South Korea

Kangwon Land, whose top-line growth slowed to 3.8 percent last year, is likely to see a recovery in its fortunes driven by an upgrade in its slot machines, strong domestic growth and a potential boost from the Winter Olympics next year, Morgan Stanley says.

South Korea’s first true integrated resort is to open in April, although concerns remain about the potential for growth in the foreigner-only market.

Japan’s Sega Sammy has reached an accord to exit a planned development in South Korea’s Busan to focus on an integrated resort project it is developing with Paradise Co.

South Korea’s first true integrated resort is expected to open on April 20, although concerns remain about the potential for growth in the foreigner-only market.

 

South Korea’s first true integrated resort is expected to open on April 20, although concerns remain about the potential for growth in the foreigner-only market. When Paradise Group and Japan’s Sega Sammy open their KRW1.3 trillion ($1.1 billion) property in Incheon next month, it will be the country’s first fully fledged integrated resort and the largest casino to date.



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Hong Kong-listed Lippo Limited has announced on Friday it has exited a joint casino project in Incheon, South Korea, according to a filing to the Hong Kong Stock Exchange.

Paradise Co. and Japan’s Sega Sammy will open South Korea’s first integrated resort on April 20th on a 330,000 m2 site in Incheon, near the international airport.

Genting Malaysia may be another beneficiary of China’s decision to restrict travel to South Korea as it rolls out the expansion of its Resorts World Genting resort, local media cited a Credit Suisse report as saying.

Paradise Co., the owner of four foreigner-only casinos in South Korea, reported a 13.5 percent increase in February revenue year-on-year, but sales slipped from the prior month and new Chinese travel curbs may further slow growth.

Macau may benefit from a March 3 decision by Beijing to restrict travel to South Korea, Sterne Agee said in a note.

Lottery, casino and horse racing revenues in South Korea expanded sharply in 2016 despite a long-lasting economic slowdown, local media reports.

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