The Mohegan Sun, a tribal gambling operator from Connecticut, will soon begin construction on its very first International casino project in South Korea. The project will see Mohegan Sun build a $5 billion casino resort. Construction on the new resort is expected to begin before the end of 2017, something that was revealed by Mohegan Sun’s CEO during a conference call.
Mohegan Sun will begin construction of its $5 billion casino resort in South Korea before the end of 2017.
Mohegan Sun Aiming for 2020 Opening
The South Korean Resort was thought to be in serious trouble, even possibly canceled. However, the news from the CEO puts these fears to rest, and the project is definitely going ahead. The new casino, which is only known as project Inspire at this time, will be built alongside the Incheon International Airport, which is the busiest airport in South Korea. In 2016, 58 million people passed through the airport.
The CEO of Mohegan Sun has said that construction of phase one will begin before the end of 2017 and will cost around $1.6 billion. Completion of the first phase is expected to happen in 2020.The South Korean resort will have nearly 1400 hotel rooms, as well as a large gambling area with 1500 slot machines and 25 table games. There will also be a concert venue capable of seating 15 000 people, shops and restaurants, and an amusement park.
Delays Explained by Mohegan Sun
The resort will also be directly connected to the adjacent airport, making this the first resort with its own private air terminal at a major airport. Once the first phase of construction is complete, the remaining phases will be built over the next 20 years. This is estimated to cost an additional $3.4 billion.
Mohegan Sun announced plans to build this resort in 2015. However, there were numerous delays. Some suspected that increased tensions with North Korea, which is only 25 miles away, was the cause. Mohegan Sun has denied this and says the delays came from obtaining the required permits and finalizing financial agreements.