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SEOUL—South Korea has selected a consortium led by a Native American tribe to create a $1.two billion casino resort by 2019, hoping to get a bigger chunk of the Asian gaming marketplace and spur tourism. In spite of those grim numbers, Shinhwa Planet demonstrates the financial appeal of integrated resorts. Jeju’s biggest convention center with accommodations is on-internet site, plus there are condos and villas for sale that qualify buyers for Jeju residency. Investors may possibly have banked on South Korea easing its restriction on Korean play, or at least modified it with a Singapore style entry tax along with frequency restrictions currently in force at Kangwon. Without having that transform, added US$1 billion IRs didn’t make sense to most prospective bidders. For Bloomberry, which has become a industry leader in Manila when reporting five consecutive quarters of losses, promoting Jeju is a way back toward the black.

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