G3-247 Report SOUTH KOREA
Casino operator Genting
LOTTERY: Korea Lottery System LOTTERY REVENUE: ₩3.2tr
SPORTS-BETTING: Sports Toto and Sports Proto
HORSE RACETRACKS: 3 BOOKMAKERS: 30 (KRA outlets) HORSE RACING REVENUE: ₩7.8tr (turnover) CYCLING REVENUE:₩2tr
CASINOS: 17 CASINO SLOTS: 2,235 CASINO TABLES: 842 CASINO REVENUE:₩2.7tr TOTAL GGR:₩19.34tr ($18.2bn)
6 0
Singapore and Chinese property developer Landing International Development are also planning
to build a $2.2bn casino resort in Jeju although not yet has been approved as of yet.
which is a multi project urban development area in Busan to incorporate communications, video, entertain- ment and international business. A resort costing around ¥35bn comprising of hotel and entertainment will be developed around this.
In addition casino operator Genting Singapore and Chinese property developer Landing International Development are also planning to build a $2.2bn casino resort in Jeju although not yet has been approved as of yet.
The deal was announced in February 2014 in Hong Kong and marks Gentings first foray into Korea.
The resort will be called Resorts World Jeju and will include luxury hotels, a shopping mall, a theme park and residential facilities.
Landing International has been looking for a partner since 2013 to develop a 2.3 million sq.m area in Jeju. The resort is hoping to attract high rollers from China and will include 800 tables of which 200 will be for high rollers.
There will be a theme park, shopping mall, villas and apartments plus three hotels. Construction is due to begin in June and will be based on Genting’s Resort World Sentosa.
THE CASINOS SEOUL
PARADISE WALKER-HILL CASINO is located in Kwangjin-Gu in the Sheraton Walker Hill Hotel with views of the nearby Han River. The casino opened in 1968 and there are some 90 gaming tables (55 Baccarat,
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