Caesars might not build a casino in Incheon, near Seoul in South Korea.
Lippo, the Hong Kong real estate developer that owns 55 per cent of the joint venture with Caesars, says the deal is in jeopardy because the partners might not buy the land for the casino before the December 31 option expiration.
The plan was to build a $700m phase one by 2018 and have an eventual $2bn multi-hotel project. If the foreigners-only casino isn’t built it will be the latest retrenchment for Caesars, which recently sold its interests in Ohio casinos and a Kentucky racetrack to Rock Gaming.
Source: Fantini’s Gaming Report
