ldquo;We are pleased with the Korean Government’s decision to award us the opportunity to help fulfill their vision of driving economic development by growing tourism, creating jobs and showcasing Korean culture via the integrated resort,” said Bobby Soper, President of MTGA following the decision.
"KCC is thrilled that its partnership with the Mohegan Tribal Gaming Authority has been awarded the opportunity to develop this exciting and transformative integrated resort which will be instrumental in bringing new generations of tourists to Incheon," said KCC Chairman Chung Mong-Jin.
Mr. Chung Il-young, CEO of the Incheon International Airport Corporation noted, "We deeply appreciate the careful review that the Korean Government has conducted on this bold new initiative for tourism in Korea. It's selection of the Inspire project at IBC-II is wonderful news for the Incheon region and will serve as a catalyst for growth in the airport development zone for years to come."
Mohegan Sun’s multi-phase development project named Project Inspire is expected to include, but not be limited to the following features:
Phase I of Project Inspire is estimated at US$1.6 billion, with a commitment total of US$5 billion over multiple phases.
Mohegan Sun is joined by Miura Holdings Asia, a multipurpose investment vehicle focused on gaming, hotel, and food and beverage activities in the United States and Asia, as part of the development team. Consummation of the conceptual agreement and development of the project is subject to certain governmental and regulatory approvals.