Grand Korea Leisure says no concrete Seoul casino plan
The Korea Economic Daily had reported that the company was considering a casino resort project in Seoul.
South Korea.- Grand Korea Leisure (GKL) has said that it has made no firm decision to pursue a casino in Seoul. The Korea Economic Daily had reported yesterday that the company was considering a resort project in the capital.
The newspaper reported that, after more than 20 years of operating foreigner-only casinos on leased hotel properties, GKL was considering a major strategic shift with plans for a flagship integrated report at a site of its own in central Seoul. The report quoted GKL president Yoon Doo-hyun saying that rising competition in South Korea’s foreigner-only casino market had highlighted the limitations of the company’s existing business model.
GKL confirmed that it is preparing a preliminary feasibility study application with the Ministry of Economy and Finance regarding a prospective business site but that no specific plans have been finalised. The firm added that it would provide an updated statement “either when particular details are concluded or within one month.”
