South Korea – Jeju Dream Tower aiming to launch casino gaming by MarchBy Phil - 5 January 2021
Lotte Tour Development Co is now looking to launch its casino at Jeju Dream Tower by March.
It will apply for a permit before the end of January to relocate its foreigner-only casino at the Lotte Hotel Jeju to Jeju Dream Tower. The US$1.4bn development that opened on December 18 2020 without cutting the ribbon to its gaming floor.
The two 38-storey towers boast 1,626 rooms inside the 75-acre facility with the foreigner-only casino destined for the second floor. The 98,166 sq ft casino will house 300 slots and 150 gaming tables with the overall facility boasting 11 restaurants.
Ki-Byung Kim, Chairman and Chief Executive Officer for Lotte Tour, said: “With the solid partnership that has been formed between Greenland Group, China’s largest property developer and co-developer of this project, China State Construction Engineering Corporation, the world’s largest construction company and main contractor who provided an unconditional complete guarantee, and Grand Hyatt as hotel operator, the Jeju Dream Tower integrated resort is expected to become a major tourist destination on Jeju Island. It will also create 3,000 jobs including hoteliers and casino dealers and contribute tens of billions of Korea won to the Jeju Tourism Promotion Fund every year.”
The relocation would increase the current gaming positions by almost five times from five gaming tables and 51 slots.
Jeju Dream Tower is now the tallest building in Jeju at 38 floors or 169 meters high.
Lotte Tour COO Lawrence Teo, who was once in charge of Melco Entertainment’s VIP-focused Altira Macau, said: “We want to be the Marina Bay Sands of Jeju. We know what tourists want.”