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This is an artist’s conception of a casino resort to be developed by Genting Singapore PLC and China’s Landing International Development on Jeju Island. / Courtesy of JDC
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By Choi Kyong-ae
A casino resort will be developed on Jeju Island by two Asian companies over the next five years, the Jeju Free International City Development Center (JDC) said Sunday.
Casino operator Genting Singapore PLC joined hands with Chinese property developer Landing International Development Ltd. to develop and run the 2.3 trillion won ($2.2 billion) resort on the southern island, the JDC said in a joint statement.
The integrated resort to be built by 2018 will have a luxury hotel, convention center, theme park, shopping mall and gambling facilities on the western part of the island, the statement said.
“The island’s first casino resort is expected to create jobs and give a big boost to the local economy once completed,” a JDC official said by telephone. “If the Jeju government gives full support for the project, its construction is likely to start as early as July or August.”
Genting Singapore, a unit of the Malaysian Genting Group, currently operates the Resort World Sentosas integrated resort in the city-state.
Resort World Sentosas, located northwest of the Sentosa Islands off Singapore, cost 6 trillion won to complete in 2009, and attracted about 16 million tourists in 2012.
In Asia, major economies such as Japan and Korea have in recent years focused on building integrated resort towns that have casinos to lure gambling customers from China and other countries.
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