South Korea’s newest integrated resort, the Mohegan Inspire Entertainment Resort, remains committed to launching its foreigner-only casino in the first quarter of 2024. The resort’s president, Chen Si, is optimistic they will be able to comply with all relevant gaming requirements by March next year.

Casino Launch Delayed Due to Requirements

Mohegan Inspire, owned and operated by the Mohegan Tribal Gaming Authority, opened its non-gaming facilities on November 30, including its 1,275-room hotel and 15,000-seat Inspire Arena. 

The property will still go through a series of inspections and evaluations before it can launch its casino, as per the rules of South Korea’s Tourism Promotion Act. In particular, Mohegan Inspire must first obtain a five-star rating for its hotel before it can apply for a gaming license, Mr. Si stated.

The management is confident everything will be smooth sailing, with the casino, which will offer 150 table games and 700 machines, on track to open in the first quarter of next year. The initial facilities, including the hotel and casino, are part of Phase 1a of the development which is expected to be fully completed in the second quarter of 2024.

Providing further details, Mr. Si said Phase 1b would focus on promoting the Mohegan cultural heritage in South Korea and the rest of the world. According to Mr. Si, discussions are ongoing with various business partners and potential investors on the Phase 1b development which will likely commence in early 2025.

What started as an ordinary day at the gaming tables at Rivers Casino in Pittsburgh turned into a memorable one for five players after their game triggered a huge $905,000 bad beat jackpot, allowing each of them to walk away with at least $45,000. 

Quad Aces vs. Royal Flush Triggers $904K Bad Beat Jackpot

The $905,000 bad beat jackpot was hit on November 28 at Rivers Casino Pittsburgh after Scott Thompson lost his quad aces to the royal flush of Brent Enos. Being the loser in that hand, Thompson took home the largest slice of the jackpot, worth $362,000. Enos received $271,000, while the three others who were at the same table with Thompson and Enos were each awarded $45,000. 

It looks like Rivers Casino Pittsburgh is slowly becoming a “national bad beat jackpot hotspot”, something that the venue welcomes with open arms. The venue currently holds the record for awarding the biggest bad beat jackpot in the US which was worth $1.2 million. It was hit in August 2022, with the “loser” taking home nearly $500,000.

The world record for the largest bad beat jackpot was set at Playground Poker Club in Quebec, Canada just this year. A poker bad beat jackpot worth an astonishing CAD $2,590,185 (approximately $1.9 million) was hit on August 9, with the loser of the hand receiving CAD $984,270.

The UK’s Department for Culture, Media and Sport (DCMS) has discussed plans to modernize land-based gambling, including the arcade and amusement sector, as part of its commitment to building a sustainable future for the industry. 

DCMS Highlights Economic Contributions of Arcade and Amusement Sector 

Addressing attendees at the recently-concluded Bacta Annual Convention 2023, DCMS Secretary Stuart Andrew recognized the major economic contributions of arcade and amusement operators throughout the UK which generate an economic turnover of £1.6 billion and employ thousands of people in the country. 

The sector continues to play a crucial role in the UK’s economic development despite the huge commercial challenges it’s facing, and the government wants to make sure the industry can operate sustainably now and into the future. 

The Gambling Act Review White Paper sets out a series of proposals for land-based gambling venues, including modernizing measures which Andrew said will help to support the move towards a brighter future for the sector. The proposals include a reform of the current 80/20 rule and the implementation of cashless payments on gaming machines. 

Ensuring a Sustainable Future for Land-Based Operators

The DCMS has initiated a consultation process on these measures, obtaining valuable insight from key stakeholders, including Bacta. Andrew told delegates at the conference that deciding on the right policy direction would take time but assured them that the White Paper proposals are all aimed at securing a sustainable future for the industry and enhancing protections for consumers.

UK gambling is currently the smallest sector overseen by the Department for Culture, Media and Sport (DCMS), with 1,000 gambling businesses operating throughout the country. 

However, the industry continues to thrive, with nearly a quarter of businesses generating more than £1 million in revenues each year. These figures are contained in the latest economic estimates report submitted by the DCMS to the National Office of Statistics (ONS).

UK Gambling Categorized as Standalone Sector

According to the report, as of March 2022, gambling businesses accounted for just 0.2% of all businesses supervised by the DCMS, but unlike many of the other sectors, the gambling industry had been categorized as an independent sector with no overlap with other sub-sectors. 

Of the 1,000 gambling businesses operating in the UK, 705 were categorized as micro-sized (0-9 employees), with 35 belonging to the large business category with over 250 employees. The rest were categorized as small (10-49 employees) and medium (40-249 employees).

Most6 Firms Generate Over £1M Annual Revenue

In terms of revenue, most of the firms generate between £100,000 and £250,000 each year, while 235 generate more than £1 million. 

Most UK gambling businesses are based in London (17%), with the rest located in the Midlands (12%), the North West (11%), Scotland (10%), and Northern Ireland (4.2%).

Macau casino operator Wynn Macau Ltd continues to enjoy a strong recovery, as latest figures show the company’s mass drop in October 2023 was up 24 percent from the same month in 2019. 

Wynn Macau’s Strong Recovery Extending into 4Q

October’s results were boosted by the autumn Golden Week, a holiday in mainland China during which the country sees a huge surge in cross-border trips. This is considered among the busiest periods for Macau operators as they cater to an influx of Chinese visitors. 

During Wynn Resorts Ltd’s recent earnings call, Group CEO Craig Billings revealed that October 2023’s mass drop went 24 percent above October 2019. Hotel occupancy was also at 98 percent of 2019’s figures, accompanied by healthy tenant retail sales. 

Adjusted earnings before interest, taxation, depreciation, and amortization (EBITDA) per day for October also went beyond October 2019, though market share was lower, Billings added.

This follows strong results posted by the operator during the third quarter, with multiple key areas of the business trending well above 2019 levels, according to Billings. Wynn Macau Ltd operates two properties in the region – Wynn Macau and Wynn Palace Cotai.

Update on Wynn Al Marjan

Billings also provided a few updates on their integrated resort project in the United Arab Emirates (UAE), saying the hotel tower foundation is nearly complete. Wynn Al Marjan is located in Ras Al Khaimah and is slated to open in 2027.