In the latest casino news, a new casino player will be joining the South Korean resort market soon. Just like online gambling, and sports betting, physical casinos are a growing market in the country. According to Mario Kontomerkos, CEO and President of Mohegan Gaming and Entertainment, they are good to go for Inspire.
The tribal casino operator plans to build the Inspire Resort by 2021, with a second phase by 2022. They have already been mobilizing construction in the site, after completing negotiations with their general contractor. Of course, all this comes after they were able to secure the necessary permits and licenses from the government
South Korean Resort
The casino resort will be located in Incheon, near Incheon International Airport, which is the main hub of the country. Its within reasonable distance from Seoul as well. Mohegan has also recently shared that they have a deal with Live Nation. Live Nation is an established events and venue operator. They also have a partnership with Paramount Studios, which means there could be a theme park in the resort.
Of course, this will be a foreigner-only resort, just like most casinos in the country. They will be joining operators like Paradise Co., and future operators such as Caesars Entertainment. But despite being a foreigner-only casino, this project will earn the government a lot of income from licenses and revenues. It will also help the local economy by bringing in tourists from around the world who have good purchasing power, and a boost to local employment as well.
Then again, too much casino operations in such a small country could prove detrimental. If there are too many operators, but too few clients, then the casino businesses might suffer due to a low demand for their services. These casino resorts will have to offer more than just tables to get their share of the gambling market.