Genting To Build New Casino In South KoreaCasino Developer To Spend More Than $1 Billion In Joint Venture |
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A new casino is coming to South Korea’s Jeju Island. The price tag? A whopping $2.2 billion.
The firms behind the plan are Genting and Landing International Development.
According to Bloomberg, “Resorts World Jeju will be modeled after Genting’s Resorts World Sentosa, one of Singapore’s two gambling resorts, and will be developed by a 50-50 joint venture formed by the two companies.”
The casino is slated to have 800 tables, including 200 for high-stakes gamblers, the firm said at a media briefing on Feb. 7. The site for the massive project has 2.3 million square meters. In addition to the gambling and dining options, it will have an amusement park, a mall, luxury apartments and three hotels. Altogether, there will be 2,800 rooms.
Construction is scheduled to begin in June, with the first phase set to open in 2017.
About 4.3 million Chinese tourists reportedly visited South Korea last year, as the casino resort will target visitors from eastern and northern China.
Genting is one of the top casino developers in the world. It has developed properties in the Americas, Australia, Malaysia, the Philippines, Singapore and the United Kingdom.
The firm was one of those vying for a casino in South Florida.
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