A spokesperson on Wednesday confirmed to GGRAsia that the promoter of South Korea\'s Inspire Entertainment Resort has officially submitted a request to the local government to postpone the opening of the scheme until 2023. The project is being developed by U.S. tribal casino operator Mohegan Gaming and Entertainment. 파워볼사이트 추천
The company is currently proposing "early 2023" as an opening schedule for its Korean casino resort, also known as Inspire Korea (pictured in artist rendering), the official said. However, the company will try to open by "the second half of 2022," the spokesperson added.
The spokesperson said a request to delay the start of the project was submitted to the Korean Ministry of Culture, Sports and Tourism in late 2020. "We hope that the ministry will approve our application within January 2021," the person said in a phone interview.
An official from the Ministry of Culture, Sports and Tourism told GGRAsia on Wednesday that the company\'s application was "still under review."
The plan is located in Incheon, near Seoul, close to South Korea\'s major international aviation hub. Mohegan Gaming has previously said it expects to launch the plan in the second half of 2022. In December, the company publicly mentioned a new start date for 2023 for the first time.
The casino resort has been described by promoters as a multibillion-dollar multipurpose plan.
According to information previously published by Mohegan Gaming, Inspire\'s first phase will include a total of 1,250 rooms, 15,000-seat entertainment venues, three hotels with 40 food and beverage stores, and a foreign-only gaming venue with 160 table games and 700 slot machines.
The Inspire plan is about "12% complete" and construction is currently underway, a spokesperson told GGRAsia. The COVID-19 pandemic has "slowed the pace of progress" in Inspire Korea construction and financing, the person added. The company said in December that financing for the plan is set to close in "early 2021."
In November, the Incheon Free Economic Zone Authority said Mohegan Gaming would pursue a $200 million investment in Inspire Korea as part of its "foreign direct investment plan." A casino resort spokesperson told GGRAsia on Wednesday that it expects to finalize those investments in 2021.
On Jan. 15, Mohegan Gaming announced that it had offered $1.175 billion in total principal amount of its 8.000% senior secured bond due 2026. The company said the net proceeds from the offering and borrowings and cash held under the new senior secured credit facility "will be used to fund the repayment, satisfaction, and redemption of Mohegan Gaming\'s existing debt."