The Mohegan Tribal Gaming Authority (MTGA) has applied for a casino license for the operation of an integrated casino resort located not far from the Incheon International Airport in South Korea, Chief Executive Robert Soper confirmed on Friday.
The Mohegan Tribe is one of Connecticut’s two federally recognized tribes, authorized to run casinos within the state’s borders. Its gaming authority – the MTGA – currently runs Mohegan Sun, a hotel and casino complex in Uncasville. Tribal officials have been interested in expanding gambling operations outside the USA for some time now.
Mr. Soper flew to South Korea, where local authorities accepted responses for the government-issued request for casino proposals until Friday. Earlier this year, the MTGA announced that it had discussed with the Incheon International Airport Corp. the possibility for the establishment of a $1.6-billion multipurpose complex right next to the airport.
In fact, the authority plans a total investment of $5 billion into the proposed resort, which would be developed in several phases over the next 20 years. Mr. Soper said that the government of South Korea would probably award up to three casino licenses in 2016, with two of those for establishments in the Incheon International Airport area. The executive noted that he was not informed about the number of applications submitted.
Formerly, South Korea officials had reduced a field of 17 bidders to just 9, with 6 of those proposing plans for developments in Incheon.
Mr. Soper also pointed out that the MTGA would indeed work together with South Korean chemicals and building supplies company KCC Corp. The latter had purchased a 24.5% stake in the proposed project. The executive explained that they have decided to team up with that particular company as it had the experience needed and shared their core values of “community and relationships, transparency and integrity.”
According to the latest plans, the project, formally referred to as Inspire Integrated Resort, includes three luxury hotels with as many as 1,350 rooms, a theme park, a large entertainment complex, a number of food and beverage options, and convention and meeting space. In addition, the resort would feature what has been described as a “world class” casino, which would be intended only for foreign gambling customers. Under the current South Korean laws, residents of the country can gamble only at one local casino.
Mr. Soper said that they are still to present South Korean officials with details on the project. The government is expected to announce the winning bidders early in 2016. Mr. Soper said that if the MTGA wins a casino license, it would complete Phase One of the project and open the venue early in 2020.
