US$ 5bn casino resort in South Korea to break ground before year

Mohegan Gaming Chief executive Mitchell Etess, stated: "The company is well into the planning stage of its South Korean joint venture, project Inspire, where we anticipate breaking ground before the end of calendar 2017.”

The tribe had announced its partnership with Incheon International Airport Corporation and South Korean chemicals manufacturer KCC Corporation, regarding the construction of Inspire Integrated Resort. Under this agreement, Mohegan Sun expects to receive US$ 40m over the development period for the project.

The Mohegan Tribal Gaming Authority’s first venture outside of North America will be developed in several phases. The first phase of the resort comes with a budget of US$1.6bn, according to Mohegan Sun, with additional phases over a 20-year period expected to bring the resort’s total investment to $5bn.

The plan for Inspire details more than 300,000- sqmt of gaming and entertainment space with 250 tables and 1,500 slot machines. It will also be the first and only destination resort in the world with an adjacent private air terminal. The integrated resort will house a two-tower luxury hotel complex with 1,000 guest rooms, which will be split between 300 6-star rooms and 700 5-star rooms.

Source: GMB / Innovate Gaming