• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

KCC buys into Mohegan Sun subsidiary in South Korea

Nov 23, 2015 Newsdesk Latest News, Rest of Asia, Top of the deck  


KCC buys into Mohegan Sun subsidiary in South Korea

South Korean chemicals manufacturer KCC Corp on Friday announced it had acquired a 24.5-percent stake in Inspire Integrated Resort Co Ltd, a company that plans to develop a casino resort and amusement park near South Korea’s Incheon International Airport.

U.S. regional tribal casino operator Mohegan Tribal Gaming Authority, known as Mohegan Sun, has said it established the Inspire Integrated Resort entity in order to pursue potential gaming opportunities in South Korea. As of June 30, Inspire Integrated Resort was 100 percent owned by Mohegan Sun.

In Friday’s filing to the Korean Exchange, KCC Corp said it was investing KRW203.8 billion (US$176 million) to buy nearly 2.04 million shares of Inspire Integrated Resort.

KCC Corp provides products for the construction, automotive, electronics, consumer and industrial appliance, and fast-moving consumer goods industries in South Korea and internationally.

Mohegan Sun confirmed to GGRAsia a fortnight ago it would submit a proposal to build an integrated resort – including a foreigners-only casino – in South Korea’s Incheon Free Economic Zone.

The deadline for submissions under a request for proposal process, being held by South Korea’s Ministry of Culture, Sports and Tourism, is this Friday, November 27. The country’s government is poised to issue up to two new gaming licences, and the winners are expected to be announced before the end of this year.

It had been reported in August that the competition had been slimmed to nine contenders for up to two permits.

Mohegan Sun’s project (pictured in a rendering) includes a 20,000-square metre (215,278-sq. feet) casino with 250 gaming tables and 1,500 slot machines. It would also have a private air terminal, which would be part of the resort.

In addition to the private air terminal and casino, the property would have a two-tower luxury hotel complex with 1,000 rooms, a 20,000-seat arena, and more than 18,500 sq. metres of shops, restaurants, art exhibitions and music entertainment areas.

The total cost of the first phase is estimated at US$1.6 billion, with a commitment to spend a total of US$5 billion over 20 years, according to Mohegan Sun.

Two casino operators – Grand Korea Leisure Co Ltd and Hong Kong-listed NagaCorp Ltd – that were identified in South Korean media reports as interested in a South Korean integrated resort licence, have recently separately issued statements saying they would not pursue such permits.


  • tweet
Related articles
  • Only 2 of 8 Jeju casinos now open as Gongzi Jeju shuts
    Only 2 of 8 Jeju casinos now open as...

    Apr 15, 2021  

  • Mohegan to cut debt/EBITDA soon says Moody’s
    Mohegan to cut debt/EBITDA soon says...

    Apr 12, 2021  

More news
  • VIP gaming not defined in Japan draft rules: IR Forum
    VIP gaming not defined in Japan draft...

    Apr 21, 2021  

  • GEN Malaysia likely 2021 loss amid pandemic: Maybank
    GEN Malaysia likely 2021 loss amid...

    Apr 21, 2021  


Latest News

VIP gaming not defined in Japan draft rules: IR Forum

VIP gaming not defined in Japan draft rules: IR Forum

Apr 21, 2021  

Japan’s draft regulations for casinos, undergoing public consultation until May 9, still require clarifications in key areas, including the definition of VIP play, says Kentaro Maruta (pictured) of...
Read More
GEN Malaysia likely 2021 loss amid pandemic: Maybank

GEN Malaysia likely 2021 loss amid pandemic: Maybank

Apr 21, 2021  

Macau 1Q gaming suspect transaction reports up 2pct

Macau 1Q gaming suspect transaction reports up 2pct

Apr 21, 2021  

Macau govt, analysts tip May Day bounty at casino resorts

Macau govt, analysts tip May Day bounty at casino resorts

Apr 20, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We are filled with gratitude and excitement as we approach our opening this June and hope to play a role in Las Vegas’s rebound after what has been an incredibly challenging year”

Scott Sibella

President of Resorts World Las Vegas



Most Popular

  • Macau gaming demand recovering comfortably: analystsMacau gaming demand recovering comfortably: analysts April 20, 2021
  • Talks on NagaWorld lay-offs amid pandemic: sourceTalks on NagaWorld lay-offs amid pandemic: source April 19, 2021
  • NUSTAR complex in Cebu slated to open 2022: UHRINUSTAR complex in Cebu slated to open 2022: UHRI April 16, 2021
  • Macau govt, analysts tip May Day bounty at casino resortsMacau govt, analysts tip May Day bounty at casino resorts April 20, 2021
  • Macau VIP GGR up 20pct sequentially in 1Q: govtMacau VIP GGR up 20pct sequentially in 1Q: govt April 16, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us