The Covid-19 pandemic may be a trigger for South Korea to rethink its foreigner-only casino policy, as the country’s casinos struggle with a lack of tourism revenue.
Lotte Tour Development Co., the company behind Jeju Dream Tower, has announced KRW 240 billion (US$213.6 million) rights offering to complete construction of its integrated resort. Existing shareholders will have first priority in subscribing for this rights offering. Rights unsubscribed by the existing shareholders will be offered to the general public for subscription. Mirae Asset […]
Lotte Tour Development Co, the company behind the proposed Jeju Dream Tower Integrated Resort is raising funds through the issuance of KRW 40 billion (US$35.3 million) of convertible bonds. A Lotte Tour Company official said that the money raised will be used to acquire one of existing foreigners-only casino license in Jeju, and for working […]
South Korea’s three major operators are likely to come through the economic downturn caused by the Covid-19 pandemic without too much difficulty, but the smaller and weaker operators on the island of Jeju may face a much tougher time, analysts say.
With its pristine, golden beaches and exotic temples, Asia has cemented itself as a premium tourist region, attracting millions of travellers every year. Yet, these same attractions may also be keeping them away from Asia’s integrated resorts, with many tourists no longer drawn by slot machines and gaming tables, instead preferring to spend their hard-earned time and money on non-gaming entertainment options. So how do IRs stay relevant?