South Korean casino to face delay
Mohegan Gaming and Entertainment announced a delay on South Korean casino’s opening.
South Korea.- US tribal casino group Mohegan Gaming and Entertainment revealed late last week that they are delaying the opening of its expected casino in South Korea. According to the firm’s CEO Mario Kontomerkos, the company is among at “an overall project opening for late 2020 or early 2021”.
The American tribal casino operators will invest US$1.2 billion in the South Korean gaming project. The venue 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 the existing 17 facilities 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.
