Mohegan to discuss Inspire project with Korean government
South Korean officials will meet the company’s representatives to discuss its casino project in the country.
South Korea.- US tribal company Mohegan Gaming and Entertainment will meet with officials from the Ministry of Culture, Sports and Tourism (MCST) to discuss its casino project. Later in August, representatives will exchange with the local government how they will conduct its venture next to Incheon International Airport.
The company is known as Mohegan Sun and based in the state of Connecticut, in the United States. The U.S. regional tribal casino operator is building an integrated resort, to be called Inspire (pictured in an artist’s rendering), next to Incheon International Airport, spending US$1.6 billion on the first phase, which is due to open in 2021.
“The most important next step – as it relates to the Inspire development – is a meeting that we’ll be having with the MCST in late August and into early September,” CFO Drew Kelly said on a conference call with investment analysts where they discussed the project which is due to open in 2021 and will get a US$1.6 billion investment in the first phase.
“We are preparing a set of information for them, which we believe will be well received and will otherwise speak to the unique aspect of this truly integrated resort and how it will be a dominant property in the market,” he stated and added: “As a product of that, we’ll be providing an update on the financing structure.”
The venue is set to include three hotels with over 1,000 rooms, more than 11,000 square metres of event space, a 15,000-seat indoor entertainment area, several amenities and a casino floor 25,000 square-metres large, which will have 180 gaming tables and 700 slot machines.
