Mohegan Sun Wins South Korean Casino License
Tribal Group, Partners Win Sole Casino License To Date
A plan for a $5 billion casino complex in South Korea from U.S.-based casino operator Mohegan Sun won approval Friday.
According to a report from The Day, the win is good news for the tribe, which operates a casino in Connecticut, because in the past couple of years it failed to win licenses in New York and Pennsylvania, as well as near Boston.
The Mohegan Tribal Gaming Authority revealed nearly a year ago that it was competing for one of three South Korean casino licenses up for grabs. Roughly three dozen groups eventually indicated their interest, though only a handful ended up formally applying to a license.
The tribe partnered with a South Korean building supplies company and the Incheon International Airport Corp., the latter of which owns the site for the casino.
The first phase of the casino, dubbed “Project Inspire,” will come at a price tag of $1.6 billion and should be open by 2020. The plan is to finish the complex by 2040.
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