More than 30 companies are competing for two licences to build and operate a casino resort in Korea.
According to The Korea Times, the Ministry of Culture, Sports and Tourism – which is responsible for the issuing of casino licenses – is expected to announce the location of the two casinos this month.
Both locations will be for foreigners only and it is expected that one of the locations will be at Incheon. The winner of that licence will not be among the bidders for the other licence, which will be for a casino resort close to Seoul, the capital.
There are 34 companies altogether in the line-up including major names such as Grand Korea Leisure and Kolon Global and the winners will be announced in December.
The ministry has already issued licenses for two casino resorts on Yeongjongdo Island, Incheon. A Chinese-US consortium, LOCZ Korea and Caesars Entertainment have won the rights and will open in 2018. At the same time, Paradise, the largest operators of casinos in Korea will build one at Paradise City, near Incheon International Airport. The country has 16 casinos, all for foreigners which in 2013 grossed US1.1bn in revenues and attracting 2.7m foreign passport holders.
