Mohegan delays starting point at additional Paramount Park in South Korea

U.S. regional tribal casino operator Mohegan Gaming and Entertainment on Thursday announced a “strategic partnership” with the global producer and distributor of the casino resort Paramount Pictures Corporation, which is under construction next to South Korea’s Incheon International Airport.

Under the deal, Mohegan Gaming will add a Paramount Pictures-branded theme park to its casino resort, which it is currently building in South Korea. The property is called Inspire Integrated Entertainment Resort.

A $5 billion Inspire (artist’s rendering photo) is being developed in phases. On Thursday, the company said the first phase of the plan will open in 2022, a delay compared to the previously announced 2021 opening. In a recent announcement, the company said it expected the start of the Inspire project in May 2019.

The first phase of the South Korean project, which has a price tag of $1.6 billion, will feature 1,250 hotel rooms, shops, foreigner-only casinos, convention venues, and entertainment amenities including a 15,000-seat concert and sports arena.

In an announcement on Thursday, Mohegan Gaming said the Paramount-branded theme park will be part of Inspire’s “Phase 1B” set to open in 2025.

“We are proud to have Paramount Pictures join us as a strategic partner in the development of the innovative integrated entertainment resort concept,” Kevin Brown, Chairman of the Mohegan Tribe and the Mohegan Gaming Management Board, said in a prepared statement.

He added, “The Inspire model, along with Paramount to meet the needs of today’s consumers, not only demonstrates our willingness to set trends in this industry, but also demonstrates the Mohegan tribe’s willingness to grow Korea’s travel, tourism, and workforce development goals while securing generational sustainability for the Mohegan tribe.”

In a release, Paramount’s vice president of thematic entertainment, Kevin Sur, said, “Paramount is proud to announce South Korea as one of the first locations for its global Paramount brand theme park. Paramount looks forward to partnering with Inspire and becoming one of Inspire’s top entertainment destinations in the world.”

In October, Mohegan Gaming announced a “multi-year partnership” with Live Nation Entertainment, a concert promoter, for the Inspire Project. The casino operator said at the time that the partnership will “ensure that Project Inspire venues will attract the best of global talent and create the most exciting entertainment experiences in the region.”

On Thursday, Mohegan Gaming also reported fiscal fourth-quarter earnings for the year ending Sept. 30. The company said its net profit fell 27.2% year-over-year to $37.7 million.

BY: 온라인카지노

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