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 regarding 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 2nd quarter financial results for the 2017-18 fiscal year, Mohegan Gaming Entertainment (MGE) revealed it has purchased out its local development partner in South Korea to simply take 100 per cent ownership in the under-construction integrated casino resort adjacent to Incheon International Airport. The location, understood as ‘Inspire,’ is a $5 billion resort that will connect to its own air terminal that is private.
‘During the quarter, we reached an agreement that is amicable 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 first phase of the built-in resort will price $1.6 billion, and will feature 1,350 hotel rooms, 20,000-square-foot casino with 1,500 slots and 250 table games, 15,000-seat theatre, retail shopping, amusement 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 juggernaut that is legal its home state over the legality of the satellite casino it’s jointly constructing with state tribal neighbor Mashantucket Pequots. (más…)