Jeju Dream Tower, a new resort due to have a foreigner-only casino and which is located downtown in the capital of the South Korean holiday island of Jeju, is to open on December 18, the project’s promoter confirmed to GGRAsia.
The casino will open at a later stage, as preparations for its launch are still ongoing, said a spokesperson from Lotte Tour Development Co Ltd.
Lawrence Teo, chief operating officer and executive vice president at Lotte Tour Development Co Ltd, had told GGRAsia in early October, that the group was aiming for a “full opening” of the project “before the end of this year”.
The construction of the Jeju Dream Tower (pictured) began in May 2016. Its 38 floors make it the tallest building on Jeju. The complex houses a Grand Hyatt-branded hotel as well as shops and a planned casino.
Jeju Dream Tower passed the “social impact” check by the local authorities in August, described as an analysis of the effect the project’s gaming venue would have on the host community. Such assessment is legally required in cases where an existing Jeju casino operator wishes to expand, by more than two times, its gaming-operation capacity, according to the local gaming regulator, the Casino Policy Division.
Lotte Tour Development plans to move its current casino licence from Jeju Lotte Hotel to Jeju Dream Tower. The relocation includes an expansion of the casino area from 1,175 square metres (12,648 sq. feet) – featuring five table games and 51 gaming machines – to 5,367 sq. metres, with 150 table games and 300 machines, according to previous information from the promoter. The relocation of the casino is pending completion of the casino impact study assessment by the local authorities.
Grand Hyatt Jeju features 1,600 all-suite rooms. The property also offers 14 restaurants and bars, and “world-class hotel amenities and recreational facilities,” according to the promoter.
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First-quarter gaming revenue recorded by the casino at the Jeju Dream Tower resort in South Korea