Apart from the planned expansion in Connecticut, the leaders of Mohegan Sun eyed the Asian gambling market. Mere hours ago, representatives of the Mohegan Tribal Gaming Authority revealed more details about the casino project that has been on the agenda over the last couple of weeks.
According to a memorandum of understanding, the Connecticut-based tribe is to establish a casino resort in South Korea. It will be connected to the Incheon International Airport of South Korea and once the project is completed, it will be the first international business venture of the tribe.
The Mohegan Tribal Gaming Authority will work in collaboration with Miura Holdings – a Las Vegas-based company, for the establishment of a luxurious property spread on land, owned by the Incheon International Airport Corp.
Those who keep themselves informed about the project know that last week the two parties entered into talks and social media was flooded with comments and projections but the above-mentioned memorandum was signed just a few hours ago.
As far as the essence of the project is concerned, it is expected to feature a hotel complex consisting of 1,000 rooms, a jet terminal, an amusement park and various entertainment and shopping facilities.
The casino itself will spread over 18,500 square meters and players will have the opportunity to try their luck on 1,500 slot machines and 250 table games.
The CEO of Mohegan Tribal Gaming Authority, Mitchell Etess, was reached for a comment and said that the future property will feature details from the culture of the tribe.
As previously reported, the serious crisis that has befallen Macau-based casinos enabled the neighboring countries to successfully lure players who used to roll the dice in Macau casinos. It is a well-known fact that the anti-corruption campaign of the Chinese President Xi Jinping is a key factor for the record decrease in revenues and the weak economy.
It seems that South Korea is one of the countries that will benefit from the pessimistic situation in the Chinese administrative region as more and more investors are willing to become available on the South Korean gambling market.
However, for the time being, residents of the country are prohibited from entering casino premises except for the Kangwon Land Casino. Bearing this fact in mind, investors have to rely on foreigners in order to generate stable revenue.
Although Mohegan Sun failed in obtaining a license for building a casino in Massachusetts last year, the tribe has successfully entered new markets in the United States including Pennsylvania, New Jersey and Washington. They are currently seeking approval for building a new casino in Connecticut in order to deal with the competition coming from the neighboring states that are going to have their gambling markets untapped in the foreseeable future.
