Mohegan Gaming & Entertainment resumes Incheon IR development
After completing financing last November, the company has announced it has resumed work at its Incheon integrated resort, Inspire Korea.
South Korea.- Mohegan Gaming & Entertainment (MGE) has announced that it has restarted work on its Incheon integrated resort, Inspire Korea after closing financing in November. The company said regulatory requirements were complete and structural steelwork and below-grade utility construction in place.
Last April, the company applied for and obtained a six-month delay to the agreed June 2022 opening date for the resort. Inspire Korea is now likely to open in the first half of 2023.
Inspire Korea Casino Resort 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 space. The Phase I resort development includes three five-star hotel towers, a 15,000-seat multifunctional professional performance arena and a foreigners-only casino.
Last November, the company raised US$1.55bn to continue developing the IR. The company said the aggregate funding will be used in Phase I of the project, which is set to be launched in the first half of 2023.
