SiGMA

Jeju Dream Tower casino licence hangs by a thread

Posted:: Mar 23, 2021 12:28 Category: Regulatory , Casino , Posted by Maria

The Anti-Corruption Economy Crime Investigation Unit has seized documents in relation to Jeju’s casino as accusations against the company that the official public opinion surveys had been manipulated emerge

On the issue of permitting casino business to Lotte Tour Development Co Ltd’s US$1.42 billion casino resort, Jeju Dream Tower, the Jeju Provincial Council postponed its conclusion and opted instead to investigate accusations brought by a local citizen’s group against the company that the official public opinion surveys had been manipulated.

Jeju Dream Tower – a new resort due to have a foreigner-only casino and located downtown in the capital of the South Korean holiday island of Jeju -  officially opened its doors to the public in December 2020.

Back in August, the local authorities approved Jeju Dream Tower’s “social impact” assessment that analyses the effect the project’s gaming venue would have on the host community.

jeju dream towerThe executives of Lotte Tour Development told the local press that they hoped to have all the necessary permissions to open the casino by March. However, the provincial council has effectively suspended its review of the casino licensing application and has pledged full cooperation with the police authorities while they conduct their investigation.

On March 19, The Jeju Provincial Council’s Culture, Tourism and Sports Committee held a decision on the proposal of opinion in response to the application for permission to change the business location and area of ​​the Lt Casino’ requested by Lotte Tourism Development.

The company has applied to relocate its LT Casino from the Lotte Hotel Jeju in the Jungmun Tourist Complex in Seogwipo City to the Jeju Dream Tower, and the business area will increase by 4.5 times from 1,176 square meters to one of 5,368 square meters.

The decision was held on this day because it was burdensome for the Jeju-do council to make an opinion before the expansion of Dream Tower Casino with the police investigation on the alleged manipulation.

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