels. The company, formerly known as Mohegan Gaming & Entertainment, has also ceased operations at the ilani Casino Resort in Washington.
Despite these changes, Mohegan is not scaling back its operations. On the contrary, it is expanding its presence both in tribal gaming and commercial casinos, with a focus on international ventures as well.
Mohegan opened the first phase of Inspire, a $1.6 billion integrated casino resort at South Korea’s Incheon International Airport, in March. The destination offers various attractions such as a 15,000-seat arena, an indoor water park, immersive entertainment experiences, and a casino floor with live dealer table games and slot machines.
Mohegan President and CEO Ray Pineault highlighted the growth potential in tourism in South Korea, emphasizing that Inspire allows the company to reach an international audience far from its tribal lands in Connecticut.
“Inspire enables Mohegan to introduce a new form of entertainment to a different demographic, aligning with the tribe’s goals of economic diversification and sustainability,” Pineault stated.
New York State of Mind
Inspire contributed to Mohegan’s record revenue in the third quarter of 2024. However, the company is actively pursuing one of the three coveted casino licenses in New York State.
Mohegan has partnered with the Soloviev Group for an integrated resort casino project in Manhattan. The proposed Freedom Plaza includes a casino floor, hotel accommodations, conference space, wellness amenities, a rooftop pool, and various dining options.
Winning a New York license is crucial for our strategic expansion into key markets,” Pineault emphasized. “New York offers immense opportunities as a global entertainment destination.”
To set their bid apart, Mohegan and Soloviev have included plans for residential apartments, affordable housing units, and public green space at the proposed resort site.
“Our proposal focuses on affordable housing and green spaces, addressing essential community needs in New York,” Pineault added.
Mohegan NYC Odds
As the competition for New York casino licenses intensifies, Mohegan’s emphasis on its organizational culture and employee satisfaction stands out as a key asset. The company has consistently been recognized as a top workplace and recently made Newsweek’s list of “Most Loved Workplaces” for 2024.
Mohegan’s culture is rooted in the Spirit of Aquai, emphasizing values of respect, cooperation, and relationship-building,” Pineault explained.
“We prioritize creating a supportive and inclusive workplace where every team member is valued and empowered for growth,” he added.
Currently, MGM and Genting are considered front-runners for the New York licenses, alongside other major casino operators like Hard Rock International. The New York Gaming Facility Location Board will announce the winning bids by December 1, 2025.
Mohegan and Soloviev’s proposal will be evaluated against stiff competition to secure a coveted casino license in New York State.