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June 24, 2021

Other partners are KCC Corp and Incheon Interntaional

Mohegan Sun targets USD 750M in fines from Incheon casino

Mohegan Sun targets USD 750M in fines from Incheon casino
Tribal casino operator Mohegan Sun Tribal Gaming Authority (MTGA) is targeting approximately USD 750M in fees for its partnership in the Incheon casino project, according to reports.
South Korea | 12/05/2016

Tribal casino operator Mohegan Sun Tribal Gaming Authority (MTGA) is targeting approximately USD 750M in fees for its partnership in the Incheon casino project, according to reports.

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TGA is a key partner in the development of the Seoul casino resorts, which is expected to the biggest in the world once completed, Gambling Insider reported. 

Earlier this week, at the Bank of America Merrill Lynch 2016 Leveraged Finance Conference, MGTA confirmed that it will invest $100m for 50% of the projects equity, and will receive a development fee during construction of approximately $45m, followed by a 24–year management contract worth approximately $30m per year plus 3% of all revenues.

MTGA did not reveal how the construction of the resort would be financed.

The other partners in the casino resort development are South Korean chemicals manufacturer KCC Corp and the Incheon International Airport Corp

Incheon International is located next to the site of the casino resort, from which there will be immediate access provided to the casino.

The Tribal Gaming operator also gave some indication as to where revenue at the new resort are expected to come from, stating that only 20% of revenue will come from VIPs. It also stressed the need for balance between gaming and non-gaming revenue.

 

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