The first Powerball drawing for the new year made one lucky ticket holder from Michigan significantly rich. The person, who is yet to be identified, won the grand prize from the lottery game on January 1, a whopping $842.4 million jackpot (cash value of $425.2 million). The $842.4 million jackpot marked the fifth-largest prize in the history of Powerball. Yet, it was a far cry from the mind-blowing $2.04 billion jackpot, the biggest prize ever won from the game.

Now, more than two weeks after the jackpot was won, the grand prize from Powerball continues to grow. The drawing on Wednesday saw nobody guess correctly all the winning numbers. This enabled the jackpot to increase to an estimated of $120 million for the next drawing of Powerball scheduled for Saturday, January 20, 2024. The estimated $120 million jackpot has a cash option which is approximately $59.4 million.

Concurrently, the jackpot of another popular game across the United States, Mega Millions, also continues to increase. After no one guessed correctly the winning numbers from the game’s drawing on Tuesday, the estimated grand prize soared to $236 million or $113.6 million as a cash option. Mega Millions’ upcoming drawing is scheduled for Friday, January 19, 2024.

Single Winner Takes a Million Dollar Prize from the Drawing on Wednesday

Wednesday’s Powerball drawing saw winning white balls 18, 22, 43, 61 and 65, along with red Powerball 2. While there was no one who guessed correctly all the winning numbers, there was also no one who collected a second-tier $1 million prize. However, one lucky player secured a $2 million Power Play prize by guessing correctly all white balls.

Five more lucky lottery players took home a $50,000 prize each for guessing correctly four white balls along with the red Powerball. While 160 lottery players took home $160 each for guessing correctly four white balls, some 47 secured a $400 Power Play prize each.

Unsurprisingly, the biggest share of winners secured Powerball’s lowest-tier prize, $4. While 168,133 people guessed correctly the red Powerball, 67,703 guessed correctly one white ball along with the red Powerball. Each of those players secured a $4 prize.

On the other hand, nearly 87,000 players collected a $16 Power Play prize each from the latest drawing.

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The Mohegan Tribal Gaming Authority released an update on its in-development South Korean resort. Inspire Integrated Resort, which will see its parent company expand internationally, will receive further financial backing needed for its completion.

As announced, on February 16 Mohegan executed an Equity Commitment Letter and agreed to make certain non-dilutive equity capital contributions to Inspire. In short, the tribal company will provide the project with additional funding, which will be crucial to turning Inspire into a reality.

Mohegan will provide Inspire with the US dollar equivalent of 155 billion Korean won (around $118.5 million, current conversion rates). Inspire will receive the sum in several payments before September 30 this year.

In addition to the capital provided for the completion of Inspire, Mohegan also agreed to make further non-dilutive equity capital contributions if necessary to cover certain development costs or pre-opening expenses if they exceed budgeted amounts in an amount of up to KRW 30 billion.

The announcement added that Mohegan’s mezzanine lenders have become express third-party beneficiaries of the Equity Commitment Letter and can enforce additional contributions. The lenders also entered into a Waiver and Consent Letter where they agreed to certain amendments to the development plan for Inspire. These include amendments to the fixed-price construction contract, changes to the scope of the project and inflation cost increases.

About Inspire Integrated Resort

Mohegan’s Inspire Integrated Resort is a huge casino resort project that is expected to launch in late 2023. If everything goes according to plan, by early 2024, the casino will also welcome its first visitors.

Inspire will be a first-of-its-kind, $5 billion resort that will feature a unique three-tower luxury hotel. It will be packed with casino, hospitality, dining and entertainment facilities. Inspire will have the biggest entertainment area in South Korea and will feature a convention center, a shopping district and numerous restaurants.

The project is close to the Incheon International Airport on Yeongjong Island, making it an easily-accessible destination for foreign tourists. This is very important, considering that the casino will only be open to foreigners.

Prior to its South Korean Project, Mohegan was primarily focused on the NA region, like most tribal entities. However, the company’s ambitions go beyond North America and its casino resorts in Connecticut, Washington, Pennsylvania, New Jersey and Nevada.

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