The Mohegan Tribe’s large-scale venture into the gaming industry began with the opening of Mohegan Sun in Uncasville, Connecticut, in October 1996. It was a financial success for many years, with only neighboring Foxwoods providing serious competition in the early days. By 2005, Mohegan was beginning to make investments outside of Connecticut and now has about half a dozen different properties. In 2018, Mohegan reached Asia with its move to take full control of the Inspire in Incheon, South Korea.
Mohegan has expressed interest in gaining an IR license in the Japanese market, aiming in particular for one of the smaller, regional markets such as Tomakomai.
Family Name: Kontomerkos
Given Name: Mario
Role: Chief Executive Officer
Profile: Well experienced in the financial industry, Kontomerkos joined Mohegan as Chief Financial Officer in 2011. In October 2017 he was promoted to the post of Chief Executive Officer with a mandate to diversify the company's holdings.
Family Name: Jones
Given Name: Christopher
Role: Vice-President of Corporate Finance
Profile: Most of Jones' early career was spent as an equity analyst. His research turned to the gaming industry by about 2008, and he became Mohegan's vice-president of corporate finance in July 2017.
The decision by Hokkaido Governor Naomichi Suzuki to drop out of the Japan IR race does not simply remove one more local government from contention, it also represents the collapse of what was arguably the strongest IR initiative outside of the Kansai and Kanto regions, the regional IR which probably would have produced the highest financial returns.
Mohegan Gaming & Entertainment has announced the opening of its office in Tomakomai, Hokkaido, where it is one of several international IR operators hoping to build a regional IR.
In the April-June 2019 period, revenues edged up only slightly for Mohegan Gaming & Entertainment, rising 0.8% year-on-year to US$347.6 million, according to a report from the company.
Even while the pro-IR political momentum in Hokkaido appears to have stalled, Mohegan Gaming & Entertainment is moving forward with its plans to bid for a Tomakomai IR, outlining its plans in a release to the Japanese media at the end of June.
US tribal casino operator Mohegan Gaming & Entertainment (MGE) has announced the appointment of Christian Block as regional president for its properties in Canada and Korea.
Mohegan Gaming & Entertainment, the company behind the Mohegan Sun in Connecticut and the forthcoming Inspire Korea in Incheon, recorded a fall in net income and revenues for the quarter ended March 31, 2019.
The Nihon Keizai Shinbun held its second IR seminar on March 5, this time in Sapporo, Hokkaido, before an audience of 367 people.
In an exclusive interview with AGB Nippon, Mohegan CEO Mario Kontomerkos explained that it was his tribal operator’s focus on “generational sustainability” and its “serious and deep connections with the community” that sets it apart from the other half dozen or so international operators that have taken a keen interest in Tomakomai.
The Wakayama IR Business Connect Seminar was held on the late afternoon of the 19th and was successful in drawing interest from a large cross-section of the local business community, as well as domestic and international media.
Foxwoods Resort Casino and Mohegan Sun in Connecticut continue to report significantly lower slot machine revenue more than half a year since MGM Springfield opened its doors in neighboring Massachusetts.
The upcoming Wakayama IR Business-Connect Seminar has been fully subscribed, attracting over 200 companies from the Wakayama as well as greater Kansai Region.
Kevin Brown, chairman of the Mohegan Tribal Council, has stepped down from his position citing undisclosed personal reasons, effective immediately.
US casino operator Mohegan Gaming & Entertainment last Thursday reported a year-on-year decrease in net revenue and adjusted EBITDA for the October-December 2018, according to the company’s latest results filing.
The inaugural Hokkaido IR Showcase came to a close last Thursday, as seven IR operators and numerous other Japanese companies and associations exhibited at the first public IR event to be held in the prefecture.
Mohegan Gaming & Entertainment made their first strides in the northernmost prefecture on Wednesday at the Hokkaido IR Showcase held at the Axes Sapporo Exhibition Hall.
MGM Resorts has gone on the offensive against the tribal operators Foxwoods Resort Casino and Mohegan Gaming & Entertainment by directly targeting customers in their home base of Connecticut, upping the ante in fierce competition for market share in the US northeast.
Mohegan Gaming & Entertainment and the Paramount Pictures Corporation have announced an agreement to build a 404,000 square meter Paramount Pictures-branded theme park at the Inspire IR in Incheon, South Korea.
Mohegan Gaming & Entertainment has told an American newspaper that should the Massachusetts Gaming Commission find that Wynn Resorts is unfit for a license to open its US$2.5 billion Encore Boston Harbor casino complex, that they are ready to step in and buy the property.
It was fully anticipated that Connecticut-based Foxwoods Resort Casino and Mohegan Gaming & Entertainment would see their revenues suffer with the opening of MGM Springfield in neighboring Massachusetts, but now the first figures are in—both of the Native American tribe-owned casinos witnessed revenue falls of 10% in October.
The 2018 Indian Gaming Industry Report by Meister Economic Consulting finds that the two tribe-owned casino resorts in Connecticut—Foxwoods Resort Casino and Mohegan Gaming & Entertainment—generate a combined US$3.7 billion in economic activity through taxes, job-creation, and other aspects.
Moody's Investors Service has put the credit rating of Mohegan Gaming & Entertainment, which is now mulling an IR bid in Tomakomai city and perhaps elsewhere, on review for a downgrade.
In addition to Clairvest and Hard Rock, both Rush Street Gaming and Mohegan are in the process of opening offices in Tomakomai city, Hokkaido, a report in the local newspaper, Tomakomai Minpo, has revealed.
Gathering at a hotel in Wakayama city, Wakayama Governor Yoshinobu Nisaka once again promoted the concept of building an IR at the Marina City location, this time explaining the contents of the revised plan released by the prefectural government last week.
It would appear that the competition to partner with the Tomakomai municipal government has now narrowed down to six serious suitors—Caesars, Hard Rock, Mohegan, Rush Street, Clairvest, and Foxwoods.