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In casino license pending South Korea - Mohegan Sun
Mohegan Sun has just announced that it has completed a conceptual agreement of its casino project in South Korea. The project was announced last April by Mohegan Sun in partnership with the local company Incheon International Airport Corp. (IIAC). Called "Inspire Integrated Resort", this project plans to provide a gaming facility of 20,000 m2 with 250 tables and 1,500 slot machines. In its press release, Mohegan Sun announced that it still needs the gaming license from the Ministry of Culture, Sports and Tourism of South Korea to develop the project. The property includes a complex of two towers with 1,000 rooms, a private airport, restaurants, art exhibition hall, a theater, a beauty salon and Korean cosmetics, an amusement park, and more than 18,500 m2 of commercial area.
Mohegan Sun and IIAC estimate that the private airport construction will cost $ 35 million. The company did not provide figures on the total construction of the complex, but the theater and the theme park amount are respectively $ 320 million and $ 140 million. However, an investment of $ 1.6 billion will be allocated to the first phase of construction. The new complex will be a potential competitor of Paradise City casino operated by the local company Paradise Co Ltd and its Japanese partner Sega Sammy Holdings. The two companies have invested $ 1.7 billion in the renovation of this gambling establishment, which is scheduled to open in 2017.
Source: Jack SMITH
Tuesday, 07 July 2015
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