In a recent interview, the CEO of Mohegan Gaming & Entertainment said the company’s Inspire resort, now under development in South Korea, is on schedule to launch in 2022, and will be critical to the firm’s long-term financial viability in the aftermath of Covid-19.
Mario Kontomerkos said that the integrated resort project, which will be company’s first operation outside North America, could be a game-changer for the U.S.-based tribal gaming giant.
“The coronavirus has been a big perspective changer in a lot of different ways,” Kontomerkos said. “But it has strengthened our resolve in the way we do business. My main job is to provide for the next generation of tribal members here and then their next generation. It’s always been a very long-term-oriented approach.
“The pandemic has shown us that diversification into the international arena is important for our ability to stand for those generations.”
MGA also has a deal in the works in Las Vegas, he said, referring to the company’s deal to operate gaming at the new Virgin Casino, which is scheduled to open later this year. The company also plans a megaresort at the former Hellenikon International Airport in Athens, Greece—a project awarded to MGA, but under legal challenge by another bidder, Hard Rock International.
“So we’re very, very excited about where the business is, and from a longer term perspective, with geographical diversification we’ll be able to withstand these types of things even more.”
The US$1.6 billion phase one development of Inspire Korea is due to open in June 2022 and will feature 150 gaming tables, 700 EGMs, a 15,000-seat arena, an indoor climate-controlled dome with a pool and rides, dining and retail, a 19,000-square meter conference and convention space and 1,250 hotel rooms on 1.7 million square meters of land near Incheon Airport.
