Analyzing Tribal operators’ plans for 2024
It’s difficult to anticipate exactly what the year will bring, but luckily for us, several Tribal operators have been waiting for 2024 to launch some major plans.
This year has laid great expectations, yet it’s only just begun. What should we expect from 2024? Considering that it’s going to be the Year of the Wood Dragon, this premise is that we see 12 months of success and ambition. But also growth, especially within the gaming industry.
There are already several major projects that are bookmarked to take place this year. The first is the most literal sense of transformation possible; the acquisition of The Mirage Hotel and Casino from MGM Resorts by Hard Rock International. This $1bn project was announced in 2023, although with operations at the venue continuing as normal, little was made of the news.
However, as 2024 rolled around, Hard Rock International revealed rather extensive renovation plans for the old venue. Not only will The Mirage be entirely rebranded to Hard Rock Las Vegas, but several key aspects of the site will be changed too. The hotel rooms will be completely gutted and remade in the trademark Hard Rock Hotel image. As part of this, Hard Rock has also announced that it intends to build a similar guitar-shaped hotel tower on-site, which will rise 660 feet into the air. Not only will this drastically alter the skyscape of the Las Vegas Strip, but it will also remove The Mirage’s iconic volcano from the property. Hard Rock International has confirmed it will remove the feature to make way for the new vision of the casino. So, while The Mirage will continue to operate until then, it is running on borrowed time. This year will bring about the final day of The Mirage and we will not see the first day of Hard Rock Las Vegas for some time; not until the renovations are complete.
But this is not a sad story. In fact, it’s only one more chapter in the long history of the venue. The first time the property was used was in 1930, for a nightclub, and since then it has been the home of actresses and even other casinos.
The first time the site was opened for gambling was as early as 1959, with the Castaways, which was demolished to make way for The Mirage. So, in turn, it can be seen as only natural that The Mirage would be somewhat demolished to make way for its next stage in life.
With the Seminole Tribe leading Hard Rock International, this makes for a Tribal operator getting a foot in the door on the famous Las Vegas Strip. Not only has the Seminole Tribe solidified its place in paradise, but it’s taken an iconic venue and made the decision to turn it into something new. Rather than simply relying on The Mirage’s reputation (which it could well have done), the Hard Rock brand and the Seminole people alike are not afraid to transform the opportunity into something bigger.
INSPIRE
This isn’t the only Tribal operator that has made big steps in business, though, nor was it the only time we’d see the Lunar New Year mentioned. The Mohegan Tribe, native to Connecticut, will make its international debut this year, with its South Korean Inspire Entertainment Resort. Mohegan was chosen by the South Korean Government in February 2016, with the Mohegan Tribe picked to carry the project due to its success operating the Mohegan Sun property in Uncasville, Connecticut. The concept agreement was finalized between Mohegan and the Incheon International Airport Corporation in 2015.
Progress has been steady over the years, despite several global events happening between then and now. The Inspire Entertainment Resort will offer both gaming and non-gaming facilities, with activities for adults and families. There will be pools, entertainment districts, parks and Korea’s first dedicated performance hall, Arena.
Not only that, but the foreign-player-only casino is set to open with 150 gaming tables and around 700 slot machines. While it will not be able to rely on local crowds, the operator is hoping to appeal to the Chinese, Japanese, Hong Kongese and Macanese crowds. South Koreans who hold a foreign passport will also be able to visit the casino, as well as expatriates. With the clientele being restricted to foreign-player-only customers, the location of the resort makes all the more sense – being located right next to Incheon International Airport, one of the main transport hubs for South Korea’s capital, Seoul.
At press time, Chen Si, the President and Representative Director of the upcoming Inspire Entertainment Resort in South Korea, has stated that the company has set the Chinese New Year to be its target opening date, to be operational in time for the festivities. Meanwhile, the hotels at Mohegan Inspire were opened on 30 November 2023 as part of a staggered launch. This is due to current limitations in South Korea, which restrict Mohegan Gaming from applying for its casino licence until it has achieved a five-star hotel rating.
All in all, this project will be the first of its kind in many ways. Not only will this be the first destination resort with an adjacent private air terminal, it will also be the largest entertainment arena in South Korea, with hopes to contribute significant revenue to the South Korean economy.
More than that, though, this is the first time that a Tribal operator is standing up on the international stage. The Mohegan Tribe, despite several hundred years of uncertainty, has managed to step up and not only prove itself across the US, but now across the world. The Tribe was one of the last to receive federal recognition, only being awarded it in 1994, but this hasn’t stopped it in its tracks. With several big Tribes undergoing such moments of transformation, perhaps the Year of the Wood Dragon is living up to its name already.
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