South Korea greenlights Caesars/ Lippo casino project

    The South Korean government has given preliminary approval to a consortium of Caesars Entertainment Corp, Singapore’s OUE Ltd and Hong Kong-based Lippo Ltd to build a foreigner-only integrated tourism resort. The casino will be located near the country’s main international airport on Yeongjong island and is expected to cost around 2.3 trillion won ($2.2 billion). It will be built in stages and will be ready in time for the 2018 Winter Olympics in Korea, the companies said.