Genting Singapore to build South Korea casino
The project will include gambling facilities, luxury hotels, a shopping mall and a theme park, to be built on a 2.3 million-square meter site, the two companies said Friday in a joint statement. The resort will be opened in phases starting in 2017, the statement said.
Genting Singapore, which operates the Resorts World Sentosa integrated resort in the Southeast Asian city-state, is a unit of Malaysian gambling group Genting.
In related news, South Korea eases limits on foreign casino investment to boost tourism. The Korea Times reports that the country will relax rules on casino ownership that restrict foreign investment.
Ministry of Culture, Sports and Tourism said investors with a credit rating beneath BBB would be allowed to hold casino licenses. The government is hopeful the move will boost tourism, but says it will not open the country’s 17 casinos to Korean gamblers.
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