The Innovation Group congratulates Mohegan Sun on securing the winning bid to construct an integrated destination resort in Incheon, Korea. The Inspire Resort, with an estimated Phase One cost of US$1.6 billion, will be developed by a consortium led by the Mohegan Tribal Gaming Authority ("MTGA"), in the well-established development zone near Korea's Incheon International Airport. The bid was won in a highly competitive tender pathing the way for Incheon's most ambitious leisure project to date, and Mohegan Sun's first foray outside of the United States. Its partners in the project are KCC Corp., a South Korean chemical company, and Incheon International Airport.
The Innovation Group was retained by MTGA to assess the market potential and prepare a demand and feasibility study for the Inspire Resort, which will include a 20,000-square meter casino with 250 gaming tables - including 50 VIP tables - and 1,500 slot machines, a three-tower luxury hotel complex with 1,350 rooms, a premier entertainment arena with capacity for up to 15,000 attendees for cultural and sport events, more than 18,500 square meters of shops, restaurants, art exhibit and music entertainment areas, a Paramount Studios themed amusement park, and a 33,000-square meter eco adventure park.
The study conducted by The Innovation Group includes a detailed forecast of gaming revenue generated by the casino and supporting amenities within the Inspire Resort. Bobby Soper, President of MTGA, applauded The Innovation Group's contribution to the analysis and overall positioning of the Inspire Resort: "The projections and programming inputs provided by The Innovation Group were a critical component of our comprehensive bid. The company will continue to be a valued resource in the planning and development of the resort."
While gaming is accessible only for foreigners and Korean citizens with foreign passports, the proposed Inspire Resort offers a variety of high quality non-gaming amenities to serve the entire market. The Innovation Group study incorporated an analysis of local patronage for non-gaming uses, tourism trends, the competitive landscape, Asia VIP and mass market dynamics, and site infrastructure considerations affecting feasibility. The study was the driver of project analytics included in Mohegan's winning bid.