In South Korean and local casino operator Lotte Tour Development Company Limited has reportedly announced that its Jeju Dream Tower development is set to open next month complete with a 1,600-room Grand Hyatt hotel.

According to a report from Inside Asian Gaming, the $1.42 billion property for the semi-autonomous island of Jeju has already begun accepting reservations and intends to hold an official grand opening ceremony on December 18. The source detailed that the 38-story facility is due to premiere complete with 14 restaurants and bars as well as a shopping mall, an exterior pool, a pair of spas and a top-floor skydeck lounge.

Gambling goal:

Seoul-headquartered Lotte Tour Development Company Limited moreover reportedly has plans to eventually open a 53,819 sq ft casino within its coming Jeju Dream Tower so as to offer a selection of 300 slots alongside as many as 150 gaming tables. However, the firm is still purportedly awaiting local approvals following the completion of a required impact assessment and as such is to be premiering its latest property featuring a scaled-down casino with only around 50 slots and five gaming tables.

Envisioned exchange:

Sitting on a 75-acre parcel of land located less than two miles from Jeju International Airport, the impressive Jeju Dream Tower is now the tallest structure on the small South Korean island at just over 554 feet and will moreover debut complete with a retail space to highlight wares produced by local fashion designers. Lotte Tour Development Company Limited purportedly began work on the development in May of 2016 and intends to open its enlarged foreigner-only casino utilizing a license being forfeited by its nearby Paradise Casino Jeju Lotte venue.