Jeju Dream Tower is a brand-new resort in the works on the island of Jeju in South Korea. The resort is currently under construction and will be a foreigner-only location. The facility was planning to launch by October, but now, promoters are saying the resort will be ready before the end of 2020.
The new opening time frame for the project was confirmed by GGRAsia after the news outlet spoke with Lawrence Teo. Mr. Teo is the executive vice president and chief operating officer of Lotte Tour Development Co Ltd., the promoter firm for the property.
Like everything in 2020, the delay is due to the COVID-19 pandemic. More time is needed to complete the construction as the pandemic affected the project’s ability to source materials for the property. Sourcing was difficult during the first half of the year.
On top of the new opening time frame, Mr. Teo also reported that staff members will start working at the property this month. The company is also working towards government approvals as it nears opening.
Lotte Tour Development Company Limited purchased the Paradise Casino Jeju Lotte from Paradise Company Limited back in 2018. The goal of the purchase was to swap the property license to a new casino, which would be the Jeju Dream Tower.
Back in January, the local Casino Policy Division regulator in Jeju started to assess the local economic impact that the casino would have on the island’s housing as well as tourism, along with evaluating security, educational and environmental security concerns.
A deliberation committee was to be established at this time to deliberate the casino proposal before a final decision would be made. By August, the casino passed a social impact check after the assessment was completed.