South Korea's Ministry of Culture, Sports and Tourism granted a final foreigner-only casino license to Inspire Entertainment Resort on Yeongjong Island in Incheon on January 23, the ministry said on January 241. It is the first new foreigner-only casino license since 2005 and the first granted to a foreign investor under the Free Economic Zone Act1.
An 11-member review committee of specialists assessed on January 19 that Inspire met all legal requirements for a casino license and had carried out the integrated resort plan it submitted during pre-screening1. The ministry said the license conditions include continued investment in the non-casino entertainment sector and fulfillment of additional investment plans1.
"이는 2005년 이후 19년 만의 외국인 전용 카지노업에 대한 신규 허가이자, 경제자유구역법을 통해 외국인 투자자에 대해 이뤄진 최초 허가다."
Inspire is a Korean corporation wholly funded by Mohegan, which operates eight integrated resorts worldwide1. It was selected in March 2016 under the ministry's integrated resort tender and received a pre-screening suitability notice, a preliminary step toward a foreigner-only casino license1.
The resort opened provisionally on Yeongjong Island on December 30 after about four years of first-phase construction1. It is the second large integrated resort on Yeongjong Island, after Paradise City, which opened in April 20171. When a fourth phase is completed in 2046, it is expected to become Northeast Asia's largest integrated resort1.
What it means for players
The license is foreigner-only, so the casino is not open to South Korean nationals. Entry rules for foreigner-only casinos in South Korea are covered in Casinos in South Korea: Who Can Go In and Can Foreigners Gamble in South Korea?. Inspire sits in a special economic zone, where entry rules differ from other venues, as explained in Casinos in Special Economic Zones and Islands. Details of the property are in Inspire Casino Incheon, and it is listed alongside its Incheon neighbor in Casinos in Incheon: Paradise City and Inspire. Games available at Korean casinos are set out in What Games You Can Play in Korean Casinos, and poker specifically in Can I Play Poker in South Korea?. The wider context of restricted gambling is covered in Why Gambling Is So Restricted in South Korea.
What happens next
The ministry said the license requires continued investment in the resort's entertainment sector and delivery of further investment plans1. No dates for those additional investments were reported. Inspire's fourth phase is scheduled for completion in 20461.
Sources1 sources
- 문체부, 영종도 인스파이어 외국인 카지노 허가…19년 만에 신규 | 연합뉴스, yna.co.kr
