S.Korea Project to Be Launched in 2022

U.S.-based tribal casino operator Mohegan Gaming and Entertainment told GGRAsia that the company is still working to achieve its goal of opening billions of casino resort projects in South Korea in 2022. This was confirmed by the company’s chief executive, Mario Kontomercos, despite the current challenges posed by the COVID-19 pandemic.

The project, known as Inspire, is located in Incheon, near the Korean capital of Seoul.

The global economy is expected to suffer as countries enforce lockdowns, curfews and other restrictions as part of efforts to curb the further spread of COVID-19. In several countries, only essential services have remained open during mandatory lockdowns to limit the spread of COVID-19, the disease caused by the novel coronavirus.

The impact of the COVID-19 pandemic has temporarily closed casinos in the Asia-Pacific region and other major gaming jurisdictions, including markets in Singapore, the Philippines, South Korea, Malaysia, Australia and the United States.

GGRAsia asked Mohegan Gaming if they expected the Inspire project to be disrupted by eventual construction delays due to Korean restrictions related to efforts to prevent the spread of COVID-19 in Korea. Mr. Kontomerkos replied, “Work continues regarding Inspire and we are working towards our 2022 goals.”

By 2022, the first phase of the Inspire project will include 1,250 hotel rooms, 15,000-seat entertainment venues, 40 food and beverage stores, and a foreign-only gaming venue with 160 table games and 700 slot machines, according to Mohegan Gaming’s latest annual report filed in December.

A total of $5 billion in capital investment was mentioned over several stages over 20 years. According to The Korea Times newspaper, the plan will be developed in four stages, with the last stage completed by 2031.

In December, Mohegan Gaming said it had reached an agreement with Hanwha, one of the biggest conglomerates in Korea, on a joint development of the project. Hanwha Engineering & Construction is the main contractor of the casino resort project, and Hanwha Hotels and Resorts will be responsible for the operation of the hotel when the plan begins.

BY: 안전한 파워볼사이트

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