R&F receives 4th deadline extension for South Korea Midan City complex
R&F Properties’ deadline to open the first phase of the Midan City complex has been extended by another 12 months.
South Korea.- R&F Korea (RFKR) has been granted a fourth extension on the deadline for its integrated resort in Midan City. The opening deadline for phase one has been pushed back by another 12 months to March 17, 2024. The RFKR Resort, located in the Incheon Free Economic Zone, was originally scheduled to open its first phase in 2018.
The company has confirmed the latest extension to GGRAsia. The resort, which will have a foreigner-only casino, has been under construction since 2016. According to the Incheon Free Economic Zone Authority, about 25 per cent of the resort has been built, although construction has been suspended since 2020.
RFKR was reportedly asked to meet certain conditions, including finding a gaming operator partner and outside investor, as well as resuming construction. However, the company has not disclosed the specific details.
The previous deadline was March 17, 2023, but RFKR requested another extension in January, citing the ongoing effects of the Covid-19 pandemic on the global economy. The company was originally associated with Caesars Entertainment. However, the US casino operator dropped its interest in the project in 2021.
