{"id":14615,"date":"2021-02-12T13:23:36","date_gmt":"2021-02-12T13:23:36","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=14615"},"modified":"2026-04-23T21:52:22","modified_gmt":"2026-04-24T00:52:22","slug":"mohegan-looks-to-resume-work-on-korean-casino-project","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/mohegan-looks-to-resume-work-on-korean-casino-project","title":{"rendered":"Mohegan looks to resume work on Korean casino project"},"content":{"rendered":"\n<p>The US developer and operator says it is confident it will have the funds to resume construction at Inspire Korea within three months<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>South\u00a0Korea.-\u00a0<strong>Mohegan Gaming &amp; Entertainment<\/strong> has expressed confidence that it will secure the final <strong>funding it needs for the completion of Inspire Korea within the next three months<\/strong>.<\/p>\n\n\n\n<p>Construction of the South Korean integrated resort project was originally due to be completed <strong>sometime next year <\/strong>but work has been held up by the Covid-19 pandemic.<\/p>\n\n\n\n<p>The company has restructured the phased construction plan and <strong>pushed the launch date back to 2023<\/strong>.<\/p>\n\n\n\n<p>Mohegan\u2019s vice president of corporate finance, <strong>Chris Jones<\/strong>, said: \u201cKorea is in a very heightened sense of Covid restrictions. Even though they have a lower number of cases in that market they are very wary about it, so as a result <strong>we\u2019ve seen things slow down<\/strong>.&#8221;<\/p>\n\n\n\n<p>Jones revealed that <strong>US$200m of investment<\/strong> that was to be used in Phase 2 has been moved to Phase 1 in order to expedite development work as a result of the delays.<\/p>\n\n\n\n<p><strong>Caesars\u2019\u00a0Midan\u00a0City<\/strong>, the <em><strong><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/south-korean-ir-projects-face-delays\" target=\"_blank\">other major South Korean IR project<\/a><\/strong><\/em> being developed by a US gaming giant, is reported to be <strong>more than eight months behind schedule<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US developer and operator says it is confident it will have the funds to resume construction at Inspire Korea within three months<\/p>\n","protected":false},"author":176,"featured_media":14617,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Mohegan Gaming & Entertainment is confident in securing the final funding for its Inspire Korea integrated resort project within three months, despite COVID-19 related construction delays. The company has restructured its phased development plan, reallocating US$200m from Phase 2 to Phase 1 to expedite completion, pushing the launch to 2023. This development occurs as another major South Korean IR project, Caesars' Midan City, also faces significant delays.","focusai_entities":"Mohegan Gaming & Entertainment, Inspire Korea, Chris Jones, Caesars, Midan City","focusai_location":"South Korea","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":"Inspire Korea Funding Strategy","query":"What specific financing instruments is Mohegan Gaming & Entertainment leveraging to secure the remaining capital for Inspire Korea's Phase 1 completion, and what are the associated debt covenants or equity dilution implications?"},{"label":"GGR\/NGR Impact Analysis","query":"How will the revised phased construction plan and delayed launch to 2023 impact the projected Gross Gaming Revenue (GGR) and Net Gaming Revenue (NGR) ramp-up for Inspire Korea, particularly considering the evolving post-COVID market dynamics and competitive landscape?"}],"footnotes":""},"categories":[28,16338,158],"tags":[7027],"class_list":["post-14615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","category-slider-home","tag-mohegan-gaming"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14615","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=14615"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14615\/revisions"}],"predecessor-version":[{"id":14631,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14615\/revisions\/14631"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/14617"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=14615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=14615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=14615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}