Over $1 billion is going to be spent on a new South Korean casino resort complex, based on plans by the Bloomberry Resorts Corporation. The company had previously announced their project for the casino resort and have now released more details on the pending plans. The property would include a beach resort as well as residential towers, alongside a gaming facility. Bloomberry Resorts must earn a casino license from the authorities of South Korea to move forward with gaming plans.

According to media reports, the company plans on breaking ground with the new casino resort project by 2017. The Chairman of Bloomberry Resorts, Enrique Razon, commented in a recent interview that the project would still cost over $1 billion due to the residential towers, beach resort and beach property within the city.

Bloomberry Resorts produced a filing just yesterday with the Philippine Stock Exchange which confirmed their goal to create a ‘leisure and tourism complex with entertainment facilities and mixed use development (residential and commercial)’. Bloomsberry Resorts also confirmed they are seeking approval for a gaming license for development of a casino on the property. The company already owns and operates the Solaire Resort and Casino, located in Manila Bay.