South Korea

 

Grand Korea Leisure (114090:Korea SE), which operates three casinos under the Seven Luck brand in Seoul and Busan, saw revenue exceed 1 trillion won, or US $919 million, for the first time during the fourth quarter.  Chinese visitors represented 36.7 percent of total cash and markers wagered, a strong increase on last year.  GKL recently doubled the number of marketing personnel deployed for the Chinese mainland market.

 

 

Las Vegas-based Caesars Entertainment Corp. (NASDAQ:CZR) is moving forward with a joint-venture casino project in South Korea with Lippo Group (226:HK), according to a statement from the Indonesian conglomerate, The Wall Street Journal's Kate O'Keeffe reported. The two companies have agreed to the terms on which they will seek government permission to develop a casino-resort in Incheon, a city near the country's capital of Seoul. Caesars will own 40% of the venture, Lippo will own 20%, and another partner will hold the remaining 40%, the statement indicated, without elaborating.

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