In South Korea and the government for the semi-autonomous province of Jeju has reportedly shelved a controversial proposition that would have allowed mainland citizens to enjoy gambling at any of the island territory’s eight casinos. According to a report from Inside Asian Gaming, the decision came as a result of local opposition as well as concerted resistance from officials in Gangwon Province, which is home to the 293,700 sq ft Kangwon Land Casino. The source detailed that the original proposition […]

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In South Korea and local casino operator Lotte Tour Development Company Limited has reportedly announced that it intends to officially premiere the gambling element within its new Jeju Dream Tower development from next month. According to a Tuesday report from Inside Asian Gaming, the $1.4 billion property ‘soft launched’ its restaurants, retail shops and five-star Grand Hyatt Jeju hotel last December and now intends to begin welcoming gamblers to its in-house Dream Tower Casino before the conclusion of June. The […]

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In South Korea and local casino operator Lotte Tour Development Company Limited has reportedly received final approval to bring a gambling element to its new Jeju Dream Tower development. According to a Thursday report from GGRAsia, the Seoul-headquartered firm opened the 1,600-room Grand Hyatt hotel within the $1.42 billion property in December and has long intended to complement this offering by premiering an almost 54,000 sq ft casino featuring an assortment of as many as 300 slots and 150 gaming […]

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Lotte Tour Development Co., promoters of the upcoming Jeju Dream Tower Casino Resort on Jeju Island (pictured above) in South Korea, have raised 40 billion Wons (US $35.4 million) towards the project by issuing convertible bonds through a third party placement, Asian casino industry newsletter GGRAsia reports. According to the promoters, the money will be used to buy a “foreigners-only casino license” but also as operating capital. The bonds issued were non-guaranteed convertible bonds that carry a 1% yield to […]

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As it looks to develop a casino on South Korea’s Jeju Island, Hong Kong-listed New Silkroad Culturaltainment Limited is hoping to raise at least $188.96 million via a proposed share subscription offer to existing shareholders. Controlled by Chinese firm Macrolink Real Estate Company Limited via its Macrolink Culturaltainment Development Company Limited subsidiary, New Silkroad Culturaltainment Limited is a leading wine distributor in Asia and revealed that it intends to issue between 916.45 million and 976.85 million new ordinary shares each […]

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