South Korea Casino Plan worth $3 Billion
South Korea is the latest Asian country to begin planning a massive casino since they’re currently mulling over a $3 billion proposed plan. The proposal comes via the operator of South Korea’s biggest airport, Incheon International Airport Corp., and the idea is to build a resort-style casino that would increase tourism throughout the country.
Going further, Incheon International wants to bring in some of the rich high rollers that visit casino destinations like Macau. An unnamed spokeswoman for the company said as much by stating, “We plan to develop the property like the resorts in Las Vegas or Macau.”
As for the specifics of the casino, it’s going to be built 31 miles (50km) outside of Seoul, and would feature a hotel, convention center, shopping malls and hospitals, in addition to the casino floor. It’s unclear as to when this ambitious casino plan would be completed, but most casinos of this size and complexity take at least four years to be finished.
Many Asian countries and territories are finding that casinos are big business since Macau and Singapore have experienced huge success as of late. In fact, Macau is now far and away the world’s largest gambling destination, and its casinos pulled in over five times the revenue that second-ranked Las Vegas did.
In the relatively short time that Singapore has had casino gaming, they’ve already become one of the world’s top gambling centers. In fact, Incheon International Airport Corp. is hoping to model their future casino after the Singapore Marina Bay Sands. This hotel and casino features a giant gaming floor, three huge hotel towers, and a spectacular rooftop area complete with a pool, clubs and restaurants. This being said, it will be quite interesting to see how the South Korea casino looks when it’s done.