Inspire Entertainment Resort at Incheon, South Korea, is suffering due to Covid-19 pandemic, which has hit the global casino industry and has halted the construction of the Midan City resort. American online tribal casino operator Mohegan Gaming and Entertainment said the opening of its Inspire Casino resort in South Korea will be postponed until early 2023. This decision was made based on financial projections for 2021 and investments and income for 2020.
The Covid-19 pandemic has delayed the construction procedure
Previously, the casino complex was scheduled to open in the second half of 2022. The first stage of this project is valued at around one billion dollars and includes the construction of a five-star hotel with more than 1,250 luxurious rooms, a large stage for sporting events and concerts and a 20,000-square-meter casino with 700 slot machines and 150 games. The exclusive resort will be open to the public at the Incheon International Airport in South Korea, a strategic location approximately one hour from the heart of Seoul.
Mohegan Gaming and Entertainment is now pointing to early 2023 as a completion date for its multi-million Inspire project.
The effects of the Covid-19 pandemic in the world
Economies around the world are expected to struggle as countries implement closures, curfews, and other restrictions as part of efforts to contain the further spread of Covid-19. The gaming industry has slowed around the world, as have integrated resort projects that were under development.
The effects of the Covid-19 pandemic have also led to temporary casino closures across the market in key gaming jurisdictions in the Asia-Pacific region and elsewhere, including the markets of Singapore, the Philippines, and South Korea. Malaysia, Australia and the United States.
Many of Mohegan Gaming and Entertainment's properties such as Mohegan Sun in Connecticut, Mohegan Sun Pocono in Pennsylvania, Atlantic City's Resort Casino Hotel, Ilani in Washington State, Paragon Casino Resort in Louisiana, and Casino Niagara and Fallsview Casino in Canada are currently closed due to the coronavirus health crisis. However, the company say the large loss of revenue, paired with plummeting economiesaround the world, does not hamper the company's enthusiasm for moving forward in South Korea.
About Mohegan Gaming & Entertainment
Mohegan Gaming & Entertainment (MGE) is a master developer and operator of premier global integrated entertainment resorts.
Mohegan Sun Started in Connecticut in 1996, and quickly became one of the largest casinos in the world, it was a whole new entertainment destination, taken to a whole new level. This was more than a casino, the games were a part of an incredible entertainment experience that combined many different elements, from dining and shopping to professional sports and extraordinary shows.
Based on this success the company has taken this experience to new markets throughout the country. MGE is currently expanding worldwide with the addition of South Korea's Inspire Resort, the first in the world with its own private air terminal and will continue with the Mohegan Sun Casino in Virgin Hotels Las Vegas, the most popular global gaming market.
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