This file photo provided by the Inspire Entertainment Resort shows an interior view of the resort on Yeongjong Island in Incheon, about 30 kilometers west of Seoul. (Image courtesy of Yonhap)
SEOUL, Jan. 24 (Korea Bizwire) — The Ministry of Culture, Sports and Tourism said Wednesday it has granted Inspire Integrated Resort Co. a license to operate a foreigners-only casino at its resort in Incheon.
This marks the first time such permission has been granted in South Korea since 2005.
Currently, South Korea has 17 casinos, all catering exclusively to foreigners except for Kangwon Land.
Ministry officials expect the new license granted Tuesday will serve not only to establish a model for Korean-style integrated resorts but also to significantly bolster the country’s tourism industry.
Inspire Integrated Resort Co. is a Korean subsidiary wholly owned by Mohegan Gaming & Entertainment, an American company that operates eight integrated resorts globally.
It invested approximately US$1.6 billion, including foreign investment, in constructing the Inspire Entertainment Resort on Yeongjong Island in Incheon, about 30 kilometers west of Seoul, a location near Incheon International Airport.
The resort provisionally opened its doors in November after about four years of a first-stage construction project and plans to open in stages by 2046.
Apart from the casino, the resort features a 15,000-seat arena, a five-star hotel, an international conference hall, a large-scale indoor water park, a shopping mall and various restaurants.
(Yonhap)
