The casino resort project in the Incheon Free Economic Zone failed to extend the opening deadline for the first phase by 12 months. The Ministry of Culture, Sports and Tourism confirmed this information to the GGRA.
RFKR, which is pursuing plans for foreigner-only casinos in Incheon, is a company linked to Hong Kong-listed Chinese developer Guangzhou R&F Properties Limited and has applied to extend the opening date of the property on Dec. 29. However, the ministry told GRSA on Tuesday morning that “RFKR’s casino business license has officially been annulled.”
The ministry declined to comment further except to clarify that the RFKR side would appeal the decision for 90 days. GGRAsia has approached RFKR for comment on the ministry’s statement.
The most recent extension of the deadline was announced on March 17, 2023, marking the fourth site launch schedule revision since 2018, when Legacy Caesars Entertainment Corporation was a casino partner in the scheme. In early 2021, it was revealed that the casino brand acquired by El Dorado Resorts, a U.S. regional casino operator, had divested its investment in South Korea.
RFKR promised to resume construction by July 2023 at the time of the fourth deadline change, but that milestone was missed. According to the Incheon Free Economic Zone Authority (IFEZA), the public body overseeing the region, about 25 percent of RFKR’s plans have been developed although construction has been suspended since 2020.
The previous RFKR plan is in Yeongjong Island, near Incheon International Airport, the main airport in Yeongjong Island.
The site is close to Mohegan Inspire Entertainment Resort, another foreigner-only casino complex operated by the U.S.-based Mohegan Tribal Gaming Authority, and trades under Mohegan Gaming & Entertainment. The latter launched the casino in early February after a launch for non-gaming in late November. It had an official launch ceremony on Mar. 5.
In addition, Incheon has Paradise City, a casino complex exclusively for foreigners, which was launched in 2017 by Korea’s Paradise and Japan’s Sega Sammy Holdings
BY: 바카라사이트