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 in the business’s first project that is international.
Mohegan Sun is living as much as its ‘a world at play’ motto by venturing to South Korea.
Announcing its 2nd quarter financial results for the 2017-18 financial year, Mohegan Gaming Entertainment (MGE) revealed it has purchased out its local development partner in South Korea to just take 100 % ownership in the under-construction integrated casino resort adjacent to Incheon International Airport. The venue, understood as ‘Inspire,’ is a $5 billion resort that will connect to its very own air terminal that is private.
‘During the quarter, we reached an amicable contract to purchase our South Korean partner’s stake in Project Inspire … and furthering our diversification efforts in Asia, the world’s fastest-growing major gaming and entertainment market,’ MGE CEO Mario Kontomerkos stated.
The 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, enjoyment park, and multiple restaurants. The property is on schedule to open in 2020.
Mohegan Sun’s local partner in South Korea was the KCC Corporation, a construction materials company.
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