Mohegan INSPIRE, a sprawling integrated resort casino nestled adjacent to South Korea‘s bustling Incheon International Airport, unveiled the grand opening of its first phase on March 5, 2024. This inaugural phase, a testament to Mohegan‘s global expansion, has been in the works for years and comes with a hefty price tag of $1.6 billion.

Mohegan INSPIRE’s Grand Opening: Bridging Heritage with South Korean Culture

The ribbon-cutting ceremony, attended by over 500 distinguished guests, marked a significant milestone not only for Mohegan but also for South Korea’s entertainment and tourism landscape. Among the attendees were leaders and cultural representatives of the Mohegan Tribe, emphasizing the historic partnership forged between the Tribe and the vibrant country of South Korea.

James Gessner Jr., chairman of the Mohegan Tribal Council, expressed his excitement during the ceremony: “The grand opening of INSPIRE is a momentous occasion for Mohegan, making both a historic partnership for our Tribe and elevating our global network of resorts to unprecedented heights. I would like to extend my deepest appreciation to South Korean government for the opportunity to bring our vision to life in such a vibrant country.”

The grand opening festivities showcased the fusion of Mohegan heritage and South Korean culture, offering guests a glimpse into the rich tapestry of experiences awaiting at INSPIRE. From traditional Mohegan smudge ceremonies to captivating performances by Unity of Nations, a Mohegan drum group, and enchanting acts by Korean artists, the event left an indelible impression on all attendees.

Mohegan INSPIRE’s Phase One Sets New Standards in Entertainment

Ray Pineault, president and CEO of Mohegan, highlighted the ethos underlying INSPIRE’s development, emphasizing principles of hospitality, collaboration, and sustainability. 

Pineault further emphasized that Mohegan INSPIRE was poised to become a landmark destination and a catalyst for tourism, economic growth, and cultural exchanges, enhancing the region’s allure to visitors from across the globe.

Phase one of INSPIRE boasts a plethora of amenities designed to cater to diverse tastes and preferences. From a sprawling five-star hotel with over 1,200 rooms to the INSPIRE Arena, capable of hosting up to 15,000 guests, the resort offers a multifaceted experience. 

Guests can immerse themselves in the surreal ambiance of Aurora, an indoor street enveloped in high-resolution LED displays, or indulge in culinary delights at renowned establishments like Michael Jordan’s Steak House.

Looking ahead, INSPIRE is poised to introduce additional attractions, including an on-site mall with branded shops and restaurants, an indoor food court, and Discovery Park, an outdoor entertainment space. Plans for future expansion phases include an indoor walkway to Incheon International Airport and the addition of a Paramount Studios amusement park, solidifying INSPIRE’s status as a premier destination for entertainment and leisure.

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Mohegan, the leading gaming and entertainment operator, announced that its Inspire Casino at Mohegan Inspire Entertainment Resort in Incheon, South Korea, will open its doors for visitors on Saturday, February 3, 2024, at 8:08 AM. The massive casino resort is located adjacent to the Incheon International Airport and is expected to be one of the biggest resorts in Northeast Asia once it rolls out all of its amenities.

Previously, the entertainment resort commenced its operations on November 30, 2023, and started accepting hotel guests. Additionally, Inspire Entertainment Resort opened a number of restaurants along with Inspire Arena, a premium entertainment venue that offers unique experiences. As a part of a planned phased approach, now, the resort will open its casino floor as well.

A statement released by Inspire Entertainment Resort reveals that the visitors of Inspire Casino will be able to enjoy some 390 slot machines, as well as more than 150 gaming tables. The casino floor, promising unique experiences thanks to the latest and most popular games, is spread across two levels. Inspire Casino will also offer electronic table games with some 160 seats.

The Resort Looks Forward to Welcoming New and Return Guests

Chen Xi, the president of Mohegan Inspire, revealed that the company is excited to open the doors for its foreigner-only casino. He explained that this process follows approval from the gambling regulator in the country. Moreover, Xi spoke about the extensive efforts of the entertainment resort over the last seven years.

“Since the soft opening, we have seen many domestic and international visitors enjoying the thrill of an unforgettable performance at Inspire Arena, a fantastic digital show in the Northern Lights, and the tranquil relaxation of a five-star hotel.“

Chen Xi, president of Mohegan Inspire

Mohegan Inspire’s president spoke about the growing number of guests who have already experienced the thrill at Inspire Arena. He added that the resort remains dedicated to offering unique experiences to its visitors thanks to casino amenities, as well as exciting events.

