The promoter of Jeju Dream Tower (pictured in an artist’s rendering), a new resort with foreigner-only casino located downtown in the South Korean holiday island of Jeju, is now aiming for a “full opening” of the project “before the end of this year”. The company had previously flagged the intention to launch the project during the month of October.
The revised schedule for launching the project was confirmed to GGRAsia by Lawrence Teo, chief operating officer (COO) and executive vice president at the promoter firm, Lotte Tour Development Co Ltd.
Mr Teo justified the delay with the additional time required to complete the construction of Jeju Dream Tower, amid the Covid-19 pandemic.
“It [Covid-19] affected the sourcing of many different kinds of construction materials from all over the world. Material sourcing was very difficult during the first half of the year,” Mr Teo told GGRAsia in an email reply.
The Lotte Tour executive also confirmed that a number of staff hired for Jeju Dream Tower was to start working at the complex in October. The company was now in the process of seeking relevant approvals from various government bodies for the opening, he added.
The construction of the Jeju Dream Tower began in May 2016. Its 38 floors make it the tallest building on Jeju. The complex is to house a Grand Hyatt-branded hotel as well as a casino and other leisure facilities. The new resort complex will also feature a so-called “Han-collection” retail space with products by local fashion designers, according to local media reports citing a Lotte Tour’s announcement.
Jeju Dream Tower passed the “social impact” check by the local authorities in August, which was an assessment on the impact that 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-operations capacity, according to the local gaming regulator, the Casino Policy Division.
As of October 5 (Monday), Jeju island had recorded a total of 59 Covid-19 infection cases, being among the regions within South Korea that have the lowest incidence rate of the virus, according to data from the Korea Disease Control and Prevention Agency. Countrywide, South Korea had a total of 24,239 confirmed Covid-19 infections as of Monday.
Currently, all foreign nationals in a short-term visit to South Korea are subject to a 14-day quarantine at government-designated facilities at their own expense. All passengers entering South Korea are also required to get a Covid-19 virus test upon arrival.
Oct 28, 2020A “strong” liquidity profile and “high cash balance” should support Macau casino operator Wynn Macau Ltd through the Covid-19 crisis, said Lucror Analytics, an independent research firm based...
Oct 28, 2020
Oct 28, 2020
Income from gaming operations reported by Philippine casino regulator-cum-operator Pagcor for the first nine months of 2020