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Land-BasedCasinoLegal & Regulatory

Mohegan Tribal Gaming Authority granted South Korea casino licence

The

SouthKorea
Mohegan Tribal Gaming Authority (MTGA) has been awarded a licence to develop an integrated resort in South Korea.

The MTGA, which already operates Mohegan Sun properties throughout the United States, will build a "first-of-its kind" $5bn resort at Incheon International Airport along with its partners KCC Corporation and Incheon International Airport Corp (IIAC).

The multi-phase development project, named Project Inspire, will include a 20,000 square metre casino with 250 tables and 1,500 slot machines.

It will also feature a three-tower luxury hotel complex with 1,350 five star and six star guest rooms, over 20,000 square metres of luxury retail brands, and more than 20 food and beverage outlets.

Additionally, the project will boast the largest entertainment arena in South Korea, with capacity for up to 15,000 attendants at cultural and sporting events.

There will also be a Paramount Studios-themed amusement park and an adventure park featuring indoor rock climbing, zip lining, an indoor rainforest, and an archaeology experience.

The resort will be the first and only in the world with an adjacent private air terminal.

Phase 1 of Project Inspire is estimated to cost $1.6bn.

Mohegan Sun is joined in the project by Miura Holdings Asia, a multi-purpose investment vehicle focused on gaming, hotel and food & beverage activities in the United States and Asia.

“We are pleased with the Korean government’s decision to award us the opportunity to help fulfil their vision of driving economic development by growing tourism, creating jobs, and showcasing Korean culture via the integrated resort,” said Bobby Soper, president of MTGA.

MTGA is an instrumentality of the Mohegan Tribe of Indians of Connecticut, a Native American tribe with an approximately 544-acre reservation situated in southeastern Connecticut.

KCC Corporation is a construction products company based in Korea that concentrates on developing high value-added products based on high energy efficiency and environmentally friendly technology.

Its chairman, Chung Mong-Jin, said the integrated resort would be "instrumental in bringing new generations of tourists to Incheon".

Mr. Chung Il-young, CEO of the Incheon International Airport Corporation added: “We deeply appreciate the careful review that the Korean government has conducted on this bold new initiative for tourism in Korea.

"Its selection of the Inspire project at IBC-II is wonderful news for the Incheon region and will serve as a catalyst for growth in the airport development zone for years to come.”

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