Full plan should be complete by end of 2015
The Mohegan Tribal Gaming Authority and Incheon International Airport Corp. have signed a formal memorandum of understanding to develop, build and operate what the partners call “a first-of-its-kind gateway entertainment city in South Korea.”
The hotel-casino complex will feature “world-class entertainment and hospitality attractions, as well as the only casino-resort anywhere connected to a fixed-base private aviation operation. The proposed resort would be developed on the grounds of Incheon International Airport, the eighth largest international airport in the world which serves more than 45 million annual visitors,” according to a news release from MTGA and IIAC.
According to the terms of the MOU, the parties will enter into exclusive negotiations to develop the 800-acre parcel of land owned by IIAC, with the goal of signing a finalized concept agreement by June 30, and a scope-of-work proposal by the end of the year.
On completion, the integrated hotel-casino resort will “cement Incheon Airport’s position as one of the best airports in the world and create an epicenter for Korea’s growing entertainment, tourism and hospitality industry,” the parties say.
“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,” said MTGA President Bobby Soper. “We look forward to extending the unique Mohegan Sun brand, focused on unparalleled hospitality and guest experience, to Korea and providing a new, global customer base at a one-of-a kind, must-visit destination. We have tremendous respect for IIAC and are excited to partner with Mr. Park Wan-su (president and CEO of IIAC) to build on the strengths of our two organizations and create the leading, first-of-its kind offering for travelers across the world.”
“This project is an important step in Incheon Airport’s continued efforts to become a global mega-hub airport, delivering passengers the highest quality service and serving as the best airport in the world in all aspects of our operations,” said Park Wan-su. “We look forward to working with MTGA to finalize an agreement on the proposed project and further enhancing Incheon’s services with the support and collaboration of our 40,000 employees.”
