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S. Korea casinos also optimistic about Japan's IR outlook

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2024년 안전한 바카라사이트 – 에볼루션 바카라 사이트 TOP15.

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Several people involved in those investments told GGRAsia that the possibility that the first wave of Japanese casino resorts could begin in the mid-2020s should not compromise the prospects of large gaming resorts in neighboring South Korea. Data from the Japanese operator shows that Japan is a significant contributor to its customers, mainly foreign-only casinos.

Japan will allow locals to use the integrated resort or casino resort, a place known as "IR," although the government has promised to impose admission fees and monthly visit restrictions on locals.

In contrast, Korea only allows locals to gamble at Kangwon Land, a remote highland resort a few hours away from the capital Seoul. Many investment analysts pointed to the fact that the new large-scale Korean resort cannot offer gambling to locals as a factor limiting their income.

But Christopher Jones of Mohegan Gaming and Entertainment told GGRAsia that the prospects for such resorts remain strong, with so many potential foreign players close to South Korea.

"There are over 700 million people and some of the biggest cities in the world, all within three hours of both Korea and Japan. So from a market perspective and overall proximity and convenience, we believe there is sufficient demand to support the development of integrated resorts in Korea and Japan," said Jones, vice president of corporate finance at Mohegan Gaming.

U.S.-based tribal casino operator Mohegan Gaming and Korean casino operator Paradise Co Ltd are each investing in and developing casino resort projects in Incheon, close to the main international airport serving the capital, Seoul. 바카라사이트 추천

The $1.6 billion Incheon Mohegan Sun Casino Resort Project Inspire Entertainment Resort will open in the final quarter of 2021. A total of $5 billion in capital investment commitments have been mentioned over several stages over the course of two decades.

In another initiative, Jeju Dream Tower, a resort with foreigner-only casinos, aims to complete the construction of the high-rise building by the end of this year.

Regional competition for Korea's new resorts is happening beyond Japan. A May report by brokerage Union Gaming Securities Asia Ltd said Asia's current economic growth rate does not justify its already allocation of two-thirds of the money for existing gaming jurisdictions and $65 billion, the balance for Japan's initial market.
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