Mohegan buys out Korean IR partner

15 May 2018

US tribal casino company Mohegan Gaming & Enter-tainment (MGE) is set to take full ownership of its Korean integrated resort project In-spire after announcing it has reached an agreement to buy-out its local partner. MGE announced last week that it had “reached an amicable agreement to purchase our South Korean partner’s stake in Project Inspire, thereby bringing MGE’s ownership in the project to 100% and furthering our diversification efforts in Asia, the world’s fastest-growing major gaming and entertainment market.” Inspire had previously been a joint venture between MGE, South Korean chemicals firm KCC Corp and Incheon International Airport Corp, with KCC Corp having purchased a 24.5% stake in November 2015. MGE will pay a total of US$101 million to regain full control of the project, which is expected to break ground later this year.