The Mohegan Tribal Gaming Authority is boosting its investment in a casino resort project in South Korea by KRW185.0 billion (US$142.0 million). The casino operator, headquartered in Connecticut, USA, stated in a recent announcement that the additional funds will be invested by September 30, 2023.
Additional Investment to Ensure Project’s Completion
The Mohegan Inspire Entertainment Resort, located in Incheon, is currently under construction and will be run by Inspire Integrated Resort Co, a subsidiary of Mohegan.
Mohegan said it will make certain non-dilutive equity capital contributions to its subsidiary and will release extra funds as needed for the full completion of the new casino resort. Furthermore, the company has also entered into an agreement with its mezzanine lenders to make certain changes to the casino project’s development plan.
Mohegan Inspire Could Open in Late 2023
The Mohegan Inspire Entertainment Resort will feature 1,270 hotel rooms and suites, leisure facilities, a 15,000-seat multi-purpose arena, and a casino exclusive to foreigners.
The property’s non-gaming facilities are slated to open later this year. The casino area will start operating shortly after, once it obtains the necessary permits, as previously confirmed by Mohegan’s CEO Raymond Pineault.
