Mohegan Sun Now Fully Controls South Korea Casino Project ‘Inspire’
Mohegan Sun, the casino operating unit of Connecticut’s Mohegan Tribe, is increasing its investment on the business’s first project that is international.
Mohegan Sun is living up to its ‘a world at play’ motto by venturing to South Korea.
Announcing its second quarter financial outcomes for the 2017-18 year that is fiscal Mohegan Gaming Entertainment (MGE) revealed it has bought out its local development partner in South Korea to just take 100 per cent ownership in the under-construction integrated casino resort adjacent to Incheon International Airport. The place, known as ‘Inspire,’ is a $5 billion resort that will connect to unique private air terminal.
‘During the quarter, we reached an amicable agreement to purchase our South Korean partner’s stake in Project encourage … and furthering our diversification efforts in Asia, the entire world’s fastest-growing major gaming and entertainment market,’ MGE CEO Mario Kontomerkos stated.
The very first phase of the resort that is integrated cost $1.6 billion, and will feature 1,350 resort rooms, 20,000-square-foot casino with 1,500 slot machines and 250 table games, 15,000-seat theater, retail shopping, entertainment park, and multiple restaurants. The property is on schedule to open in 2020.
Mohegan Sun’s local partner in South Korea ended up being the KCC Corporation, a construction materials company.
Mohegan Sun is in a legal juggernaut in its home state over the legality of a satellite casino it’s jointly constructing with state tribal neighbor Mashantucket Pequots. (more…)