A Caesars Entertainment and Lippo joint venture
South Korea approves first foreign-owned casino
2014-03-25
Reading time 22 seg
(South Korea).- The South Korean government has approved construction of the country’s first foreign-owned casino-resort. The US$2.2 billion proposed casino at Incheon will only be open to foreigners and will be developed through a joint venture of US casino operator Caesars Entertainment and Hong Kong-listed property developer Lippo.
The Tourism Ministry said the resort will be built near Incheon International Airport, west of Seoul.
The resort will have a casino, hotels, housing, convention centres and shopping malls.
South Korea already has 17 casinos owned by its own companies. All but one are open only to foreigners.
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