• 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
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

GKL, Mohegan Sun to partner for Incheon casino: report

Apr 15, 2015 Newsdesk Latest News, Rest of Asia, Top of the deck  


GKL, Mohegan Sun to partner for Incheon casino: report

South Korean casino operator Grand Korea Leisure Co Ltd, known as GKL, is partnering with U.S.-based Mohegan Sun to build a casino resort in Incheon’s Yeongjong Island, near the country’s capital Seoul, reports the Korea Economic Daily, quoting investment banking sources.

The move marks the Asian debut of Mohegan Sun, a player in the U.S. regional casino market where it runs three casinos in Connecticut, Pennsylvania and New Jersey, respectively.

Grand Korea Leisure is an affiliate of the Korea Tourism Organization, South Korea’s official tourism agency. The casino operator is listed on the Korea Exchange.

The firm runs three foreigners-only casinos in South Korea, under the ‘Seven Luck’ brand. Two properties are located in the South Korean capital Seoul, while the other is in the southern port city of Busan, a popular tourism destination.

The Korea Economic Daily report states that the new development will have two phases, each costing KWR1 trillion (US$911.5 million), with GKL holding a 51-percent stake in the project.

The scheme, to open fully by 2020, envisages a casino-hotel with 250 gaming tables and 1,500 slot machines, to be built in a 327,000-square metre (3.51-million sq foot) plot. The development will offer 1,000 hotel rooms and entertainment amenities, including a 20,000-seat concert arena, according to the media report.

Macau junket link

It states that Mohegan Sun will bring to the project Macau junket operator Tak Chun Group and Australia-listed boutique casino operator Donaco International Ltd.

Tak Chun controlled an estimated 10 percent of the Macau market’s VIP rolling chip turnover in 2014, according to a report published in late January by Daiwa Securities Group Inc. Gross gaming revenue for VIP baccarat in Macau – another measure of the high roller business – stood at MOP212.54 billion (US$26.6 billion) for the whole of 2014, meaning that even on the relatively thin margins of Macau junket business, the privately held Tak Chun is likely to have very strong cash flows.

Donaco is currently a one-property operator, running the Aristo International casino hotel in Lao Cai, near Vietnam’s northern border with China. The company is acquiring the Star Vegas Resort and Club casino property in Poipet, Cambodia, but the deal has faced delays, according to Donaco.

Authorities in South Korea have already approved two casino projects for Yeongjong Island. One is a venture between South Korea’s Paradise Co Ltd and Japan’s Sega Sammy Holdings Inc. The other is from Caesars Entertainment Corp and Hong Kong-listed Lippo Ltd for an integrated resort expected to be ready by 2018. The casinos inside them will also be restricted to serving foreign players.

Macau casino operator SJM Holdings Ltd has reportedly been invited to be joint manager of the Paradise Co-Sega Sammy casino.

South Korea’s government in January said it would consider bids for two new foreign-players only casino projects in the country – each with a minimum investment of KRW1 trillion.

The country currently has 16 casinos for foreigners-only and one for locals, according to the University of Nevada Las Vegas Center for Gaming Research.

Revenue in the country’s foreigners-only casinos increased 0.3 percent year-on-year to KRW1.36 trillion, Yonhap reported last month, quoting central government data.


  • tweet
Related articles
  • Jeju still studying online gaming for its casinos: govt
    Jeju still studying online gaming for...

    Jun 24, 2022  

  • Claimed US$3.5mln scam on Chinese, Daegu Casino: reports
    Claimed US$3.5mln scam on Chinese,...

    Jun 22, 2022  

More news
  • Covid-19 test certificate to enter Macau casinos
    Covid-19 test certificate to enter...

    Jun 27, 2022  

  • Parisian quarantine hotel as Macau Covid cases near 360
    Parisian quarantine hotel as Macau...

    Jun 27, 2022  


Latest News

Covid-19 test certificate to enter Macau casinos

Covid-19 test certificate to enter Macau casinos

Jun 27, 2022  

Macau’s health authorities said on Sunday that they would require all people wishing to enter the city’s casinos not only to have their body temperature measured and to display a...
Read More
Parisian quarantine hotel as Macau Covid cases near 360

Parisian quarantine hotel as Macau Covid cases near 360

Jun 27, 2022  

Maybe new Macau mass Covid test, community spread still

Maybe new Macau mass Covid test, community spread still

Jun 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$5.8 million

Amount that each Macau casino operator paid for the circa six-month extension of their respective contract



Most Popular

  • Maybe new Macau mass Covid test, community spread stillMaybe new Macau mass Covid test, community spread still June 24, 2022
  • Blackstone clinches US$6.15bln takeover of Crown ResortsBlackstone clinches US$6.15bln takeover of Crown Resorts June 24, 2022
  • Parisian quarantine hotel as Macau Covid cases near 360Parisian quarantine hotel as Macau Covid cases near 360 June 27, 2022
  • Covid-19 test certificate to enter Macau casinosCovid-19 test certificate to enter Macau casinos June 27, 2022
  • Jeju still studying online gaming for its casinos: govtJeju still studying online gaming for its casinos: govt June 24, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us