Midan City resort development to resume
South Korea’s Ministry of Culture, Sports and Tourism has granted a 12-month extension to the Midan City integrated resort complex construction deadline.
South Korea.- Plans to develop an integrated resort in Midan City, in Incheon Free Economic Zone, have resumed after Caesars halted funding last month.
US-based Caesars Entertainment backed out of plans to develop the Midan City complex and sold its entire 50 per cent stake to former partner Guangzhou R&F Properties Co.
The South Korean Ministry of Culture, Sports and Tourism has now granted a twelve-month extension to the previous construction deadline, which was set for this month. That would mean an opening date in 2022.
The Midan City Resort Complex will include a casino, 750 hotel rooms, a theater, and a convention space once it is operational.
Mohegan’s Inspire resort puts back opening date
Another Incheon IR project is being developed by Mohegan Gaming & Entertainment. The US developer and operator has applied for a six-month delay to the agreed June 2022 opening date.
The company has restructured the phased construction plan due to the global Covid-19 pandemic, but the Ministry of Culture, Sports and Tourism has yet to give its verdict on Mohegan’s application to delay the opening date to the end of 2022.
Phase one is expected to include 150 gaming tables, 700 electronic gaming machines, close to 1,250 hotel rooms, a 15,000-seat arena and a 19,000-square metre conference.
