South Korea granted Inspire Integrated Resort a license to operate a foreigners-only casino at its resort in Yeongjong Island, Incheon, on Jan. 24. This is the first time in 19 years that the government has granted permission to open a new foreigners-only casino in the country.
The country currently has 17 casinos that cater exclusively to foreigners.
The Ministry of Culture, Sports and Tourism expects the new license will pave the way for the Inspire Resort to establish a model for a Korean-style complex resort and boost the appeal of the country’s tourism sector. The license terms include ongoing investment in various forms of entertainment beyond the casino and the implementation of additional investment plans.
Inspire Resort is a Korean subsidiary owned by Mohegan Gaming & Entertainment, a U.S. company that operates eight integrated resorts worldwide. Inspire Resort has invested approximately $1.6 billion, including $695 million in foreign investment, to develop the Inspire Entertainment Resort in Incheon.
The resort features a casino, a 15,000-seat performance arena, a five-star hotel, international conference halls, a large-scale indoor water park, a shopping mall, and restaurants.
“The Inspire Resort is set to attract foreign casino customers and foreign tourists interested in Korean music, content, and culture,” said an industry insider.
The resort is expected to boost employment in the tourism sector. It employed 2,330 people by the end of last year and plans to hire another 2,400 by February.