The strategic location of Mohegan Inspire Entertainment Resort allows an influx of visitors from across Asia. Since the resort is next to Incheon International Airport, it provides a convenient option for guests from Taiwan, Hong Kong, Shanghai, Tokyo and Osaka, among other locations that are a short four-hour flight away.

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Mohegan’s South Korean venture, the Mohegan INSPIRE Entertainment Resort, has been given a prestigious five-star hotel rating. The rating follows a comprehensive assessment of the property by the Korea Tourism Association’s Korean Hotel Rating System.

The five-star rating reflects the excellence of the hotel and its facilities and attests to Mohegan’s commitment to best-in-class hospitality experiences.

The hotel is built on the beautiful Yeongjong Island in Incheon and is designed to mirror its surroundings’ beauty. The complex boasts three distinctively themed towers, namely the Forest Tower, Sun Tower and Ocean Tower. The resort has some 1,275 rooms, ranging from deluxe accommodations to extravagant villa suites. Visitors can also enjoy a variety of guest lounges, spa services, a fitness center and an indoor pool.

In addition to allowing its customers to truly relax, Mohegan Inspire also offers a variety of restaurants and bars, such as Minagi, Hong Pan, Brasserie 1783, Garden Farm Café, Chef’s Kitchen, Aurora Bar and Horizon Lounge, as well as the first Eurasian Michael Jordan Steak House and MJ23 Sports Bar & Grill.

Mohegan Wants to Provide Guests with Unparalleled Experiences

Ray Pineault, Mohegan’s chief executive officer, commented on the five-star rating, calling it a testament to his team’s “relentless pursuit of excellence.”

This milestone reflects our team’s dedication to upholding the highest standards in the industry, and it reinforces our position as a leader in global entertainment and hospitality.

Ray Pineault, CEO, Mohegan

Mohegan INSPIRE’s president, Chen Si, also commented on the matter, saying that he is delighted that the property’s hotel facility has achieved this prestigious rating. He thanked his team for making this possible and working hard across all areas, including facility, hospitality and operations management.

What incredible momentum going into this first quarter celebrating the casino’s grand opening – that’s how Mohegan continually sets the standard for integrated resorts that create unforgettable experiences.

Chen Si, president, Mohegan INSPIRE

Mohegan INSPIRE is set to launch its comprehensive Phase 1A facilities by the middle of the year. The INSPIRE Mall will open in early 2024, providing visitors with a dynamic cultural hub. In the spring, INSPIRE is also set to introduce an outdoor experiential space.

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The Mohegan Tribal Gaming Authority (MTGA), a US tribal casino operator currently developing the integrated resort Mohegan Inspire in Incheon, South Korea, announced a Third Amendment to its credit agreement. This update signifies a change in lenders and the addition of a new revolving credit facility, marking another step in the project’s financing journey.

Mohegan Inspire Represents a Significant Investment

As the second integrated resort to open in Incheon, Mohegan Inspire should significantly impact the region’s tourism and leisure offerings. Its diverse amenities are poised to attract a broad audience, making it a key player in the South Korean entertainment landscape. The new funding will ensure the project launches on time and meets stakeholders’ high expectations.

The Mohegan Inspire project aims to become the centerpiece of Incheon’s tourism landscape, offering a comprehensive entertainment experience. It will feature three hotel towers with 1,200 rooms, an arena, a foreigner-only casino, diverse dining and retail options, convention facilities, and an impressive selection of entertainment choices.

One of its distinctive features will be a year-round indoor water dome experience, providing visitors with a unique attraction. An outdoor family park will further enhance the resort’s appeal, catering to a wide selection of guests. This venue will also share Mohegan’s Momentum Loyalty Program, ensuring guests keep returning, knowing their loyalty is truly valued.

The Project Should Have All the Funds It Needs

The Third Amendment to Mohegan’s credit agreement follows the previous May 2021 and February 2023 revisions. This latest update sees Fifth Third Bank replace Bank of America as the Swingline Lender. Additionally, MTGA has gained a revolving line of credit of up to $5 million, intended for covering temporary short-term expenses.

In February, MTGA executed the Second Amendment to the original credit agreement, extending the maturity date of commitments and loans under the facility until 1 November 2025. Shortly after this, Mohegan announced its commitment to provide up to KRW185 billion ($140 million) in additional funding, ensuring the timely completion of its Korean integrated resort project.

