{"id":15998,"date":"2021-03-18T15:53:06","date_gmt":"2021-03-18T15:53:06","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=15998"},"modified":"2026-04-23T21:01:28","modified_gmt":"2026-04-24T00:01:28","slug":"midan-city-resort-development-to-resume","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/midan-city-resort-development-to-resume","title":{"rendered":"Midan City resort development to resume"},"content":{"rendered":"\n

South Korea\u2019s Ministry of Culture, Sports and Tourism has granted a 12-month extension to the Midan City integrated resort complex construction deadline.<\/p>\n\n\n\n\n\n\n\n

South Korea.- Plans to develop an integrated resort in Midan City<\/strong>, in <\/strong>Incheon Free Economic Zone, have resumed after Caesars halted funding last month<\/strong>.<\/p>\n\n\n\n

US-based Caesars Entertainment backed out of plans<\/a><\/em> to develop the Midan City complex<\/strong> and sold its entire 50 per cent stake<\/strong> to former partner Guangzhou R&F Properties Co<\/strong>.<\/p>\n\n\n\n

The South Korean Ministry of Culture, Sports and Tourism has now granted a twelve-month extension to the previous construction deadline<\/strong>, which was set for this month. That would mean an opening date in 2022.<\/p>\n\n\n\n

The Midan City Resort Complex will include a casino<\/strong>, 750 hotel rooms, a theater, and a convention space once it is operational.<\/p>\n\n\n\n

Mohegan\u2019s Inspire resort puts back opening date<\/h2>\n\n\n\n

Another Incheon IR project <\/strong>is being developed by Mohegan Gaming & Entertainment<\/a><\/em>. The US developer and operator has applied for a six-month delay<\/strong> to the agreed June 2022 opening date.<\/p>\n\n\n\n

The company has restructured the phased construction plan due to the global Covid-19 pandemic<\/strong>, but the Ministry of Culture, Sports and Tourism has yet to give its verdict on Mohegan\u2019s application to delay the opening date to the end of 2022<\/strong>.<\/p>\n\n\n\n

Phase one is expected to include 150 gaming tables<\/strong>, 700 electronic gaming machines, close to 1,250 hotel rooms, a 15,000-seat arena and a 19,000-square metre conference<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

South Korea\u2019s Ministry of Culture, Sports and Tourism has granted a 12-month extension to the Midan City integrated resort complex construction deadline.<\/p>\n","protected":false},"author":176,"featured_media":15999,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"South Korea's Ministry of Culture, Sports and Tourism has granted a 12-month construction deadline extension for the Midan City integrated resort, following Caesars Entertainment's divestment of its stake to Guangzhou R&F Properties Co. Concurrently, Mohegan Gaming & Entertainment has sought a six-month delay for its Inspire resort in Incheon, citing global pandemic impacts, with the Ministry's decision pending. These developments highlight ongoing challenges and regulatory flexibility in the South Korean IR market.","focusai_entities":"South Korea\u2019s Ministry of Culture, Sports and Tourism, Caesars Entertainment, Guangzhou R&F Properties Co, Mohegan Gaming & Entertainment","focusai_location":"South Korea, Incheon, Midan City","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.8), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Midan City Funding Impact","query":"What are the long-term implications of Caesars Entertainment's divestment and Guangzhou R&F Properties Co.'s sole ownership on the Midan City IR's capital structure and operational strategy?"},{"label":"Regulatory Precedent","query":"Does the Ministry of Culture, Sports and Tourism's decision to grant extensions for both Midan City and potentially Inspire set a new precedent for regulatory flexibility in South Korean IR development, particularly concerning force majeure events like global pandemics?"}],"footnotes":""},"categories":[28,16338],"tags":[23795,14017],"class_list":["post-15998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","tag-caesars-entertainment","tag-integrated-resort"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15998","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=15998"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15998\/revisions"}],"predecessor-version":[{"id":16032,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15998\/revisions\/16032"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15999"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=15998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=15998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=15998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}