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RESORTS WORLD FOR SOUTH KOREA
Genting Singapore is partnering with Landing International to develop Resorts World Jeju, a US$2.2bn casino resort
South Korea - Operations
Genting Singapore is partnering with Chinese property developer Landing International Development to develop Resorts World Jeju, a US$2.2bn casino resort, marking Genting’s first move into South Korea.
AUSTRALIA – ADELAIDE CASINO’S PLATINUM ROOM SkyCity has opened a A$7m Platinum Room at its Adelaide Casino, marking the venue’s first move to attract more high rollers from other states and countries. The conservatory- style room for VIP players is themed on the 1920s and boasts 11 custom-designed chandeliers fitted with 1100 Swarovski crystals brought in from Austria.
The Platinum Room houses 150 slots and heralds the begin- ning of a $350m expansion that will include a six-star, 100- suite, 14 storey hotel. SkyCity’s General Manager of Business Development Aaron Morrison described the latest addition as ‘Gatsby-like.’
“We have assembled a truly world class team of architects, interior designers and builders to deliver an entertainment environment that is second to none in South Australia and equal to any other interstate or overseas,” he said.
Its opening following the conclusion of agreements with the South Australian Government with further enhancements ongoing throughout 2014. New tax rates have been intro- duced for Premium Gaming and Automated Table Games with new product for South Australia being deployed; namely Automated Table Games and slots with TITO. A voluntary pre-commitment system and automated risk monitoring has also been introduced. The casino also recently opened a new table games area focussing on Baccarat and featuring an iconic Asian style Pavilion as its centrepiece. This area opened on 31 January in time for Chinese New Year. The slots have been enabled with ticket-in ticket-out (TITO) and have been set with maximum bets of up to $100 although this could be changed to unlimited bets if high rollers request.
JAPAN – JCM TO SPONSOR JAPAN GAMING CONGRESS JCM's Tom Nieman with Clarion's Julian Graves JCM, the international currency validator, has been confirmed as the first commercial sponsor of May’s Japan Gaming Congress to be held May 14 to 16 in Tokyo. The announce- ment was confirmed on the second day of ICE Totally Gaming during the Asia Breakfast Focus which featured key speakers including Toru Mihara, Director, The Institute of Amusement Industry Studies, Osaka University.
Tom Nieman, JCM’s Vice President of Global Marketing, said: “I think for the first time the political planets in Japan are aligned in terms of gaming and we are extremely excited about the opportunity of being able to bring our industry home. It’s going to be an exciting time in May and Clarion’s timing for the Congress could be perfect. We see ourselves not just as a commercial partner, but also as something akin to a cultural ambassador – we are fluent in both Japanese and gaming. We are proud to be associated with this momentous event and look forward to another productive relationship with the team at Clarion.”
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Featuring roller coasters, hotels with castle-like facades and replicas of monuments like the Taj Mahal and the Pyramids, the iconic destination will be Jeju Island’s largest tourism resort to date.
Landing International and Genting Singapore will jointly own, manage and operate the integrated resort when it opens progressively from 2017.
The total estimated cost for the integrated devel- opment is approximately US$ 2.2bn. The 2.3m sq. m. of land for the integrated development was acquired by Landing Jeju Development Company from Jeju Free International City Development Center in 2013 with the intention to build a global standard tourism destination.
Yang Zhihui, Chairman of Landing International, stated: “We have long been interested in estab- lishing a presence outside Mainland China. We are excited to form this strategic partnership with our world-class partner, Genting Singapore to develop and operate this flagship project in Jeju Island in the pursuance of an integrated resort, which will herald a brand new experience for visitors and tourists. By leveraging the expertise and experi-
ence of Genting Singapore in the gaming and inte- grated resort development and the Group’s man- agement experience in property development projects, we are confident that the Jeju Project will become another fully integrated destination resort in Asia.”
Genting Singapore’s Chairman Tan Sri Lim Kok Thay said: “We are delighted to have the opportu- nity to be the first foreign and global operator to develop an integrated resort in Korea. We are con- fident that together with Landing International, we will create a game changer for tourism devel- opment and employment in Jeju island.’’
Genting Singapore’s President and Chief Operating Officer Tan Hee Teck said: “Our invest- ment in Jeju establishes Genting Singapore’s cre- dentials as a pedigree integrated resort developer that builds successful and exciting destinations that are iconic tourism attractions. This project fits well into our growth strategy in our areas of core expertise.’’
South Korea has 16 foreigner-only casinos whose main business comes from China and Japan.
Sociedade de Jogos de Macau kick-starts Cotai casino project
MACAU Sociedade de Jogos de Macau (SJM) has started work on its lat- est casino project in Macau, breaking ground on its US$3.9bn Lisboa Palace, its first develop- ment in the Cotai area.
The French-themed Lisboa Palace will offer 700 tables and 1,200 slots. Set to open in 2017, it will have three hotels with more than 2,500 rooms, including a luxury hotel in partnership with Italian fashion designer Versace. The cost of the resort will come in at least HK$5bn over the origi- nal budget.
Ambrose So, Chief Executive Officer of SJM Holdings said: “We made the HK$25bn estimate about a year ago. Now that the costs of construction materials and labour have risen, we
believe a HK$30bn price tag is more realistic.”
Lisboa Palace will initially cover 70,500 sq. m. although the resort’s footprint could eventual- ly be tripled.
Union Gaming Group’s Grant Govertsen said that a French theme ‘resonates well’ with Chinese customers. “Mainland consumers view Europe in gen- eral and France in specific as very aspirational destinations,” he explained.
Philippines City councillors in the Philippine city of Bacolod City have questioned the legality of the Philippine Amusement and Gaming Corp’s latest casino opening in the city’s L’Fisher Hotel. Pagcor’s was believed to be transferring an existing casino licence from the Goldenfield Commercial Complex to the L’Fisher Hotel Annex Building without needing a “Resolution of No Objection (Rono) from the city’s politicians. However when the casino opened in the second week of January, Pagcor did not transfer the Casino Filipino Bacolod to another location, but opened another, completely new venue at L’ Fisher Hotel.
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