The construction of the Inspire Entertainment Resort in South Korea is nearing completion
Earlier this year, Mohegan Gaming announced plans to launch some non-gaming components of the project in the last quarter of 2023. The casino, which will be exclusive to foreign visitors, is expected to open in early 2024.
In July, Chen Si, president of Inspire Entertainment Resort, mentioned that the company first needs to obtain a five-star hotel rating before it can "officially apply for a casino license." He noted that they aim to launch gaming operations in time for the Chinese New Year celebrations, which begin on February 10, 2024.
However, Mohegan Gaming's CEO, Ray Pineault, indicated that there are no guarantees regarding the launch date for gaming operations at the resort, as the brand does not have control over this aspect. Pineault made this statement during the company's recent earnings conference in August. "We need to open the hotel and all non-gaming facilities to receive the hotel rating and casino license," he said.
The Inspire Entertainment Resort casino will feature 700 slot machines and 150 table games. The complex will also offer guests 1,275 hotel rooms and a multi-purpose arena with a capacity of 15,000.
During a recent presentation, Mohegan Gaming projected that the potential market size for the casino resort could reach 4.7 million "gaming trips" annually, encompassing both international tourists and dual passport holders, as well as foreign residents. The company also announced plans to utilize a "player development team" and affiliates to attract a broad base of premium customers and high rollers.
Notably, tax revenues from gambling in Virginia have exceeded expectations.
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