63% completion of its Phase 1

Korea: Mohegan inching closer to Inspire Entertainment Resort's opening in late 2023

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Mohegan’s Inspire Entertainment Resort in Incheon, Korea, is inching closer to its opening date, slated for year-end. Construction of the property, to be located on Yeongjong Island, is underway. Upon completion of all four phases, Inspire is set to become the largest integrated entertainment resort in Northeast Asia.

Among its amenities, the resort lists a 15,000-seat indoor concert venue, set to be a key feature of the mega property and future home to both high-profile K-pop performances and sporting events. The property, to be located near Incheon International Airport, has reached 63% completion of its Phase 1, Mohegan said on Wednesday, as reported by The Korea Times.

Inspire Entertainment Resort, the Korean brand of US tribal-run gaming and hospitality business Mohegan, held a press conference at the resort's construction site to showcase the progress of the construction. "We're sitting on 4.3 million square meters of land, roughly the same size as Yeouido," said Chen Si, the company's Chief Operating Officer, as per the cited source.

Korea’s Mohegan Inspire will be the eighth property run by the Mohegan tribe, which operates seven venues in North America. On Wednesday, officials highlighted Mohegan’s expertise in building and operating integrated resorts with entertainment offerings, and noted the property will attract foreign visitors “to appreciate Korean culture, especially live entertainment and art.”

The first phase of construction calls for a 2 trillion won ($1.49 billion) investment. It includes a three-tower luxury hotel with 1,256 rooms, a 15,000-seat arena to host concerts and sporting events, a foreigner-only casino with 700 slot machines, an all-year indoor water park, theme park, dining and shopping area, and 10,000 square meters of convention space.

"Our strategy is to leverage (the resort's) proximity to the airport to drive business companies from the rest of the Asia-Pacific to host meetings in our facility and benefit the economy here," Si said, as per The Korea Times. "We're hoping to complete construction with our partner Hanwha by September and start opening the resort in the fourth quarter."

The executive added that the entire resort, including the casino, is scheduled to open in the first quarter of 2024, after Mohegan’s local subsidiary secures its corresponding gaming license. The company estimates the resort to create 3,000 direct jobs in the building and many more indirectly in the region. The blueprint for the next phase of construction is due within a year after the resort's opening.

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