Caesars Entertainment and Mohegan Gaming & Entertainment both have projects in the country.<\/p>\n\n\n\n\n\n\n\n
South Korea.- American operators involved in the development of integrated resorts (IR) in South Korea have reported delays due to the Covid-19 pandemic.<\/p>\n\n\n\n
Reports say Caesars Entertainment and Mohegan Gaming & Entertainment have been experiencing problems obtaining the necessary funding to complete projects. <\/p>\n\n\n\n
South Korean news outlets cited information from the Incheon Free Economic Zone Authority saying\u00a0that Caesars Korea and Mohegan\u2019s Inspire have had\u00a0\u201cdisagreements\u201d with investors and with local developers, who are demanding outstanding debts be fully paid and further funding secured before construction continues.\u00a0<\/p>\n\n\n\n
Caesars\u2019 Midan City project is reported to be more than eight months behind schedule, with work paralysed since February. <\/p>\n\n\n\n
The Mohegan Inspire project is said to be considering an additional investment of equity capital to find the necessary funds to pay developers.<\/p>\n\n\n\n
The US$1.6 billion phase I of the project is due to be launched in 2022, with 150 gaming tables, 700 EGMs, a 15,000-seat arena, dining and retail, a 19,000-square meter conference and convention space, and 1,250 hotel rooms near Incheon Airport. <\/p>\n","protected":false},"excerpt":{"rendered":"
Caesars Entertainment and Mohegan Gaming & Entertainment both have projects in the country.<\/p>\n","protected":false},"author":2,"featured_media":11077,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"American operators Caesars Entertainment and Mohegan Gaming & Entertainment are experiencing significant delays and funding challenges for their integrated resort projects in South Korea. Issues stem from investor disagreements and outstanding debts to local developers, exacerbated by the Covid-19 pandemic. Caesars' Midan City project is over eight months behind schedule, while Mohegan's Inspire is exploring additional equity capital to secure the US$1.6 billion Phase I completion by 2022.","focusai_entities":"Caesars Entertainment, Mohegan Gaming & Entertainment, Caesars Korea, Mohegan\u2019s Inspire, Incheon Free Economic Zone Authority","focusai_location":"South Korea, Incheon","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Funding Resolution Strategy?","query":"What specific strategies are Caesars Entertainment and Mohegan Gaming & Entertainment implementing to resolve the funding impasses with investors and local developers, and what is the projected timeline for securing the necessary capital?"},{"label":"Market Entry Impact?","query":"How will these protracted delays in the South Korean IR projects affect the long-term market entry strategies and competitive positioning of Caesars and Mohegan within the broader Asian gaming landscape?"}],"footnotes":""},"categories":[28,16338,158],"tags":[23795,7027,152],"class_list":["post-11074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","category-slider-home","tag-caesars-entertainment","tag-mohegan-gaming","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11074"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11074\/revisions"}],"predecessor-version":[{"id":19704,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11074\/revisions\/19704"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11077"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}