Mohegan Gaming and Entertainment releases hopeful South Korea update

Casino News

American tribal casino operator Mohegan Gaming and Entertainment has reportedly declared that it is now hopeful of being able to start welcoming guests to its Inspire Entertainment Resort development in South Korea during the second quarter of 2023.

According to a report from Inside Asian Gaming, the enterprise of the United States’ federally-recognized Mohegan Tribe began work on the impressive three-tower casino resort in 2016 with plans to begin opening by the middle of next year. However, the source detailed that this schedule was later scuppered as a result of delays linked to the coronavirus pandemic and the complexities associated with securing adequate sources of funding.

Additional allowance:

Facing the prospect of losing its gambling license for the coming venue altogether and Mohegan Gaming and Entertainment subsequently asked the government of South Korea for a six-month extension to its original deal. The Connecticut-based operator was later reportedly granted this extra time to take the envisioned opening date for the enterprise to no later than the end of June of 2023.

Enthusiastic expectation:

Bobby Soper, International President for Mohegan Gaming and Entertainment, reportedly used a recent interview to declare that his firm now intends to begin opening its five-star Inspire Entertainment Resort ‘hopefully in the second quarter of 2023’. But the man who served as the operator’s boss for two years until February of 2017 moreover purportedly pronounced that any delays could result in this ultimate being pushed to the ‘third quarter latest 2023.’

Soper reportedly proclaimed…

It’s been a rollercoaster, we’ve had our ups and downs, and coronavirus certainly threw a curve ball. But, we’re in the ground and we have significant investment in the ground. We need to finalize some of the final financing and I just spent two and half months in South Korea pursuing that. I think we are far along.”

Striking scheme:

Being built on a 1,079-acre plot of Yeongjong Island land near the port city of Incheon, the $1.6 billion Inspire Entertainment Resort is reportedly expected to eventually feature some 1,300 hotel rooms as well as a 215,200 sq ft foreigner-only casino offering a selection of up to 1,500 slots as well as some 250 gaming tables. All of this is to purportedly be complemented by a 15,000-seat arena, a 24-acre amusement park, a convention center and a host of retail and dining venues.

Competitor consideration:

The extension granted to Mohegan Gaming and Entertainment in late-March reportedly followed a similar move concerning the nearby Midan City Resort Complex from Chinese developer Guangzhou R&F Properties Company Limited. This $800 million development formerly known as Caesars Korea had originally been scheduled to open at the other end of Yeongjong Island earlier this year but was purportedly granted a twelve-month adjustment after suffering through a similar raft of coronavirus-related delays alongside the subsequent February departure of former operating partner Caesars Entertainment Incorporated.

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