UNCASVILLE, Conn. and
INCHEON, South Korea, April 20, 2015 /PRNewswire/ -- The Mohegan Tribal
Gaming Authority ("MTGA" or the "Authority") operator of Mohegan
Sun, Mohegan Sun Pocono and Resorts Casino Hotel, and Incheon
International Airport Corporation ("IIAC") today announced that
they have signed a memorandum of understanding (MOU) to develop,
build and operate a first-of-its-kind gateway entertainment city in
South Korea. The integrated hotel-casino resort will feature
world-class entertainment and hospitality attractions, as well as
the only casino-resort anywhere connected to a fixed-base private
aviation operation (FBO). The proposed resort would be developed on
the grounds of Incheon International Airport, the 8th
largest international airport in the world which serves more than
45 million annual visitors.
According to the terms of the MOU, the Authority and IIAC will
enter into exclusive negotiations on a conceptual agreement for
developing an 800-acre parcel of land owned by IIAC into a
world-class, integrated entertainment destination. The MOU outlines
a framework for a conceptual agreement on the project, with the
goal of signing a finalized concept agreement by June 30, 2015 and a scope of work proposal by the
end of the year. Upon its 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.
"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 Bobby Soper, President of MTGA. "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 to build on the
strengths of our two organizations and create the leading,
first-of-its kind offering for travelers across the world."
President and CEO of Incheon International Airport Corporation,
Park Wan-su, said: "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. It was critical to identify the right
partner for this historic development and Mohegan Tribal Gaming
Authority's performance track record as a developer, operator and
ability to attract world-class entertainers speaks for itself. 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."
The development is expected to include, but not be limited to
the following features:
- Two-tower luxury hotel complex with 1,000 guest rooms, which
will be split between 300 6-star rooms and 700 5-star rooms;
- The first and only private jet terminal (FBO) in the world
connected to an integrated casino resort;
- More than 18,500 sq. meters of retail, food, art and music
entertainment experiences, including a Korean village celebrating
Korean food, and music, state of the art motion picture and film
studio, and a Native American cultural and arts experience;
- Over 60 of the most sought after luxury retail brands in the
world and over 20 food and beverage concepts;
- A Korean cosmetics and beauty hub promoting Korea's dominance
in Asia in this area;
- Entertainment arena with capacity for up to 20,000 attendants
for Class-A acts and arena sport events that have become synonymous
with Mohegan Sun properties;
- An Indoor-Outdoor amusement park with 18,500 sq. meters of the
latest high-tech amusement rides and more than 12 outdoor
attractions; and
- A 18,500 square meter casino with 250 tables and 1,500 slot
machines.
Mohegan Sun is joined by Miura Holdings Asia, a multi-purpose
investment vehicle focused on gaming, hotel and food & beverage
activities in the United States
& Asia, as part of the
development team. Consummation of the conceptual agreement
and development of the project is subject to certain governmental
and regulatory approvals, including, but not limited to, MTGA
securing a gaming license from the Korean Ministry of Culture,
Sports and Tourism.
About the Authority
The Authority is an
instrumentality of the Mohegan Tribe of Indians of Connecticut, or the Tribe, a Native American
Tribe with an approximately 544-acre reservation situated in
southeastern Connecticut. The
Authority has been granted the exclusive authority to conduct and
regulate gaming activities on the existing reservation of the
Tribe, including the operation of Mohegan Sun, a gaming and
entertainment complex located on a 185-acre site on the Tribe's
reservation. Through its subsidiary, Downs Racing, L.P., the
Authority also owns and operates Mohegan Sun Pocono, a gaming and
entertainment facility located on a 400-acre site in Plains Township, Pennsylvania. MTGA also
manages Resorts Casino Hotel in Atlantic
City. More information about the Authority and its
properties can be obtained by visiting www.mohegansun.com,
www.mohegansunpocono.com, www.resortsac.com or www.mtga.com.
About Incheon International Airport Corp
Incheon
Airport is one of the best airports in the world, which records
8th place in international passenger traffic and
2nd in cargo traffic. Incheon Airport rated
1st on Airport Service Quality Service conducted by ACI
for 10 consecutive years. Incheon Airport is currently under
3rd phase construction which includes building a new
terminal that opens 2018. More information about the Incheon
Airport can be obtained by visiting
www.airport.kr/eng/.
Contacts
MTGA:
Cathy Soper
860-862-7841
csoper@mohegansun.com
Dan Katcher / Scott Bisang / Matthew
Gross
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
Photo
- http://photos.prnewswire.com/prnh/20150420/199854
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SOURCE Mohegan Tribal Gaming Authority