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MACAU BUSINESS By José Carlos Matias By Paolo A. Azevedo


Jeju – the new Singapore


M


The gaming law revision is finally in motion with tighter rules and supervision for operators and junkets, as expected. However, some proposed measures in the consultation paper are raising eyebrows among industry insiders, who are calling for clarification. The new model points to increased oversight, national and economic security interests, a more people-oriented approach and a definite push for diversification


downtown Seoul and Lotte Super Tower. We’re trying 18 OCTOBER 2017 in the making 18 NOVEMBER 2021


acau Business – From Lotte World, a major recreational complex [with the world’s largest indoor theme park, in Seoul] to an integrated resort with casino in Jeju. A different beast. A


natural evolution? Lawrence Teo – Business is the same. But building


Restructuring


a landmark. M. B. – The group [Lotte] has created other landmarks in different types of business. Why would this be different? L. T. – Yes, Lotte Group has already created


Jeju will be as big as Singapore in terms of Gross Gaming Revenue, predicts Lawrence Teo. The Chief Operations Officer and Vice President of Dream Tower, the tallest Integrated Resort under construction on the Korean destination island, explains to Macau Business why Lotte Tour decided to enter the casino business and create a landmark. All bets are on making the casino resort the crown of the tourism jewel the company has been dominating for four decades


to do the Dream Tower in Jeju. Lotte here is being just a family company; we’re a different company [Lotte Tour]. It’s not going to be [just] the tallest and the largest building in Jeju, that’s just the hardware. We say that a landmark should be the most visited destination, where tourists will go to eat, shop and maybe [visit] our observation deck. A must-visit point destination. Because of the hardware, and also the software.


M. B. – What are the main goals that you definitely


want to achieve with this Integrated Resort (IR)? L. T. – Number one EBIDTA on IR in Korea. There’s


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