In South Korea and local casino operator Lotte Tour Development Company Limited has reportedly announced that it intends to officially premiere the gambling element within its new Jeju Dream Tower development from next month.
According to a Tuesday report from Inside Asian Gaming, the $1.4 billion property ‘soft launched’ its restaurants, retail shops and five-star Grand Hyatt Jeju hotel last December and now intends to begin welcoming gamblers to its in-house Dream Tower Casino before the conclusion of June. The source detailed that this 53,800 sq ft casino is currently undergoing final inspections of its gaming equipment and security systems while simultaneously finishing off training for its relevant marketing and service personnel.
Seoul-headquartered Lotte Tour Development Company Limited reportedly received final authorization from the provincial council for Jeju Province in March to transfer the casino license for its nearby Paradise Casino Jeju Lotte venue to the 38-story Jeju Dream Tower. This move will purportedly permit the gambling element within the latter property to premiere complete with an assortment of up to 300 slots and as many as 150 gaming tables.
The foreigner-only Dream Tower Casino within the dual-tower Jeju Dream Tower development, which sits on a 75-acre parcel of land located less than two miles from Jeju International Airport, is reportedly destined to open as the third largest enterprise of its kind in South Korea behind only the analogous offerings from the giant resorts at Paradise City and Jeju Shinhwa World. Visitors to this gambling-friendly service will purportedly moreover be able to enjoy access to a 1,600-room hotel, 14 restaurants and bars, a retail mall, an outdoor pool deck, a pair of spas and a top floor sky-deck lounge.
Park Seong-Ho from Taiwanese investment bank Yuanta Securities reportedly proclaimed that the coming Dream Tower Casino could well chalk up total sales of over $180.5 million for the whole of next year if South Korea achieves ‘herd immunity’ to the coronavirus pandemic by the end of 2021 and subsequently relaxes ‘immigration restrictions’ with China. The analyst purportedly furthermore disclosed that such an outcome may lead to the venue on the tourist-friendly island of Jeju becoming the Asian nation’s most profitable casino ahead of Paradise City and the Landing Casino enterprise inside Jeju Shinhwa World.
Inside Asian Gaming finished by reporting that the opening of Jeju Dream Tower’s non-gaming attractions came some 40 years after the site for the prominent property was purchased by Lotte Tour Development Company Limited forerunner Dongwha Investment and Development Company Limited. This entity purportedly began excavation works in 1984 but subsequently halted its activities before resurrecting the project 24 years later and officially reviving construction from May of 2016.