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Mohegan Gaming & Entertainment partnering with Paramount on theme park component of South Korean integrated resort

Dec 10, 2018 Asia, Attractions, Business, News, Theme Parks, Themed Resorts/Hotels, World markets Comments Off on Mohegan Gaming & Entertainment partnering with Paramount on theme park component of South Korean integrated resort

Mohegan Gaming & Entertainment partnering with Paramount on theme park component of South Korean integrated resort

 

Mohegan Gaming & Entertainment’s multibillion-dollar, multi-phase integrated entertainment resort (IER) currently in development in South Korea, Inspire Integrated Entertainment Resort (Inspire), and Paramount Pictures Corporation (Paramount) announce a strategic partnership to incorporate a Paramount Pictures-branded theme park as part of Northeast Asia’s largest IER expansion underway in the Incheon International Airport’s (IIAC) IBC-III Region.

“We are proud to have Paramount Pictures join us as a strategic partner in the development of our innovative integrated entertainment resort concept,” said Kevin Brown, Chairman of the Mohegan Tribe and MGE Management Board. “With Paramount alongside as we answer the demand of today’s consumers, the Inspire IER model not only displays our commitment to trend-setting in this industry but also demonstrates the Mohegan Tribe’s commitment to growing South Korea’s travel, tourism and workforce development goals, while securing the generational sustainability of the Mohegan Tribe.”

Kevin Suh, EVP Themed Entertainment for Paramount says, “Paramount is proud to announce Korea as one of the first locations for a world-class Paramount branded theme park. Paramount looks forward to its partnership with Inspire and to be part of one of the world’s premiere entertainment destinations at Inspire.”

“We are pleased to have the major global force in entertainment, Paramount, on our impressive and growing list of strategic partners for Project Inspire,” said Mario Kontomerkos, Chief Executive Officer for Mohegan Gaming and Entertainment. “Aligning with highly sought after and recognized brands with mutual goals is a key component to the creation of the world’s first true integrated entertainment resort.”

Phase 1A of Inspire’s multi-phased development on just over 420 acres (1,700,000㎡) of Incheon Airport’s 1,079-acre (4,367,000㎡) IBC-III parcel of land includes:

• A 5-star resort hotel with over 1,250 rooms, suites and villas
• A 15,000-seat state-of-the-art concert and sports arena
• Casino space offering 150 table games and 700 slots/electronic games
• A hemispherical dome featuring over 48,000 square-feet (4,500㎡) of climate-controlled indoor pool space with rides, dining and retail
• Approximately 204,000 square-feet (19,000㎡) of conference and convention space including the largest hotel ballroom in Incheon/Seoul at 60,460 square-feet (5,617㎡)
• Groundbreaking is scheduled for May 2019 and official opening planned for 2022

Inspire’s phase 1B includes the over 99-acre (404,000m2) Paramount Picture-branded theme park with connecting entertainment and retail village scheduled to open in 2025. Building upon the anticipated success of the two major phased openings, Inspire’s presence in the region will contribute to South Korea’s national economic development through job creation and the introduction of new tourism around Incheon Airport, a Northeast Asian hub airport, driving the growth of the country’s domestic tourism industry in terms of both quality and quantity.

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