Opening in phases through 2019
The Landing Casino on Jeju Island, South Korea may eventually be moved from its current location to an integrated resort currently opening in phases on the same island, says Landing International Development Ltd.
According to a report in GGRAsia, the casino now located at the Hyatt Regency Jeju Hotel saw revenues fall 24.8 percent year-on-year to approximately HKD174.5 million (US$22.3 million) in the six months to June 30. The decline prompted the Mainland China developer to think about shifting the casino to Jeju Shinhwa World, which opened Phase I in April.
“It is recognized that a casino is one of the most essential facilities within an integrated resort to complement better offerings to its visitors with a complete hospitality experience; and in order to leverage and utilize current casino operation resources within the group’s business as a whole, the group is exploring the possibility of relocating Landing Casino to Jeju Shinhwa World,” the firm said in a filing to the Hong Kong Stock Exchange.
It added that Jeju Shinhwa World will open “progressively from the fourth quarter of 2017 onwards, and the entire project is expected to be completed by 2019.” Last month Landing made a deal with Hollywood media group Lions Gate Entertainment to develop a theme park at the resort. That facility is slated to begin construction in 2018 and open in 2019.
According to the filing, the family-friendly theme park will offer “more than 20 rides and attractions in seven different zones under the themes of myths and legends from different parts of the world, a water park and one of South Korea’s most exciting retail and food complex.”
Eventually, Jeju Shinhwa World will have more than 2,000 hotel rooms, and meeting and conference facilities.
