Mohegan’s South Korea casino on track for 4Q launch
The company said it does not plan to invest further in the IR beyond the US$119m already announced.
South Korea.- Mohegan Tribal Gaming Authority (MTGA) has announced that Mohegan’s Inspire Korea is on track for a 4Q launch. Sharing financial results for the three months to March 31, chief financial officer Carol Anderson added that MTGA had committed US$119m to the project and does not anticipate any further investment.
The resort in Yeongjong Island’s Free Economic Zone will feature a three-tower luxury hotel with 1,256 rooms, a 15,000-seat arena to host concerts and sporting events and a foreigner-only casino with 700 slot machines.
Ray Pineault, chief executive of Mohegan Gaming, said construction of Phase I is over 70 per cent completed. The casino licence itself is subject to conditions following the opening of the non-gaming amenities, but MTGA is confident that it will be able to meet these.
Chen Si, COO of the property, previously said the entire resort, including the casino, is expected to open in the first quarter of 2024. Inspire Korea will be the second IR in the area after Paradise City – a joint venture partnership between Korea’s Paradise Co and Japanese gaming firm Sega Sammy Holdings.
