Jeju Shinhwa World, an integrated resort recently built and launched on South Korea’s Jeju Island, is set to open a foreigners-only casino on February 25 after multiple previous delays, developer Landing International revealed in a Wednesday filing.
Earlier that day, the company received a conditional approval from the Jeju Special Self-Governing Province to relocate its existing casino at Hyatt Regency Jeju Hotel to its new resort. At present, Landing operates 28 gaming tables and 16 slot machines and electronic table games at its older property.
The casino at Jeju Shinhwa World will occupy 5,500 square meters and will feature 155 gaming tables with popular table games such as baccarat, blackjack, roulette, and poker, as well as 239 slot machines and electronically operated table games. As already mentioned, the casino will only admit foreign visitors. Under South Korea’s current gambling laws, Korean nationals are banned from gambling at all but one of the country’s many casinos.
Landing has said previously that it would expect its gaming revenue to account for a half of its overall revenue, once the casino portion of its Jeju Island resort opened.
Jeju Shinhwa World has been gradually opening its diverse facilities since the spring of 2017. The resort has already launched hotels, food and beverage facilities, and a theme park, which will soon be joined by the casino.
As mentioned above, Landing is set to relocate its existing casino. The developer said in its Wednesday statement that the new gambling facility is almost ready to host a soft opening on February 25. A grand opening ceremony will be staged at a later date.
The opening of the casino has been postponed several times since last spring. The gaming floor was first expected to be launched on December 8, then by the end of the year. Landing then said that the opening ceremony would take place on January 19, but failed to open it on that date, too.
The eventual launch of the casino will mark the complete roll-out of Phase One of the $1.8-plus-billion integrated resort. All its facilities are expected to be gradually launched by the end of 2019.
Facilities currently running as part of the resort include two resorts – Jeju Shinhwa World Marriott Resort and Jeju Shinhwa World Landing Resort, a convention center, a dedicated area for K-pop fans, a theme par, and a retail area.
A G-Dragon café is expected to have its ribbon cut next month. Previously released images of the café showed that its building would be shaped as an overlap of the letters G and D. The earlier stages of Phase Two of the integrated resort project will also include the launch of the AC.III.T Bowling & Pub. Exact dates for the opening of the two facilities are yet to be announced.