U.S. regional tribal casino operator Mohegan Gaming and Entertainment is delaying to 2018 the ground breaking for its new casino resort in Incheon, near South Korea’s capital Seoul, reported Connecticut, U.S.-based The Day newspaper.
The outlet quoted company chairman Kevin Brown saying the start of construction had to be pushed back because the partners needed more time to secure the necessary permits. “We’re retargeting for next spring,” Mr Brown reportedly said.
The U.S. casino firm – also commonly known as Mohegan Sun – is one of the investors in the scheme, dubbed the Inspire project (pictured in an artist’s rendering). The other consortium partner is South Korean chemicals manufacturer KCC Corp. Incheon International Airport Corp, the operator of the air hub next door to the project, is also involved in the scheme.
The firm has previously stated it expected to break ground before the end of calendar year 2017, targeting to open the first phase by 2020.
The first phase of the scheme has an estimated budget of US$1.6 billion, with a total commitment of US$5 billion for multiple phases over a period of 20 years, according to previous information from Mohegan Gaming and Entertainment.
The project – Mohegan Gaming and Entertainment’s first venture outside North America – would include a foreigner-only casino; three hotel towers with a total of 1,350 rooms; a 15,000-seat arena; a theme park; convention space; and shops and restaurants.
Mohegan Gaming and Entertainment currently only has operations in the United States. It owns and operates Mohegan Sun, a large-scale casino complex in Connecticut. The firm also owns and operates Mohegan Sun Pocono, in Pennsylvania. It additionally manages gaming facilities in Washington, Louisiana and Atlantic City.
The Day newspaper additionally reported that Incheon City Mayor, Yoo Jeong-bok, visited the Connecticut property last weekend, signing a “non-binding cooperation agreement” with Mohegan Gaming and Entertainment. “We brought him to Mohegan and gave him the same tour we give most officials and guests of everything we offer at Mohegan Sun,” Mr Brown was quoted as saying.
In September, the U.S. regional tribal casino operator appointed Mario Kontomerkos as the firm’s new chief executive, effective from October 16.
Sep 21, 2021Chinese real estate developer Guangzhou R&F Properties Co Ltd says it will borrow HKD8 billion (US$1.03 billion) from two people who are major shareholders and company executives, in order to pay...
Sep 21, 2021
”The Macau government is not aiming to trivialise or drive out the junket sector, but to regulate the sector so that it would not hurt Macau’s reputation”
Alvin Chau Cheok Wa
Chief executive of privately-held VIP junket business Suncity Group