The management rights of Inspire Entertainment Resort have been transferred from U.S.-based Mohegan to global private equity firm Bain Capital. (Image courtesy of Mohegan Inspire)
SEOUL, Feb. 18 (Korea Bizwire) — The management rights of Inspire Entertainment Resort, a major integrated resort on Yeongjong Island near Incheon, have been transferred from U.S.-based Mohegan to global private equity firm Bain Capital.
Inspire announced on Monday that Bain Capital had exercised its acquisition rights, taking over the management of its parent company, MGE Korea Limited. As a result, the resort’s official name has been changed from Mohegan Inspire Entertainment Resort to Inspire Entertainment Resort.
The resort, located near Incheon International Airport, features three five-star hotel towers with a combined 1,275 rooms, South Korea’s first dedicated performance arena with a 15,000-seat capacity, an indoor water park housed under a glass dome, and a foreigner-only casino.
Mohegan, which operates eight integrated resorts worldwide, had initially funded the Inspire project entirely. However, it failed to meet loan obligations with Bain Capital, leading to the ownership transition.
In its fiscal year 2024 (October 2023–September 2024), Inspire reported revenue of KRW 219 billion ($151 million) but incurred an operating loss of KRW 156.4 billion ($108 million).
Despite the ownership change, Inspire stated that there would be no disruptions to daily operations, and employees and customers would not experience significant differences. The current management team will work closely with Bain Capital to ensure business continuity and implement measures to strengthen the resort’s market position.
Bain Capital has a history of investments in the South Korean market, having previously managed and expanded companies such as Carver Korea, Hugel, Schwan’s, and Hanwha Advanced Materials.
Ashley Song (ashley@koreabizwire.com)
