The Ministry of Culture, Sports, and Tourism in South Korea has given INSPIRE Entertainment the green light to operate a foreigner-only casino at its resort in Incheon. The casino’s opening date will be announced on Monday.
Chen Si, President of INSPIRE Entertainment Resort, told AGB that the company was still finalizing details, such as inspections of its information technology and equipment, urging readers to “Stay Tuned!” for the news of the casino opening date.
Mohegan announced on Tuesday that its INSPIRE Entertainment Resort earned a five-star hotel rating from the Korea Tourism Association, a final hurdle for opening its casino.
Early on Wednesday, the Korea Times picked up the news that authorities had green-lighted INSPIRE’s casino, the first time such permission has been granted in the country since 2005.
Korean officials anticipate that the recently granted casino license will not only set a precedent for Korean-style integrated resorts but also substantially enhance the country’s tourism industry.
INSPIRE held a soft opening in November of last year, with the casino scheduled to open in the first quarter of this year.
The property involved a starting investment totaling around $2 billion, which included foreign contributions, that went into the construction of the INSPIRE Entertainment Resort on Yeongjong Island in Incheon. The subsequent phases of the project are set to bring the total investment to about $5 billion.
Mohegan Gaming and Entertainment’s COO expects the property to become cash flow positive by the end of 2024.
This location is approximately 30 kilometers west of Seoul and is in close proximity to Incheon International Airport.
In addition to the casino, the resort includes a 15,000-seat arena, a five-star hotel, an international conference hall, a large-scale indoor water park, a shopping mall, and various restaurants.
