Las Vegas Sands says it will build a $4.5bn casino in Busan, South Korea, if the government allows nationals to gamble there.
LVS has the support of Busan Mayor Suh Byuing-soo, but getting an exemption to allow nationals to play is a long shot. LVS has shown that it will only build casinos where its requirements are met, most recently formally ending is pursuit of the $30bn EuroVegas in Spain because the country would not accommodate it on taxes and in a smoking ban exemption.
Meanwhile, other developers are moving ahead even under the current no-nationals rule. The latest is Genting Singapore who, with Chinese partner Landing International Development, has broken ground on a $1.8bn resort in Jeju.
Source: Fantini’s Gaming Report
