Month: March 2025

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Mohegan

Bain Capital takes control of MGE Korea

The investment firm says MGE defaulted on a loan used to finance the integrated resort.  

South Korea.- Bain Capital has announced it has taken operational control of the South Korean casino resort Mohegan Inspire. The company reportedly took the decision because Mohegan Gaming & Entertainment (MGE) defaulted on US$275m in loans used to finance the integrated resort (IR). 

However, MGE issued a statement claiming that, while Mohegan did not satisfy certain financial covenant tests, “it has not missed a payment of principal or interest.”

The statement reads: “The loan held by Bain Capital does not mature until May 2027, with no principal payments due before the maturity date. We made several good faith proposals for amending the financial covenants that are consistent with market precedents. However, Bain Capital has dismissed those proposals and provided counterproposals that would result in Bain Capital receiving large payments ahead of other Inspire lenders.”

It added: “We have been and will continue to attempt to negotiate in good faith with Bain Capital to find a mutually agreeable solution that allows us to be continuing partners with the people of Korea and our various stakeholders. We do not believe the change-of-control pursued by Bain Capital is in the best interests of the property, its team members and customers, other lenders and various key stakeholders.”

Mohegan Inspire held a soft opening on November 30, 2023 and a full opening last March. It has over 150 table games, 390 slot machines, and 160 electronic table games (ETG). It has a floor for VIP guests featuring a Guandong-style restaurant.

Mohegan Inspire held a soft opening on November 30, 2023 and a grand opening last March.

A week ago, MGE shared its financial results for the first quarter of financial year 2024/2025. It…

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Nanticoke

GIRLS WRESTLING: District 2 sends nine to states from Central Regional

MILTON – For Gia Silva, Saturday was like a redemption tour.

The Wallenpaupack sophomore was one spot away from Hershey last year, finishing fifth at the PIAA Girls’ Wrestling Central Regional.

This year, she made sure her ticket to the Giant Center wouldn’t hinge on a run through the consolation round.

She rolled through the championship bracket to earn second place as one of nine District 2 wrestlers who are headed to the Giant Center next weekend. Joining Silva are Honesdale’s Saige Olver (118), Maddison Miller (142) and Jaidyn Mikulak (285), Nanticoke Area’s Emily Kivler (112) and Sierra Ripka (170), Wyoming Valley West’s Bella Seip (118), Delaware Valley’s Kate Prior (155) and Crestwood’s Samara Bailey (285).

Sometimes, emotions play a big part in wrestling. For Silva, it was falling one spot short in last year’s regional, and bouncing back from a tough loss to Kivler in last week’s District 2 112-pound Championship.

She went back to work this week with one thought on her mind: Don’t fall one spot short this year.

“It’s pretty exciting because I have been waiting for this since last season,” Silva said. “This was like a comeback for me. Last week’s loss, you just have to leave it in the past. You can’t focus on it because you aren’t going to get anywhere if you do that. You just have to wrestle hard.”

She opened up with a 15-6 win over Milton’s Louise Cromley, and followed it up by pinning Bald Eagle Area’s Addison Tice in the quarters. She punched her ticket in a heart-pounding semifinal where she led Punxsutawney’s Evelynn Neale, 7-0, before giving up a late, seven-point move to tie the match at 7-7.

In overtime, she scored the bout-clinching takedown with 22 seconds left.

“I got kind of caught in that one move where she got some back points on me,”…

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Lenni Lenape

A Fashionable Madness: The Obsession with ‘Settler Colonialism’

Washington, District of Columbia, USA. 18 Oct 2023. A protester holds up two signs condemning settler colonialism at an 18 October pro-Palestine protest organised by Jewish Voice For Peace. Credit: Natascha Tahabsem/ZUMA Wire/Alamy Live News

A review of On Settler Colonialism: Ideology, Violence, and Justice by Adam Kirsch, 160 pages, W.W. Norton & co. (August 2024).

According to legend, in around 1626, Dutch trader Peter Minuit arranged the purchase of what came to be known as Manhattan by the New Netherland company for “24 dollars’ worth of beads and trinkets.” Historians have long considered the transaction just one—albeit especially significant—item in a long inventory of dispossession and displacement of natives by settlers in the New World. This history has more recently become the focus of public consternation. In its official land acknowledgement, for instance,

New York University acknowledges that it is located on Lenapehoking, ancestral homelands of the Lenape people. We recognize the continued significance of these lands for Lenape nations past and present, we pay our respects to the ancestors as well as to past, present, and emerging Lenape leaders…. We believe that addressing structural Indigenous exclusion and erasure is critically important and we are committed to actively working to overcome the ongoing effects and realities of settler-colonialism.

Yet attempting to generalise from patterns of European settlement in North America to other regions with distinct histories often produces absurd and catastrophic delusions, as Adam Kirsch argues inhis new book, On Settler Colonialism.

I am a descendant of Protestant Europeans who came to North America in the 1700s. But according to the precepts of settler colonialism, I remain as much a settler as my English and Scotch–Irish ancestors or their German, Polish, and Lithuanian immigrant followers and will bequeath my settler colonialist status to my children and their future offspring….

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Mohegan

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