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Local Name:
인스파이어 엔터테인먼트 리조트는
Budget:
5B
Announced:
30 Jun 2015
Construction Start:
May 2019
Opening:
2023
Area:
50 ha
Developer:
INSPIRE, Mohegan Gaming & Entertainment
Operator:
INSPIRE
Consultants:
Designers:
Ride Suppliers:
Other Suppliers:
  1. Targeted to open in 2022, the multi-phase development project — named Project Inspire — is expected to include
    * a three-tower luxury hotel complex with more than 1,300 five-star and six-star guest rooms
    * more than 20,000 square meters of the most sought after luxury retail brands in the world
    * more than 20 food and beverage concepts
    * a 4,500 square-meter Korean cosmetics and beauty hub (promoting Korea’s dominance in Asia in this area)
    * the largest entertainment arena in South Korea with capacity for up to 15,000 attendees, to feature the top acts, cultural and arena sporting events that have become synonymous with Mohegan Sun
    * a major brand name themed indoor/outdoor amusement park with 100,000 square meters of high-tech amusement rides
    * a 33,000 square-meter EcoAdventure Park featuring indoor rock climbing, zip lining, an indoor rainforest, and
    * an archaeology experience
    * a 20,000 square-meter casino.

    This property will be the first and only destination resort in the world with an adjacent private air terminal (FBO).


    Source: https://www.mohegan.nsn.us/Business/gaming-entertainment/project-inspire

  2. elena_ is offline Curious Chap
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    Apr 2022
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    It is confirmed now that Mohegan Gaming & Entertainment (developer) has recommenced the construction of the Resort.

    Mohegan said Hanwha Engineering & Construction Corp has “remobilized and recommenced construction work on site” including structural steelwork and below grade utility construction plus infrastructure related work such as utilities and roadways to the site.
    Source: https://www.asgam.com/index.php/2022/02/10/mohegan-says-construction-of-inspire-korea-back-underway/

    The Mohegan International President Bobby Soper gave interview where he stated that Resort opening date is expected to be in the fourth quarter of 2023. You can watch the entire interview here:


  3. mrg
    mrg is offline resortX Top Investigator
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  4. valerie is offline Curious Chap
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    Feb 2022
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    US tribal casino operator Mohegan Gaming & Entertainment says it has recommenced construction of it’s South Korean integrated resort, Inspire Korea, after completing financing late last year. Mohegan confirmed the completion of financing in November with the full US$1.55 billion in aggregate funding comprising US$575 million in equity, a KRW1.04 trillion (US$890 million) finance loan from raised through a three-bank Korean consortium – KB Securities, NH Investment & Securities and Hana Financial Investment – and KRW100 billion (US$85.5 million) from the General Contractor, Hanwha Engineering & Construction Corp.
    Mohegan said Hanwha Engineering & Construction Corp has “remobilized and recommenced construction work on site” including structural steelwork and below grade utility construction plus infrastructure related work such as utilities and roadways to the site. The procurement of major trades and long lead items is also in progress. Mohegan had stated upon securing final financing in November that it is hoping to open Inspire Korea within the first half of 2023. The development is slated to include three hotel towers, an arena, a foreigner-only casino, dining, retail, convention and entertainment options, a year-round indoor water dome experience, and an outdoor family park.
    Moreover, INSPIRE Resort entered into a strategic partnership agreement for retail development with Luxury Business Institute Korea (“Luxury Business Group”). The two companies convened a signing ceremony on Feb 8, 2022. Luxury Business Group is a consulting firm specialized in luxury and premium business industries in fashion, cosmetics, and food and beverage sectors.
    The two companies will attract lifestyle and luxury boutique stores and introduce a differentiated retail platform that combines tourism and shopping entertainment aimed at domestic and foreign travelers and casino customers. INSPIRE Entertainment Resort will attract luxury and premium brands and go beyond being established as a distinct destination that combines the advantages of Korea’s retail business and culture. This will not only give an economic lift to Yeongjong Island and Incheon’s economy but also differentiate INSPIRE by offering high quality, curated brands and experiences throughout the resort.
    Sources:
    https://inspireer.com/inspire-news/inspire-entertainment-resort-and-luxury-business-group-sign-a-strategic-partnership-agreement/
    https://www.asgam.com/index.php/2022/02/10/mohegan-says-construction-of-inspire-korea-back-underway/


  5. MarkEm is offline resortX Top Investigator
    Join Date
    Nov 2020
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    Mohegan Gaming & Entertainment (MGE), master developer of awe-inspiring integrated resorts (IR) today has announced the successful closing of financing to develop the INSPIRE Entertainment Resort on Yeongjong Island in Incheon, South Korea. The aggregate funding of $1.55 billion will be used in Phase 1 of development for the impressive IR. The project is set to open its doors in 2023 to world travelers and gaming enthusiasts, generating an anticipated spike in visitation to the region and a revival of the South Korean tourism industry following COVID-19.


