A local group is urging the Jeju authorities to deny Lotte Tour Development a casino license for the Jeju Dream Tower casino.
제주참여환경연대 “도의회, 드림타워 카지노 이전 불허 의견 제시하라” (Headline Jeju)
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.
Lotte Tour Development has the potential to see a turnaround in its performance this year, according to SK Securities analyst Seung-Doo Na.
Lotte Tour Development has now acknowledged that some of its shopping facilities within Jeju Dream Tower are larger than regulations permit, but pledged to be more careful in the future.
Approval for the opening of the LT casino at the much larger premises of the Jeju Dream Tower has been granted by a plenary session of the Jeju Provincial Council on a majority vote. Police investigations of the possible manipulation of public opinion surveys are ongoing. The final decision rests with the governor.
Jeju Dream Tower is one step closer to getting a casino after the local council approved its request to transfer an existing license to the new property.
When the Jeju Dream Tower opened its doors to the public in December, the executives of Lotte Tour Development told the local press that they hoped to have all the necessary permissions to open the casino by March.
Lotte Tour Development’s hopes of gaining quick approval to open the Jeju Dream Tower casino have been frustrated as the Jeju Provincial Council has delayed a decision, opting instead to investigate accusations by a local anti-casino group that the earlier public opinion surveys may have been manipulated.
Lotte Tour Development is eagerly awaiting official permission to open the Jeju Dream Tower casino, something which will likely boost revenues considerably. However, the licensing process has been proceeding more slowly than anticipated. Originally thought likely to open in March, rearguard opposition from some civic groups could delay the matter past the end of April.
A local group has accused the authorities of showing favoritism to Jeju Dream Tower by allowing it to have a shopping area floor size that exceeds legal limits. This accusation may be part of efforts by opposition groups to head off the opening of the casino facility.
Permission from the Jeju Provincial Council for the Jeju Dream Tower casino to open this month could be delayed as an outbreak of Covid among employees of the council itself is causing meetings to be canceled.