South Korea’s City of Incheon and China’s Macrolink Group signed an agreement to bid for a license to develop a casino resort in the city, according to Reuters.
Citing an Incheon government official, Reuters reported that the resort concept would be submitted by the end of June and the size of the investment had yet to be decided.
Macrolink representatives were not available for comment.
South Korea announced earlier this year it would issue around two licenses to operate integrated resorts by the end of this year.
The government specified that parties seeking to build and operate resorts must pledge at least 1 trillion won ($894.32 million) in investment for proposals to be eligible.