Inside Asian Gaming

JUNE 2018 INSIDE ASIAN GAMING 19 MARIO KONTOMERKOS MOHEGAN GAMING AND ENTERTAINMENT Muhammad Cohen: Where do things stand with the Inspire integrated resort project at Korea’s Incheon International Airport? Mario Kontomerkos: We are very advanced in the process. We’ve spent over US$15 million advancing with design and we are in the construction costing process for it. So you can see we are very committed to the process. We are at the point now where we feel very confident that by the end of the year, if not sooner, we will be breaking ground and starting construction in earnest in Incheon. MC: How has the plan evolved since its original conception? MK: We’ve learned a lot of things since we’ve come to Korea. I think one of the things we’ve learned is that the non-gaming aspects of our development can be as important, if not more important, than the gaming aspects. We’ve learned that Korean consumers are the highest consumers per capita of themed entertainment. We’ve learned that Korean consumers are probably the highest consumers per capita of movies as entertainment. So the light has gone on regarding several different non-gaming developments. You are going to see us in the next few months aggressively trying to expand our non-gaming offerings in a way that I think will be very, very special. MC: When you said highest consumers of movies, does that mean going to the theater to watch movies? MK: Yes, per capita, folks in Korea are watching movies at a much higher rate than any other country. Not watching on their mobile or at home, but going out to watch the movies at theaters. We are very excited about the entertainment aspects of Korea. And as we meet with folks in Korea, they are very focused on the entertainment aspects of our resort. I think that the real differentiator is in our arena, which will be a platform for worldwide content: Western content, Korean content, plus Asian content. It is truly going to be a very special place. And then there’s other themed attractions on a large scale. I think we will be very, very well received there. We always wanted to make it the largest integrated resort in Northern Asia. The property that we are building in Incheon will certainly be able to hold all these, because we’ve got 600 acres (243 hectares) there we are developing. It is essentially a US$5 billion investment over the next 20 years. MC: Do you come there with any relevant experience with the Asian market? MK: Yes, believe it or not. The Connecticut facility is the highest- grossing facility in the Western hemisphere. We don’t do the highest volume of Asian business, but we have the largest database of Asian Despite both operating out of the third smallest state in the United States, Mohegan Sun and Foxwoods present an intriguing alternative to the large IR operators like Las Vegas Sands and MGM Resorts considered by many to be the leading contenders to win a Japan license. Foxwoods Resort Casino COVER STORY