    INSPIRE Integrated Resort Co., Ltd. (INSPIRE), MGE’s wholly-owned Korean subsidiary, now has in place the funding needed for the completion of construction of the project, which includes a total of $575 million in equity combining MGE’s $300 million investment and the $275 million raised through global private equity firms, Bain Capital and MBK Partners, and 1.04 trillion Korean won project finance loan (approximately $890 million U.S. dollar equivalent) raised through a three-bank Korean consortium including KB Securities, NH Investment & Securities and Hana Financial Investment, with the participation of Korean financial institutions and with Kookmin Bank Co., Ltd. as facility agent to the loan. Hanwha Engineering & Construction Corp. is the General Contractor for the project, which has provided a completion guarantee as well as a subordinated investment to the project in the amount of 100 billion Korean won (approximately $85.5 million U.S. dollar equivalent). Hanwha Hotel and Resort Co., Ltd. is also participating as a strategic partner of the project and as the hotel operator.
    The development of the INSPIRE Entertainment Resort is underway within the IBC-III region of the Incheon International Airport, Yeongjong District, Incheon Free Economic Zone, with the current construction completion progress at approximately 12%. Targeted to open in 2023, INSPIRE Entertainment Resort will be the largest IR in Northeast Asia once completed.
    Source: https://inspireer.com/inspire-news/mohegan-gaming-targets-2023-opening/

  6. ResortsAhoy is offline resortX Top Investigator
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    Jul 2019
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  7. stasia is offline New User
    Join Date
    Dec 2021
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    1
    Here are some architectural drawings of the Inspire Entertainment Resort Incheon by Hetzel Design:






    According to the Prnewswire, around 12% of the resort has been already built:

    The development of the INSPIRE Entertainment Resort is underway within the IBC-III region of the Incheon International Airport, Yeongjong District, Incheon Free Economic Zone, with the current construction completion progress at approximately 12%. Targeted to open in 2023, INSPIRE Entertainment Resort will be the largest IR in Northeast Asia once completed.
    Inspire Entertainment Resort collaborated with Kyung-in Women’s University(“KWU”) and awarder 3 scholarships to develop a uniform for housekeeping and water dome:

    “We look forward to unique uniform designs that are uniquely Korean and spark with creativity by collaborating with KWU students, who are poised to become K-fashion leaders heading the next K-wave,” said Inspire CEO Andrew Billany who added that “going beyond discovering young outstanding local talents in fashion design, we expect that the uniforms reflecting K-fashion trends will project an impressive brand image to foreigners visiting Northeast Asia’s largest IR.”
    Sources:
    http://architecture.hetzeldesign.com/project/inspire-entertainment-resort-incheon/
    https://www.prnewswire.com/news-releases/mohegan-gaming--entertainment-mge-successfully-completes-financing-for-inspire-integrated-resort-in-korea-targets-2023-opening-301432732.html
    https://inspireer.com/inspire-news/collaboration-with-young-local-talents-who-will-lead-the-next-k-fashion/

  8. SiteSeeing101 is offline resortX Top Investigator
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    Nov 2021
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    Major development— Korean construction company Hanwha Engineering & Construction has been appointed as the main contractor for the project. More details below:

    Hanwha Engineering & Construction signed an agreement with the Korean subsidiary of Mohegan Gaming & Entertainment (MGE) to build a big casino resort on Yeongjong Island, Incheon after the U.S. resort operator finished financing 1.8 trillion won ($1.5 billion) needed for the first stage of construction.

    Measuring 4.3 million square meters (46.3 million square feet) in land area, the Inspire Entertainment Resort is being described as Korea’s largest casino venue. It is supposed to open in 2023 near Incheon International Airport.

    The phase one development will cover three five-star hotel buildings, a 15,000-seat multifunction performance hall, a foreigners-only casino, a convention facility, a year-round indoor water park and a large outdoor theme park.
    Source: https://koreajoongangdaily.joins.com/2021/12/01/business/industry/Hanwha-Engineering--Construction-Mohegan-Gaming--Entertainment-Inspire-Entertainment-Resort/20211201175534775.html

  9. Images from February 2020







    Source: Google Maps

  10. Marina is offline Park Investigator
    Join Date
    Nov 2021
    Posts
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    INSPIRE Entertainment Resort Grand Opening in 2023 was announced on the official website on March 31, 2021:

    The approved change plan incorporates sustainable development and forward-looking strategies, given the realistic and practical shifts in the tourism and hospitality industry hard hit by the COVID-19 crisis. Following this approval, INSPIRE will focus all efforts on the closing of its project financing and its anticipated opening in 2023.
    Source: https://inspireer.com/inspire-news/inspire-coming-2022/

    An article published on November 9, 2021 from another source informs that Mohegan Gaming is hoping to open INSPIRE, originally set for 2022, in late 2023.

    "We are thrilled to hear the news of the awaited business plan change approval from the government,” said Andrew Billany, CEO of INSPIRE. “We plan to normalize the resort construction shortly".
    Billany said the new opening target of 2023 is the result of COVID-19 impeding construction, and “realistic and practical shifts in the tourism and hospitality industry.”

    Source: https://www.casino.org/news/mohegan-gaming-redirecting-international-energies-south-korea/



    Source: https://www.ggrasia.com/inspire-rfkr-could-get-extra-time-if-invest-more-ifeza/

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