Asia
Mohegan INSPIRE to Hold Soft Opening on November 30
Mohegan INSPIRE Entertainment Resort President Chen Si announced the opening of its first phase as a true entertainment resort in Asia with a soft opening on November 30. This phase encompasses significant attractions, including three hotel towers with 1275 rooms, Korea’s first multi-purpose arena, MICE facilities including the largest ballroom in Korea, its signature restaurants and Aurora, a state-of-the-art digital entertainment street.
With the aspiration of “Inspiring Worlds, Inspiring People,” INSPIRE aims to set a new standard for entertainment resorts in South Korea, offering an unforgettable and unparalleled experience to visitors of all generations and nationalities. INSPIRE plans to open the entire resort in phases by the first half of 2024, employing a gradual opening strategy.
“This is a momentous occasion for Mohegan, marking both a historic partnership for our Tribe and a new echelon for our system of premier integrated entertainment resorts around the world. We have been honored to work closely with the Korean government to make this day possible, and we look forward to INSPIRE contributing to the local and regional economies by creating local jobs, bringing visitors to enjoy the Incheon region, and attracting new businesses both on and adjacent to the property. I am grateful to the Mohegan and Mohegan INSPIRE teams for their efforts and their leadership and look forward to many years of success and partnership in South Korea,” said James Gessner Jr., Chairman of the Mohegan Tribe and the Mohegan Management Board.
A soft opening on November 30 will introduce a premier hotel comprising three towers, each with a distinct concept (Forest Tower, Sun Tower and Ocean Tower); INSPIRE Arena, a multi-purpose indoor performance venue with a total capacity of 15,000 seats; and Aurora, a 150-meter-long digital entertainment street featuring super-large LED screens. This opening also showcases Splash Bay, a glass-domed indoor water park (swimming pool available to hotel guests in the initial phase), more than 10 INSPIRE-owned restaurants, including the world-famous Michael Jordan’s Steak House, and state-of-the-art MICE facilities.
“INSPIRE is significant to us not only for our growth in the global market but also for the opportunity to share Mohegan’s legacy and spirit with the world. Together as a team, we look forward to bringing this incredible entertainment destination to Asia, offering the top-notch hospitality services and products that our guests expect from our brand,” Ray Pineault, President and Chief Executive Officer of Mohegan, said.
Following the initial soft opening, INSPIRE Mall—an integrated cultural space combining shopping, dining and entertainment—and a foreigner-exclusive casino are expected to open in the first quarter of 2024. Discovery Park, an outdoor entertainment facility covering approximately 100,000 square meters; an international food court in collaboration with Glow Seoul, along with Splash Bay’s water attractions, Korea’s largest digital immersive content exhibition center and an indoor children’s playground are expected to open in the second quarter of 2024.
“We are delighted that project INSPIRE, aimed at creating a leading entertainment integrated resort in Northeast Asia in Incheon, South Korea, has reached a major milestone. I would like to express a sincere gratitude to the Korean government, municipalities, local communities and our team members for their support and collaboration on this project. As we grow with the community, we will establish ourselves as an ultimate entertainment destination that attracts visitors from around the world, filled with inspiration and innovation,” Chen Si, President of Mohegan INSPIRE, said.
Asia
Macau Gaming Growth to Slow Down Amid China’s Clampdown on Illegal Money Exchanges
Macau’s gaming sector is likely to see a slowdown in EBITDA growth in June and July due to the mainland’s crackdown on illegal money exchange operations in Macau, according to a recent forecast by Morgan Stanley.
China’s Ministry of Public Security has launched a major campaign to target “money exchange gangs” providing large-scale cash exchange and loan sharking services to mainland Chinese gamblers in Macau. These illicit activities have been facilitating the flow of funds out of China, which authorities view as a threat to financial stability.
The crackdown has already yielded results, with police across China reporting successful operations that have uncovered millions in illegal exchange activities and the arrest of dozens of suspects. However, analysts warn that disrupting these unofficial currency exchange channels could potentially lead to a slowdown in mainland Chinese travel to Macau’s gaming industry.
Praveen K Choudhary, Gareth Leung and Stephen W Grambling of Morgan Stanley project that the second quarter will see the first negative quarter-on-quarter growth in both mass gross gaming revenue (GGR) and corporate EBITDA since the post-Covid-19 reopening. Mass GGR is expected to decline 2% quarter-on-quarter, reaching 113% of 2019 levels, while corporate EBITDA is forecast to decrease 7% quarter-on-quarter, reaching 80% of pre-pandemic levels.
