• 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

New Silkroad wins approval for Jeju casino project

Mar 18, 2019 Newsdesk Latest News, Rest of Asia, Top of the deck  


New Silkroad wins approval for Jeju casino project

New Silkroad Culturaltainment Ltd says the governor of the South Korean island province of Jeju has given a subsidiary, Macrolink Glorious Hill Co Ltd, formal permission to pursue its Glorious Hill casino resort project on the island.

New Silkroad told the Hong Kong Stock Exchange on Friday that the Glorious Hill development promised to bring in “sustainable” revenue.

In 2017 New Silkroad announced that it had taken control of Macrolink Glorious Hill, putting money into it with a view to developing a big resort complex at Glorious Hill, including a “large-scale casino”.

New Silkroad said last year it had a stake of 55 percent of the Glorious Hill project. The company said the development would contain five-star hotels, shops, homes, an entertainment complex, healthcare facilities, a theme park and a golf course.

New Silkroad already runs the MegaLuck casino in the Jeju KAL Hotel on the island. The casino admits only foreigners.

The company announced last August that its gaming business on Jeju made a gross profit of HKD28.69 million (US$3.66 million) in the first half of 2018, or 193.7 percent more than a year earlier, on revenue of HKD54.32 million, 57.8 percent more, as the amount of business it did in the VIP gaming market grew.

In 2017, New Silkroad said it had formed a strategic alliance with Melco International Development Ltd that would see Lawrence Ho Yau Lung’s casino development company provide planning, development and implementation advisory services for what it called a “new casino”, as well as the preparation and marketing events for the casino’s commercial launch. Melco International controls Melco Resorts and Entertainment Ltd, the firm behind Macau’s City of Dreams complex, the Altira and Studio City casino resorts, as well as the City of Dreams in Manila.


  • tweet
Related articles
  • China demand a boon to S.Korea casinos: brokerage
    China demand a boon to S.Korea casinos:...

    Mar 14, 2023  

  • Annual net casino sales double y-o-y at Jeju Dream Tower
    Annual net casino sales double y-o-y at...

    Mar 14, 2023  

More news
  • APE narrows annual loss as revenue up 38pct
    APE narrows annual loss as revenue up...

    Mar 28, 2023  

  • Foreigners can use HK-Macau free ticket says tourism boss
    Foreigners can use HK-Macau free ticket...

    Mar 27, 2023  


Latest News

APE narrows annual loss as revenue up 38pct

APE narrows annual loss as revenue up 38pct

Mar 28, 2023  

Hong Kong-listed Asia Pioneer Entertainment Holdings Ltd (APE) reported revenue of just above HKD10.5 million (US$1.3 million) for full-year 2022, up 37.7 percent from the prior year. The firm...
Read More
Foreigners can use HK-Macau free ticket says tourism boss

Foreigners can use HK-Macau free ticket says tourism boss

Mar 27, 2023  

Raffles hotel checks complete at Galaxy Phase 3: MGTO

Raffles hotel checks complete at Galaxy Phase 3: MGTO

Mar 27, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us