Business Deals | Casino Stalker

Mohegan Tribe announces plans for $5B casino in South Korea

Artist's rendering of the proposed casino in Korea. Image from Mohegan Tribal Gaming Authority

The Mohegan Tribe of Connecticut announced plans for a $5 billion casino resort near Seoul, the capital of South Korea.

The Mohegan Tribal Gaming Authority is teaming up with Incheon International Airport Corporation to bid on a casino license. Plans call for a foreigners-only casino with 250 gaming tables, a 1,000-room hotel, a 20,000-seat arena and an amusement park on 800 acres at the Seoul airport.

“We are pleased to have reached this monumental agreement with Incheon International Airport Corporation, which is a testament to MTGA’s performance and ability to develop and operate premier, world-class assets at the highest level,” Bobby Soper, a tribal member who serves as president of the MTGA, said in a press release.

Chairman Kevin Brown signed the memorandum of understanding today in Seoul. He was joined by Park Wan-su, the CEO of the airport authority.

The South Korean government expects to issue one or two gaming licenses later this year, Reuters reported. The nation is home to 17 casinos but only one is open to local citizens.

Get the Story:
Mohegan Sun heats up S.Korea casino competition with $5 billion proposal (Reuters 4/21)
Mohegan Sun eyes casino in Incheon (The Korea Herald 4/21)
Incheon lures US casino (The Korea Times 4/21)
Mohegan Sun confirms plans for S. Korea casino (GGRAsia 4/21)
IIAC and Mohegan Tribal Gaming authority to build entertainment complex (DFNI 4/21)
Incheon International ties up with US casino resort operator for gaming, entertainment and luxury retail complex (The Moodie Report 4/21)
Mohegans, South Korean airport corporation announce casino development (The New London Day 4/21)
Mohegan Tribal Gaming Authority to Develop Casino in South Korea (The Wall Street Journal 4/21)

Related Stories:
Mohegan Tribe went to South Korea to discuss potential casino (4/16)