February 26, 2016 / 5:35 AM / 2 years ago

S.Korea picks Mohegan Sun consortium to operate new casino resort

SEOUL, Feb 26 (Reuters) - South Korea chose on Friday a consortium of U.S.-based Mohegan Sun and KCC Corp as the operator for a new casino resort with plans to open in 2020, subject to planned investments of 1.5 trillion won ($1.21 billion) being made.

The country’s tourism ministry said in a statement it was giving the green light to a consortium between Mohegan Tribal Gaming Authority, which owns the Mohegan Sun casino in Connecticut, and construction materials maker KCC for a licence to operate an integrated resort with foreigner-only gaming in Incheon, west of Seoul.

The consortium, called Inspire Integrated Resort, plans to break ground on the new resort by early 2017 and begin operations in early 2020, representative director Kang Yeon-sup told Reuters after the ministry made its selection public.

$1 = 1,235.6000 won Reporting by Joyce Lee; Editing by Kenneth Maxwell

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