Japan: Mohegan still interested in developing IR
“We see Japan as a great source of opportunity for tourism and integrated entertainment resort development,” Mohegan CEO Mario Kontomerkos said.
Japan.- Mohegan Gaming & Entertainment is still interested in developing an IR in Japan and is evaluating its options in the country.
The firm’s Chief Executive, Mario Kontomerkos, told GGRAsia that although they are focused on Inspire, a resort with a foreigner-only casino near South Korea’s main airport at Incheon, they are always interested in resorts in the global market.
“While we are unable to confirm specific regional locations, Mohegan Gaming and Entertainment is a company that specialises in large-scale master-planned resort development in global destination markets, including a new, world-class integrated entertainment resort… located at one of the busiest airport hubs in Northern Asia,” Mr Kontomerkos said.
“We see Japan as a great source of opportunity for tourism and integrated entertainment resort development and will continue to seek large entertainment markets where our unique product can truly shine to sophisticated and mobile consumers,” he added.
Mohegan was initially interested in pursuing an IR in Hokkaido and even opened an office in the region less than to months ago. But then the Governor of Hokkaido confirmed that the prefecture would not fight for an IR licence.
The company has partnered with Hanwha Corp to build its IR near Incheon, which is set to to be open in 2022. It will also provide the project with important local operational expertise and credit enhancement.
The resort will be the largest in the country when completed. It will have four phases with all stages to be finished by 2031.
The first phase will include the hotel, with 1,256 rooms, the 15,000-seat arena, convention halls and a foreigner-only casino. This phase will cost $1.29 billion. The second stage will start in 2021, and includes the Paramount Pictures indoor theme park scheduled to open by 2025. The outdoor theme park is expected to start in 2024.
