Mohegan Sun Group and KCC Corp to build casino in South Korea

A Native American tribe and a Korean chemicals maker won a bid in the Asian country to develop a US$1.2 billion casino.

South Korea.- A consortium led by Mohegan Tribal Gaming Authority and KCC Corp was chosen to build a $1.2 billion casino resort. The developers plan to break ground in 2017 and start operations in early 2020.

The project will feature an integrated resort, including a foreigner-only casino, a luxury hotel and shopping areas, a K-pop entertainment arena and an amusement park on an island in Incheon, west of Seoul, said the Tourism Ministry. Furthermore, the ministry expressed that the latest project aims to capitalise on Macau’s weakness, which has been hit by tighter regulations, a crackdown on corruption and a weakening mainland economy.

South Korea’s government seeks to bring in foreign investment and tourists, creating a business environment to attract more than 25 trillion won in investment to build the tourism industry and corporate competitiveness.

The government also plans to increase the number of casinos in the nation from its existing 17 casinos to over 20 by early 2020. Most of these casinos are smaller than those in Macau and Las Vegas, the world’s biggest casino hubs.