There appear to be two more South Korea casino projects on the horizon.
The North Jeolla provincial government said it is in talks with two or three US and Chinese investors to build a US$926m integrated resort with a foreigners-only casino in the Saemangeum area.
Saemangeum is on Korea’s south-western coast, home to the world’s longest seawall (pictured), and about a three-hour flight south of Seoul. North Jeolla intends to seek casino approval from the South Korean government within the first half of the year.
Meanwhile, Philippine-listed Bloomberry, which operates the new Solaire casino resort in Entertainment City near Manila, has purchased 30 acres on Muui Island near Incheon where its planning what it describes as a leisure and tourism complex. Bloomberry has not specifically said whether it plans a casino there.
Earlier this month, the South Korean government said it would open up bidding for two foreigners-only casinos, each with a minimum investment of $925m.
Two casinos near Incheon already are in the works, one by the consortium led by Caesars and the other a joint venture of Sega Sammy of Japan and Korea’s Paradise Co.
Korea is one of the areas, like the Philippines and the Russian city of Vladivostok, that intends to compete for Chinese gamblers.
Source: Fantini’s Gaming Report
