American tribe delays casino proposal
American tribe Mohegan has announced a delay on its gaming project in South Korea.
South Korea.- The Mohegan Sun casino in South Korea is suffering several delays, as reported by the operators, the American Native Tribe of Mohegan. The official entity of the tribe, Mohegan Gaming and Entertainment revealed last week that they are postposing the ground breaking in the country for 2018.
The Mohegan Sun South Korean casino will offer international services such as foreigner-only casino; three hotel towers with a total of 1,350 rooms; a 15,000-seat arena; a theme park; convention space; and shops and restaurants. The project will be based on the initial investment of US$1.6 billion, with a total commitment of US$5 billion for multiple phases over a period of 20 years.
South Korea’s government seeks to bring in foreign investment and tourists, creating a business environment to attract more than 25 trillion won in investment to build the tourism industry and corporate competitiveness.
The government also plans to increase the number of casinos in the nation from the existing 17 facilities to over 20 by early 2020. Most of these casinos are smaller than those in Macau and Las Vegas, the world’s biggest casino hubs.
“Looking internationally, the company is well into the planning stage of its Korean joint venture, Project Inspire,” stated representatives of Mohegan Sun.
