• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

First phase of Landing’s new Jeju project opened

Apr 26, 2017 Newsdesk Latest News, Rest of Asia, Top of the deck  


First phase of Landing’s new Jeju project opened

A South Korea casino hotel complex – developed and operated by mainland Chinese real estate firm Landing International Development Ltd – had its initial-phase “grand opening” on Tuesday, the promoter announced.

The resort, called Jeju Shinhwa World, on the holiday island of Jeju, opened on Tuesday 344 units of accommodation called Somerset Jeju Shinhwa World. The latter facility (pictured in part) is operated by The Ascott Ltd, a wholly-owned unit of Singapore’s CapitaLand Ltd.

“Somerset Jeju Shinhwa World is the first international-class fully-serviced resort condominium in Jeju, offering 344 units of three-bedroom resort condominium units with thoughtfully furnished and designed interiors,” Landing International said in a Tuesday filing to the Hong Kong Stock Exchange.

“Somerset Jeju Shinhwa World also provides a wide range of modern amenities such as a clubhouse with a spacious lobby lounge, and a fully-equipped gymnasium, a restaurant offering international cuisine, as well as an indoor playroom and a large outdoor play area for children,” the document added.

Landing International said it expected to open further accommodation  – branded under the “Marriot” trademark – at Jeju Shinhwa World “in late 2017”.

The filing did not provide details on gaming facilities planned for Jeju Shinhwa World that have previously been announced. Under present South Korean law, gaming space at Jeju Shinhwa World will only be accessible to foreign players.

South Korea currently has 18 casinos but only one – Kangwon Land in a remote upland area – is allowed to serve South Korean nationals.

A March press release from Landing International said that other facilities would open at Jeju Shinhwa World from “late 2017″. The entire development is expected to be completed by 2019, according to previous company statements.

The firm already owns and operates a casino on Jeju Island, branded Landing Casino, located at the Hyatt Regency Jeju Hotel. In April 2016, Landing International acquired Les Ambassadeurs Club and Casino, an upmarket gaming venue in London in the United Kingdom.

Genting Singapore Plc, operator of the Resorts World Sentosa casino resort in Singapore, had announced in November 2016 it was disposing of its rights to participate in Jeju Shinhwa World – a project previously under the working title of either “Myths and History Park” or “Resorts World Jeju” – in order to focus on other projects, including a potential investment in Japan.

According to some investment analysts, the South Korean market for inbound tourism is currently facing headwinds due to a political row between that country and China over the siting on South Korean soil of a U.S.-supplied missile system – known as Terminal High Altitude Area Defense (THAAD) – designed to counter North Korea’s ballistic missile programme.

Reuters news agency said in a recent report that the number of Chinese visitors to South Korea fell 39 percent year-on-year in March. The Korea Tourism Organization had previously announced that – respectively in January and February – the tally of such visitors had risen by 8 percent from a year earlier.


  • tweet
Related articles
  • Paradise 4Q loss up sequentially, positive EBITDA
    Paradise 4Q loss up sequentially,...

    Feb 26, 2021  

  • Kangwon licence extension to come with tax rejig: JP Morgan
    Kangwon licence extension to come with...

    Feb 24, 2021  

More news
  • Aristocrat to launch EGM-based responsible gaming features
    Aristocrat to launch EGM-based...

    Feb 26, 2021  

  • Suncity to open clubs at Londoner Macao, Lisboa Palace
    Suncity to open clubs at Londoner...

    Feb 26, 2021  


Latest News

Aristocrat to launch EGM-based responsible gaming features

Aristocrat to launch EGM-based responsible gaming features

Feb 26, 2021  

Casino slot machine maker and digital games provider Aristocrat Leisure Ltd says it plans to launch in the first quarter this year a new product with responsible gaming features, which has already...
Read More
Suncity to open clubs at Londoner Macao, Lisboa Palace

Suncity to open clubs at Londoner Macao, Lisboa Palace

Feb 26, 2021  

Tech supplier Crane ups forecast for 2021 core sales

Tech supplier Crane ups forecast for 2021 core sales

Feb 26, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day


US$53.4 million

Adjusted EBITDA reported by Asian casino operator Melco Resorts and Entertainment for the fourth quarter of 2020



Most Popular

  • Macau casino GGR soared in final days of CNY: brokeragesMacau casino GGR soared in final days of CNY: brokerages February 23, 2021
  • Pansy Ho sells off more stock in MGM Resorts for US$36mlnPansy Ho sells off more stock in MGM Resorts for US$36mln February 23, 2021
  • Macau removes last mainland cities from its quarantine listMacau removes last mainland cities from its quarantine list February 23, 2021
  • Macau VIP challenged by changes in China: Galaxy Ent bossMacau VIP challenged by changes in China: Galaxy Ent boss February 25, 2021
  • Galaxy Macau Phase 3 MICE to launch in stages says execGalaxy Macau Phase 3 MICE to launch in stages says exec February 24, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us