The Mohegan Tribal Gaming Authority said it has signed an agreement with the operator of the 8th busiest airport in the world to develop, build and operate a “gateway entertainment city” with a casino, amusement park, concert and sports arena, stores, and a private jet terminal for wealthy visitors.
MTGA and South Korea’s Incheon Airport Corp. said the 800-acre development will be the first of its kind in the world, and would help grow Incheon, which serves 45 million passengers a year, into a global megahub.
MTGA, which operates Mohegan Sun casinos in Connecticut and Pennsylvania and manages an Atlantic City casino, did not disclose the value of its potential investment in the project. Its investment partner in the project is Miura Holdings Asia, which focuses on gaming, hotels and restaurants in the U.S. and Asia.
Under the memorandum of understanding, the authority and Incheon will negotiate a conceptual agreement by the end of June and a scope-of-work proposal by the end of the year.
“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,” MTGA President Bobby Soper said in a statement.
The development is expected to include 1,000 hotel rooms, 61,000 square feet of gaming space with 1,500 slot machines and 250 gaming tables, an indoor-outdoor amusement park, a 20,000-seat arena, and retail stores and restaurants.
The deal is contingent on government and regulatory approvals, including MTGA securing a gaming license from the Korean government.