The funding commitment was successfully fulfilled in September, demonstrating MTGA’s dedication to the project’s progress. The Mohegan Inspire should open its non-gaming components by the end of the year, setting the stage for complete operation in 2024. Its diverse amenities will help attract a broad audience and provide Mohegan with significant long-term value.

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Mohegan Inspire, a groundbreaking resort project by the Mohegan Tribe, is set to redefine luxury and entertainment in Incheon, South Korea. As the $5 billion project approaches its eagerly awaited opening, it has unveiled an updated leadership team, bringing a wealth of experience to ensure the success of this ambitious venture.

Experienced Leadership Is Vital for Success

The Mohegan Tribe, renowned for its world-class gaming and entertainment destinations like Mohegan Sun in Connecticut and Mohegan, Pennsylvania, embarked on the Mohegan Inspire project in February 2016. This exceptional resort is strategically located at the Incheon International Airport in South Korea, promising a blend of luxury, entertainment, and convenience.

Managing such a high-profile venue requires exceptional talent familiar with local challenges and opportunities. Chen Si’s appointment as President leverages his extensive experience in the gaming and hospitality industry. Si was optimistic regarding the project, vowing to steer Mohegan toward a future filled with inspiration and growth.

As we begin this next venture for the Mohegan brand in South Korea, I am motivated by the promise of innovation, rich cultural exchange, and strengthened partnerships.

Chen Si, Mohegan Inspire President

The new President’s impressive track record includes leadership positions in industry giants like Sands China and Las Vegas Sands. His work as EVP and Head of Casino & Hotel at Macau Legend Development further bolsters his resume, showcasing an in-depth understanding of the gaming and hospitality sectors.

Mohegan Inspire Is Poised to Take South Korea by Storm

Joining Si is Wade Howk, a seasoned executive in the entertainment and leisure industry, who takes on the role of COO at Mohegan Inspire. Howk served as the CFO for Hard Rock Cincinnati and held the post of Corporate VP of Strategy at SeaWorld Parks & Entertainment, leveraging his expertise in financial strategy and operational excellence to drive lasting growth.

Howk was also excited to assume his new position and join one of 2023’s top global workplaces. He promised to help the brand retain its focus on excellence and visionary leadership, ensuring guests would enjoy an unparalleled experience in all Mohegan properties regardless of region.

Mohegan Inspire has always stood for innovation, passion, and resilience.

Wade Howk, Mohegan Inspire COO 

As Mohegan Inspire prepares to take center stage as one of South Korea’s premier luxury resorts and entertainment destinations, the new leadership appointments underscore the company’s commitment to excellence and innovation. The resort plans to open its doors before 2024, featuring a blend of world-class amenities that promise to redefine the region’s hospitality industry.

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As a result, Light & Wonder and Mohegan Inspire Entertainment Resort in Incheon, South Korea have entered a new systems agreement that will allow the land-based venue to strengthen its operations and provide gamblers and guests with unmatched gaming experience.

Light & Wonder Brings Slots and Electronic Tables

This will include the installation of Light & Wonder’s slots and electronic table games, which will ensure that Mohegan Inspire brings the quality experience that travelers and players have come to expect from the brand. Commenting on this opportunity, Light & Wonder’s CEO of gaming, Siobhan Lane, said:

A partnership with Mohegan INSPIRE offers a tremendous opportunity for Light & Wonder in the Asian market. INSPIRE will be an incredible all-new, state-of-the-art destination and we look forward to its historic debut.

Light & Wonder’s CEO of gaming, Siobhan Lane

Lane said that the entire company was very happy to be expanding its rapport with Mohegan and to continue to work with the land-based industry in general. The chief executive assured that Light & Wonder’s mission statement was to ensure that it provides the highest level of efficiency for the resort and helps guests get an unmatched player experience anywhere on the property.

Happy to Create True Value for Players

The tie-up was similarly welcomed by Mohegan COO Jody Madigan who said that Light & Wonder is a company that offers excellent systems and precisely the type of advanced solutions needed to make Inspire become one of the most worthwhile experiences for guests.

The Light & Wonder systems also provide valuable business insight that helps with driving business metrics and implementing this new tech would offer significant value to players. This partnership is still well ahead of the actual property opening which is expected to happen later in 2023. Then, the casino gaming floor should come online next year.

