R&F requests further deadline extension for South Korea Midan City complex
The company plans to scale down the scope of the scheme and has been negotiating to sell a plot that had been earmarked for a second phase.
South Korea.- R&F Korea (RFKR) has asked for permission to delay the opening of its integrated resort in Midan City by 12 months. The RFKR Resort, which will have a foreigner-only casino, was due to open on March 17 this year having already been put back from 2021 and then March 2022.
According to GGRAsia, the company wants to scale down the scope of the project and has been negotiating to sell a 50,805-square-metre plot that had been earmarked for a second phase of the complex. RFKR has already sold an 89,385-square-metre plot that had been planned to house a third phase to raise money for the project.
This is the fourth modification to the launch schedule since 2018. Caesars Entertainment dropped out of project in early 2021. A representative of R&F Korea told GGRAsia that the firm would outline its progress to South Korea’s Ministry of Culture, Sports, and Tourism and explain the conditions for a further timetable extension.
The last extension was granted with the condition of finding a new gaming operator partner, resuming construction of the first phase, and clarifying the financial situation.