Brand-new South Korean casino Jeju Dream Tower’s opening pushed back to end of 2020
The opening of the Jeju Dream Tower, a brand-new Integrated Resort (IR) casino which is currently under construction South Korea’s island of Jeju, has reportedly been pushed back by around a couple of months.
Jeju Dream Tower was originally scheduled to be opened to gambling and entertainment enthusiasts sometime in the ongoing month of October, but promoters have indicated that the foreigner-only facility will be likely be ready to welcome guests just before the end of this year.
Lawrence Teo, the Senior Vice President (SVP) and Chief Operating Officer (COO) of Lotte Tour Development Company Limited, said the opening of the Jeju Dream Tower was delayed because of the COVID-19 pandemic, which caused months-long lockdown in the country. In a recent interview, Mr. Teo said they needed more time to complete the project as the pandemic affected their ability to source materials for the project. Mr. Teo stressed that sourcing became difficult during the first half of the current year, mainly because of the COVID-19 health crisis.
Justifying the delay in the launch of the new facility, Mr. Teo said, “Covid-19 affected the sourcing of different kinds of construction materials from all over the world. Material sourcing was very difficult during the first half of the year.”
As of 5th of October, Jeju Island reported a total of 59 positive cases of Covid-19 infection. Nationwide, South Korea reported a total of 24,525 confirmed cases of the potentially lethal disease as of Monday.
While the official opening of the IR casino is still two months away, staff members will start working at the new resort before the end of this month. Fast approaching its scheduled opening, the operator is working closely with various government agencies to get required approvals to start operations.
The Jeju Island’s Casino Policy Division is meanwhile busy in assessing the economic impact that the new gambling property would have on the island’s housing and tourism industries, along with evaluating educational, environmental and security concerns.
Lotte Tour Development Company Limited, which is the main promoter of the casino project, acquired the Paradise Casino Jeju Lotte for a disclosed amount from Paradise Co. Ltd. back in 2018. The main objective behind the acquisition was to swap the casino license to a new gambling property. Now, that casino license will be used to operate the Jeju Dream Tower.
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