Jeju Shinhwa World, previously known as Resorts World Jeju, is an intergrated resort located in Jeju, South Korea, slated to open in the second half of 2017. Spanning across a site area of approximately 2.5 million square metres, this iconic integrated resort will include: -Family theme park offering more than 20 thrill and adventure rides and attractions in 7 different zones, themed after the worlds’ myths and legends;Premium hotels with an aggregate of more than 2,000 luxury hotel rooms and villas. The hotels are equipped with multi-purpose convention facilities, well-suited for hosting regional and international meetings, incentives, conventions and exhibitions;World-class gaming, cultural, leisure and entertainment facilities;Jeju’s largest retail and food and beverages complex and a destination spa; andLuxury resort condominium apartments and villas.The IR is developed and operated by Landing International Development through its subsidiary Landing Jeju Development Co., Ltd.
Hong Kong-listed Landing International is looking to raise HK$138.8 million (US$17.9 million) through the issuance of new shares in order to upgrade facilities at Jeju Shinhwa World.
Only two out of eight casinos are currently open on Jeju island in South Korea, which saw revenue from its foreigner-only properties drop 60 percent last year.
Landing International Development has turned optimistic on its prospects for recovering most of the cash that it lost in the bold robbery carried out in Jeju over the New Year holiday period.
The Korean media reports that much of the board-level leadership of Jeju Shinhwa World has recently been changed, though the company denies that this has any connection with the recent major theft of funds.
The Jeju Tourism Service Union, LEK Branch of the Federation of Korean Trade Unions, is accusing Landing International of both inept and opaque management practices surrounding the major theft of cash as well as the unfair dismissal of four Jeju Shinhwa World employees.
It may not precisely be Ocean’s Eleven, but the theft from the casino at Landing International Development’s Jeju Shinhwa World has nevertheless captured the imagination of both the Korean domestic and the international news media.
The management Jeju Shinhwa World is locked in an increasingly bitter dispute with its employee labor union over allegedly deteriorating worker conditions and interference in protected labor union activities.
A labor union representing workers at Shinhwa World in Jeju is demanding that the company enforce protections vis-a-vis cigarette smoking, pointing out that even in Macau smoking is now prohibited in casinos.
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.
Landing International Development posted a wider loss for 2019 and said it’s seeking to raise $137.1 million ($17.6 million) through a placing of shares to support general working capital for its operations on Jeju Island, South Korea.
Landing International Development says it has become recently aware of an HK blockchain company that has created a website purporting itself as being linked to Landing International and Jeju Shinhwa World. Landing International said that the company, named HK Shenhua World Blockchain Tech Development Limited, which is offering what it calls a Shinwa Token and […]
Landing’s relocation of its Landing Casino to Jeju Shinhwa World has paid off, with the company reporting a 360 percent increase in revenue for the six months ended June 30, 2018. The group’s consolidated revenue reached HK$1.8 billion (US$222.9 million), driven mainly by gaming revenue, which reached HK$1.4 billion in the first half of the […]
Landing International’s casino at Jeju Shinhwa World is said to be exclusively using JCM Global solutions to protect its slot devices. In a press release, JCM Said it has exclusively provided its iVIZION bill validator, GEN5 thermal printer, and ICB Intelligent Cash Box to the 5,500-square meter casino. “In planning Landing Casino at Jeju Shinhwa […]
Landing International Development celebrated the grand opening of Jeju Shinhwa World on Thursday at the Landing Convention Centre. The event was hosted by Dr Yang Zhihui, chairman and executive director of Landing International. Also present at the ceremony was Mr Liu Zhifei, deputy consulate general of the Consulate General of the Peoples Republic of China […]
Landing International officially opened Jeju Shinhwa World Landing Casino on Sunday, with the ceremony officiated by Dr. Yang Zhihui, chairman and executive director of Landing International and Jay Lee, CEO of Landing Jeju Development Co. The group received approval on February 21 to relocate its Landing Casino to Jeju Shinhwa World, and increase the exclusive […]
Hong Kong-listed property developer Landing International said it has received permission to relocate its casino on Jeju Island in South Korea to its new integrated resort and the facility will open on Feb. 25. Jeju’s government gave the company permission to increase its gaming floor area to about 5,500 square meters, about seven times the […]
Landing International has been forced to delay the transfer of its casino on Jeju island to its new IR complex after protests from local residents, the Korea Times reports. The foreigner-only casino had been scheduled to move from the Hyatt Regency Jeju to Jeju Shinhwa World this month, but has failed to win approval for […]
Integrated resort developer Landing International says the official opening of Jeju Shinhwa World will be on December 8, 2017. Landing said that Shinhwa Theme Park will be open to the public on September 30, 2017, offering 15 rides and attractions themed by TUBAn, while YG Town, the k-pop themed bar and cafe, is expected to […]
Hong Kong-listed Landing International Development Ltd has announced it has successfully placed 24 billion shares on Thursday, raising around HK$1.8 billion (US$230.3 million). In a filing to the Hong Kong Stock Exchange on Friday, Landing said it intends to apply the net proceeds from the placing for the development of Jeju Shinhwa World and to […]
Jeju Shinhwa World is set to add a new K-pop entertainment center, named YG Town, to its non-gaming offerings, Yonhap News reports. The K-pop leisure complex will feature a cafe and bowling alley designed by BIGBANG leader G-Dragon. The announcement follows recent news of a planned movie theme park at Jeju Shinhwa World, called Lionsgate […]
Landing International Development Ltd says it is now expecting to record a net profit for the six months ended June 30, 2017, compared to a net loss in the prior year period. Earlier this month, Landing International told investors it was expected to record a narrowed net loss for the interim period. According to a […]
Hong Kong-listed Landing International Development has announced an agreement with LionsGate Entertainment to develop a theme park at Jeju Shinhwa World integrated resort. The theme park, named Lionsgate Movie World, will be Lionsgate’s first branded outdoor theme park, which will be built exclusively around world famous movies. The theme park will span 122,000 sqm, and […]
Landing International Development has inked an agreement to launch a luxury Four Seasons resort within Jeju Shinhwa World. The Four Seasons Resort, which is scheduled to be opened in 2019, will include approximately 240 lavishly furnished guest rooms, suites and exclusive villas, with a variety of tailor-made restaurants and bars and will be equipped with state-of-the-art facilities […]
Casino resort developer Landing International Development Ltd on Wednesday announced the opening of Somerset Jeju Shinhwa World, the first phase of Landings’ new Jeju project. Managed by hospitality operator, Ascott Limited, Somerset Jeju Shinhwa World offers 344 units of three-bedroom resort condominium units with thoughtfully furnished and designed interiors. Somerset Jeju Shinhwa World also offers […]
Hong Kong-listed Landing International Development Ltd has warned investors it expects to record an increase in net loss for the year ended December 31, 2016. The increase in loss, according to a filing from the company, is attributed to a change in fair value of financial assets at fair value through profit or loss; an […]
Hong Kong-listed Landing International Development has announced it is now the sole owner of the foreigner-only casino project in Jeju, South Korea. In December, the company announced it was planning to take the remaining share of Jeju Shinhwa World project, previously known as Resorts World Jeju after Genting announced its exit from the project. At […]
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.
Asia’s ever-growing number of IRs are seeking to add non-gaming attractions to diversify their tourism base and provide a unique draw, but the jury is out as to whether combining casinos with theme parks can provide a winning combination.