written and last updated by
Sam Smith at
24 Feb 2023
Journalist, Editorial Department
The Mohegan Tribal Gaming Authority has released updated information regarding its Inspire Integrated Resort in South Korea, which is still under development. The company announced an additional funding allocation of $118.5 million (approximately 10.4 billion rubles), which will be crucial for bringing the project to fruition. Inspire will receive this amount in several installments by September 30, 2023.
Mohegan has also agreed to make further equity contributions if necessary to cover certain development costs or prepare the facility for opening. Additionally, the company noted that lenders have approved some amendments to the Inspire development plan, including changes to the project scope and increased costs due to inflation.
The Inspire Integrated Resort is a massive casino resort project, with its initial launch expected by the end of 2023. If all goes according to plan, the casino could welcome its first visitors by early 2024. Inspire will be the first of its kind, featuring a $5 billion (nearly 440 billion rubles) luxury hotel with three towers, along with gaming areas, restaurants, entertainment venues, retail spaces, and a conference center.
The complex is conveniently located near Incheon International Airport on Yeongjong Island, making it easily accessible for international tourists. This is particularly significant, as the casino will be open exclusively to foreigners.
Previously, Mohegan focused solely on the North American market, owning casino resorts in Pennsylvania, New Jersey, Connecticut, Washington, and Nevada. However, the Inspire Integrated Resort reflects the brand's ambitions to expand into new markets.
In related news, Caesars has stated it will not exceed its budget in pursuit of a New York license.