The brokerage firm predicts that June and July will see a slowdown due to the money exchange crackdown, while weaker macroeconomic conditions, consumption, and retail sales in China could persist in the third quarter and further impact the Macau market.
The post Macau Gaming Growth to Slow Down Amid China’s Clampdown on Illegal Money Exchanges appeared first on European Gaming Industry News.
Asia
China Media Group, Esports World Cup and VSPO Sign Strategic Cooperation Agreement on National Institute for Esports Development
China Media Group, Esports World Cup Foundation and VSPO have signed a strategic cooperation agreement on Friday as the new China Media Group National Institute for Esports Development kicked off in Beijing.
China Media Group (CMG), which operates state television networks including CCTV, formally unveiled the new CMG National Institute for Esports Development on Friday. The Institute then signed a strategic cooperation agreement with the Esports World Cup Federation and VSPO during the establishment ceremony, vowing to jointly organise and participate in future esports events.
The establishment ceremony was attended by Shen Haixiong, vice minister of the Publicity Department of the Communist Party of China (CPC) Central Committee and president of CMG, Sun Shuo, CPC Secretary of Xicheng District and Xue Jijun, head of the institute, among other government officials.
The three organisations have been long-time advocates for the healthy development of the esports industry. VSPO already works with the Esports World Cup Foundation in organising the inaugural Esports World Cup, an eight-week mega event currently underway in Riyadh with a record-breaking prize pool of more than $60 million.
“It’s a huge honor to be a strategic partner with the Chinese Media Group and the Esports World Cup Foundation with the establishment of the CMG National Institute for Esports Development, which marks another key sign of Beijing’s support for esports development,” Chairman of VSPO, Asia’s biggest esports operator, Dino Ying said.
The post China Media Group, Esports World Cup and VSPO Sign Strategic Cooperation Agreement on National Institute for Esports Development appeared first on European Gaming Industry News.
Asia
QTech Games appoints Crystal Nadal to the role of Sales Director
Top distributor for emerging markets secures well-known and respected sales leader to continue expansion of its global footprint
QTech Games, the leading distributor for all emerging markets, has appointed Crystal Nadal to the position of Sales Director.
Crystal is a well-known and respected operator in the industry, armed with a wealth of international expertise within business development and sales that is uniquely fine-tuned for Asia’s patchwork make-up of territories.
Crystal arrives at QTech Games after successful recent stints at Tom Horn Gaming, where she acted as Head of Business Development for Asia; Aura Gaming, where she was COO; and Solid Gaming where she held a range of senior marketing roles across an array of varied content – including live-dealer and assorted igaming solutions for the fragmented Asian market. In each case, she diligently built the brand’s reputation in gaming markets from India to the Far East, demonstrating a keen eye for strategy and new sales across both digital and land-based sectors.
Now Crystal brings those skills to bear at the industry’s leading platform and distributor for growth territories. She will be responsible for managing QTech Games’ existing partners throughout the world’s largest continent, and spearheading the expansion of QTech Games’ burgeoning influence into other untapped “margin” markets.
Crystal Nadal said: “I’ve always based my business relationships on the ability to add value. Working with QTech Games, I’ve not only found the premier distributor for delivering localised games in Asia, but also a strong, experienced team that are client-focused and share an ongoing commitment to tailor their offering to make it work for the customer.
“My new colleagues at QTech Games have excellent relationships across the sector, and their proprietary platform has quickly become the trailblazer in our home territory of Asia. They’re trusted, supportive, collaborative and well-regarded. I can’t get behind a better story than that.”
Philip Doftvik, CEO of QTech Games, commented: “We’re thrilled that Crystal has joined the QTech Games team and she’s hit the ground running. With her winning mindset and attitude, she is also a perfect fit in our company culture. Her experience and contacts in sales and business development are second to none in the Asia landscape, so she’ll be a real asset to both the company and all our clients.
“Securing the best executive talent has always been a main driver of our ability to scale. Therefore, we’re naturally delighted that Crystal is now taking the wheel for further business development and sales in our core continent.”
The post QTech Games appoints Crystal Nadal to the role of Sales Director appeared first on European Gaming Industry News.
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