Mohegan Sun To Pay $101M To Control Korean Resort Project

Law360 (May 4, 2018, 4:56 PM EDT) -- The operator of the tribal-owned Mohegan Sun casino in Connecticut said Thursday it will spend $101 million to buy out its South Korean partner’s stake in a "first-of-its-kind, multibillion-dollar," 1,350-room resort and 215,000-square-foot casino planned for development at Incheon International Airport outside Seoul.

Mohegan Gaming and Entertainment made its announcement when reporting its fiscal second-quarter earnings, saying it plans to shell out capital expenditures totaling $101 million in fiscal 2018 for the South Korean "Project Inspire," with $12.2 million already spent in the six months ending March 31 and another $88.8 million to be spent in the remaining forecasted fiscal year....

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