The project has already cost $1.6 billion to develop. The Mohegan Tribal Gaming Authority has spent $1.6 billion to develop the casino, which will cater only to foreigners and feature a 1,200-room hotel along with many other dinings, retail, and meeting spaces across the resort.  

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The Mohegan Tribal Gaming Authority released an update on its in-development South Korean resort. Inspire Integrated Resort, which will see its parent company expand internationally, will receive further financial backing needed for its completion.

As announced, on February 16 Mohegan executed an Equity Commitment Letter and agreed to make certain non-dilutive equity capital contributions to Inspire. In short, the tribal company will provide the project with additional funding, which will be crucial to turning Inspire into a reality.

Mohegan will provide Inspire with the US dollar equivalent of 155 billion Korean won (around $118.5 million, current conversion rates). Inspire will receive the sum in several payments before September 30 this year.

In addition to the capital provided for the completion of Inspire, Mohegan also agreed to make further non-dilutive equity capital contributions if necessary to cover certain development costs or pre-opening expenses if they exceed budgeted amounts in an amount of up to KRW 30 billion.

The announcement added that Mohegan’s mezzanine lenders have become express third-party beneficiaries of the Equity Commitment Letter and can enforce additional contributions. The lenders also entered into a Waiver and Consent Letter where they agreed to certain amendments to the development plan for Inspire. These include amendments to the fixed-price construction contract, changes to the scope of the project and inflation cost increases.

About Inspire Integrated Resort

Mohegan’s Inspire Integrated Resort is a huge casino resort project that is expected to launch in late 2023. If everything goes according to plan, by early 2024, the casino will also welcome its first visitors.

Inspire will be a first-of-its-kind, $5 billion resort that will feature a unique three-tower luxury hotel. It will be packed with casino, hospitality, dining and entertainment facilities. Inspire will have the biggest entertainment area in South Korea and will feature a convention center, a shopping district and numerous restaurants.

The project is close to the Incheon International Airport on Yeongjong Island, making it an easily-accessible destination for foreign tourists. This is very important, considering that the casino will only be open to foreigners.

Prior to its South Korean Project, Mohegan was primarily focused on the NA region, like most tribal entities. However, the company’s ambitions go beyond North America and its casino resorts in Connecticut, Washington, Pennsylvania, New Jersey and Nevada.

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The Encourage Korea IR developed by Mohegan Gaming & Leisure ought to be capable to open forward of its unique schedule, and a non-gaming providing ought to already be accessible earlier than the tip of 2023, the corporate confirmed throughout its newest earnings name, summing up the outcomes for the fourth quarter.

Tourism Massive Focus of Upcoming Undertaking

Despite the fact that development needed to be put briefly on maintain for a couple of months, it restarted in the beginning of February, with executives assured within the imminent success of the mission and its well timed completion.

Whereas non-gaming operations are because of begin earlier than the tip of the 12 months, the corporate continues to be not clear on when gaming operations will comply with swimsuit. Mohegan CEO Ray Pineault assured that his firm is urgent on with the mission in order to supply well timed gaming and non-gaming supply as quickly as attainable.

When it comes to how briskly that is occurring, Pineault estimates that the mission is already about 4.5% forward of its unique schedule. The chief stated that 43.5% of the mission has been accomplished as of January, including:

Following a complete evaluation of Mohegan Encourage, we anticipate making further fairness investments to fund a wide range of gadgets associated to the mission.

Mohegan CEO Ray Pineault

Mohegan may also transfer on with the enlargement of lodge rooms, conference, and assembly rooms, together with different recognized priorities, Pineault defined. An enormous a part of that is targeted on the non-gaming phase, which Pineault motivates with a shifting development in South Korean customers who’re on the lookout for “staycation” choices.

Huge Funding for an Bold Undertaking

This is the reason the facilities that transcend the gaming ground are equally vital – if not much more so – to the group. As an entire, Mohegan Encourage is a powerful mission that’s going to value $5 billion. The Encourage mission may also embrace a foreign-only on line casino and give attention to catering to vacationers regionally and internationally.

The mission is deliberate with three lodge towers, a 15,000-seat enviornment, and quite a lot of eating and leisure choices that make the keep worthwhile to friends and customers. Upon completion, Mohegan Encourage would be the second built-in resort accessible in Incheon, after Paradise Metropolis. The mission can be pushing in opposition to native competitors from Macau and shortly – Japan, the place new built-in tasks are additionally underway.

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