20th Century Fox plans to build a new US.5 billion theme park in South Korea by 2018 as part of a gaming resort in South Gyeongsang Province.
The province has concluded an agreement with the studio, which is part of an international consortium developing a movie-themed attraction in Changwon near Busan that will cover 2.8 million square meters.
Opening is slated for the second half of 2018 and plans call for a six-star hotel, a water park, a cinema, retail shopping and a golf course in addition to the casino.
The resort will be the second for 20th Century Fox, which is also building a park as part of a redevelopment and expansion of Genting Malaysia’s Resorts World Genting hotel and gaming complex north of Kuala Lumpur.
South Korea is home to 17 casinos, only one of which is open to Korean citizens, and the government is allowing more in a bid to increase tourism receipts and drive foreign investment.
New project include a joint-venture gaming resort led by Caesars Entertainment, which could open as early as 2018, and one also near Incheon under development by Paradise Co., the country’s largest foreigners-only casino operator, in partnership with Japan pachinko giant Sega Sammy Holdings. Opening is slated for 2017.
Gaming revenue in South Korea was around US$2.7 billion last year.
