Mohegan Gaming finalizes financing for South Korea project
UNCASVILLE, Conn. (AP) — Mohegan Gaming & Entertainment, the corporation that owns the Mohegan Tribe’s various gambling enterprises, announced Monday it has completed the $1.5 billion in financing needed to develop the first stage of a casino and entertainment resort in South Korea.
The initial phase of the Inspire Entertainment Resort, to be built on Yeongjong Island in Incheon, South Korea, about 25 miles (40 km) from Seoul, is targeted to open in 2023. It is expected to include more than 1,200 guest rooms in three hotel towers, a 15,000-seat arena, a foreigners-only casino, an indoor water park, convention facilities and other amenities.
Bobby Soper, international president for MGE, said the corporation is anticipating a “significant rebound in the tourism and leisure industry following the pandemic.”
The Mohegan Tribe owns and operates Connecticut’s Mohegan Sun, one of the largest casinos in North America.
The Mohegans were awarded a license by the South Korean government in 2016 to develop a $5 billion resort at Incheon International Airport. It will be the tribal corporation’s first international project.