Paradise steals a march on rivals as South Korea mulls casino policy

    Published in: Latest IntelligenceSouth Korea’s government, under President Park Geun-Hye, may be warming to the idea of integrated resorts in the country, despite reversing proposals put forward by the previous administration on foreigners’ only casinosPlanned moves to open up markets in neighbouring countries have generated a flurry of excitement and investment pledges, while capturing the attention of policymakers in S. Korea.Japan’s coalition government is considering a bill to allow casinos, which could lead to the creation of the world’s second-biggest gaming market, with some $8 billion to $10 billion in gross gaming revenue in the first year, according to Morgan Stanley estimates. Meanwhile, Hong Kong-listed Galaxy Entertainment has said it would be prepared to invest as much as $5 billion in Japan and Taiwan if legislation gets the green light.The same operators expressing interest in Japan — Sands, MGM, Wynn, Melco Crown — have also made the pilgrimage to...

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