× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine GGA 2017 AffiliateCon
NEWS 9 May 2018
Mohegan Sun takes sole ownership of Incheon casino project
By Robert Simmons

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.

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.”

RELATED TAGS: Land-Based | Industry | Marketing | Casino
DISCUSS THIS ARTICLE
IN-DEPTH 21 May 2018
#WeAllWantToPlay: Diversity in the gaming Sector
Micky Swindale, Partner at KPMG reflects on the lack of diversity in the gaming industry and what has spurred this growing trend. Using the past as a guide, Micky considers how the industry might redress the issue
READ MORE
PREMIUM CONNECTIONS