The Mohegan Tribal Gaming Authority in the United States had announced in April 2015 that it wanted to venture into international territory and set up a casino in South Korea. The tribal gaming authority also called the Mohegan Sun recently reported that it has completed a ‘concept agreement’ of a mega casino resort that it plans to construct in South Korea.
Mohegan Sun has entered into a partnership with South Korea’s Incheon International Airport Corp (IIAC) to construct a casino that is currently being called the ‘Inspire Integrated Resort’. The casino is expected to constructed on 215,278 square meters and have 1,500 slot machines and 250 card tables. The tribe will be able to proceed with the project only when South Korea’s Ministry of Culture, Sports and Tourism grant them a gaming license.
The ‘Inspire Integrated Resort’ is expected to have over one thousand rooms that will be spread across two luxury hotel tower complexes and over 60,700 square feet allotted to an art exhibition center, a music entertainment arena, a native American cultural and arts experience and a Korean village that promotes Korean cuisine and music. The resort will also feature an amusement park that is expected to have a seating capacity of 20,000 and a special Korean cosmetic and beauty hub. The entire resort will be constructed on the grounds of the Incheon International Airport making it an ideal destination to attract tourists into the casino resort.
In a statement, Bobby Soper, the president of the Mohegan Sun Tribal Gaming Authority said “We are pleased to progress to the next stage of our proposed partnership with IIAC by finalising a conceptual agreement on Inspire. We are excited to extend the unique Mohegan Sun brand with the support and collaboration of IIAC as we work to develop a must-visit destination. We also look forward to playing a meaningful role in contributing to Korea’s dynamic economy.”
Once all the necessary licenses have been approved, then the initial phase of this mega project will generated around US$1.6 billion for South Korea in terms of direct foreign investment. Once the project is completed, it is expected to create around 24,000 jobs for the South Korean market.
The Mohegan Sun has not revealed the estimated cost of the entire project but it is expected to spend around US$320 million for the entertainment arena, US$140 million for the planned theme park and an additional US$35 million for a private air terminal. The Mohegan Sun expect to reach an agreement with South Korean government officials and have a signed proposal on the ‘scope of work’ submitted before the end of 2015.