Mohegan Sun Now Completely Controls South Korea Casino Project ‘Inspire’
Mohegan Sun, the casino operating unit of Connecticut’s Mohegan Tribe, is increasing its investment on the company’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 results for the 2017-18 year that is fiscal Mohegan Gaming Entertainment (MGE) revealed it has purchased out its local development partner in South Korea to simply take 100 % ownership in the under-construction integrated casino resort adjacent to Incheon International Airport. The place, understood as ‘Inspire,’ is a $5 billion resort that will connect to unique private air terminal.
‘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 world’s fastest-growing major gaming and entertainment market,’ MGE CEO Mario Kontomerkos stated.
The very first phase of the built-in resort will 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 had been 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.