U.S. tribal casino operator Mohegan Gaming and Entertainment has seen its U.S.-based properties continue to recover as the rate of vaccinations increases and states continue to ease some COVID-related restrictions.
Mohegan Sun's project in Incheon South Korea has received government approval for an extension to its construction deadline and tweaks to the business plan.
South Korea, which attracted significant interest when it first opened for foreign investors, is now seen as holding limited appeal unless the government agrees to relax its stance on local gaming.
Caesars' Entertainment CEO Tom Reeg responded to an analysts' question on the sale of its Korea venture by saying: "Korea has gone, we sold it for some barbecue pork. We sold it back to our partners and have no more commitment. We're out."
The planned gaming and entertainment zone in Incheon, South Korea, is facing delays on almost all fronts, mainly, but not entirely, due to the coronavirus pandemic.
R&F Properties, a Hong Kong-listed company that bought out Caesars Entertainment's share in a joint venture project in Incheon, South Korea, needs government approval to continue with the development.
The reports in the Korea media last week have proven to be correct: Caesars Entertainment has withdrawn from its project in Incheon, and in doing so gave up its last interest in Asian gaming under its new, US market-focused leadership.
Reports in the South Korean media suggest that Caesars Entertainment may have decided to completely withdraw from its IR project in Incheon, South Korea, in order to focus exclusively on the domestic US market.
Ambitious plans to build a cluster of IRs near Incheon Airport are beginning to hit roadblocks as Covid-19 disrupts financing options, according to the...
Mohegan Gaming & Entertainment’s plans for its Inspire Korea IR in Incheon are coming into much clearer focus, especially after CEO Mario Kontomerkos outlined his firm’s vision to Korean journalists earlier this month.