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South Korea Awards Mohegan Tribe Licensing for $5B Casino Resort

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The South Korean government has awarded the Mohegan Tribal Gaming Authority a licensing agreement to develop the world's first and only destination resort with an adjacent private air terminal, reported westfaironline.com. The project to be built at South Korea’s Incheon International Airport is estimated to cost $5 billion.

“We are pleased with the Korean Government’s decision to award us the opportunity to help fulfill their vision of driving economic development by growing tourism, creating jobs, and showcasing Korean culture via the integrated resort,” said Bobby Soper, president of the tribal gaming authority.

Phase one of development, dubbed Project Inspire and costing $1.6 billion, will include a 20,000-square-foot casino and 1,350-room luxury hotel, as well as a 100,000-square-foot indoor-outdoor theme park, 20,000 square feet of luxury retail space and a 33,000-square-foot eco-adventure park with indoor rain forest.

The Mohegan Tribal Gaming Authority, operators of the Mohegan Sun in Uncasville, Connecticut, and its sister properties, will partner with the Seoul-based KCC Corporation and Incheon International Airport Corp to create this "first-of-its-kind" casino. It will be South Korea's largest entertainment venue, featuring more than 250 gaming tables, 1,500 slot machines and an additional 15,000-seat arena space.

KCC Corporation is a chemical company and producer of general construction and industrial materials with nearly 5,000 employees, founded in 1958. Incheon International Airport Corp, formed in 1999, operates the airport, in addition to its duty free shops, convenience stores and more.

The gaming authority has not released a construction timeline, but the entertainment facility is projected to open in 2019, according to the Wall Street Journal.