The official opening of the revamped casino at Hyatt Regency Jeju Hotel (pictured), in South Korea, will be held on January 18, Hong Kong-listed Landing International Development Ltd said in a filing.
Landing International, a mainland Chinese property developer, controls the resort but the casino is owned by Grand Express Korea Co Ltd, a 50-50 joint venture with Genting Hong Kong Ltd, a subsidiary of Malaysian conglomerate Genting Bhd.
Genting Hong Kong invested KRW130 billion (US$117 million) in the Hyatt Regency Jeju project.
The foreigners-only casino at Hyatt Regency Jeju Hotel will be operated under the name ‘Genting Jeju’. The venue has 26 baccarat tables, one blackjack table, one tai sai table (a dice game known in Macau as sic bo), one roulette table and 16 slot machines, Landing International said in Thursday’s filing.
“The board considers that the grand opening of the Jeju Casino opens a new phase of the group’s presence and participation in the Korean casino industry,” the firm said.
Landing International has two other casino investments in South Korea. Last month, the property developer said it would acquire the Alpensia casino at Holiday Inn Resort in Pyeongchang for HKD868.7 million (US$112 million). The deal is expected to close next month.
Landing International is also linking with Genting Singapore Plc, another unit of the Genting Group, to build a US$2.2 billion casino resort on South Korea’s Jeju Island, expected to break ground by the second quarter of 2015.
Aug 16, 2019JP Morgan Securities (Asia Pacific) Ltd says it expects the protests that have been taking place for several weeks in Hong Kong to have a minor negative impact on Macau’s casino gross gaming...
Aug 16, 2019
Aug 16, 2019
"We’re not quite sure what’s going to happen in the world of junkets… it’s difficult to ignore the media and related responses in the case of Crown over the last few weeks”
Chief executive of SkyCity Entertainment Group