Published
Land-BasedCasinoMarketingIndustry

Mohegan Sun takes sole ownership of Incheon casino project

Mohegan Gaming & Entertainment, the company which runs the Mohegan Sun chain of casino resorts, has announced the signing of an agreement to buyout its fellow developers stake in a casino project currently underway in Incheon, South Korea.

moheganincheon

The unnamed South Korean company first purchased a 24.5% stake in what is known as ‘Project Inspire’ in 2015.  Mohegan Gaming & Entertainment has bought this stake back for an undisclosed fee, making them the sole owner of the $1.6bn casino project.

Project Inspire is a casino resort project featuring a number of hotel towers and a 20,000 square-foot casino encompassing over 250 gaming tables and 1,500 slot machines. The project also includes a 15,000 seat arena with an indoor-outdoor amusement park and is expected to open in 2021.

The completed casino resort will be the Mohegan’s first outside of the continental US.

Mohegan Gaming & Entertainment is owned by the Mohegan tribe of Indians owns and operates large-scale casinos in the US states of Connecticut, Washington, Louisiana and New Jersey.

Speaking about the deal, Mohegan Gaming & Entertainment CEO, Mario Kontomerkos, called the deal "a very important step" in the company’s international ambitions.

Kontomerkos added: “We view our position in Korea as highly advantageous, as when we open we will be the only true integrated entertainment resort in Northern Asia — an enviable position given our proximity to Shanghai, Beijing, Seoul and Tokyo.”


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...