South Korea: Jeju Dream Tower passes impact check

Jeju Dream Tower has passed the Casino Impact Study Assessment required for any project that wants to expand.

South Korea.- The Jeju Dream Tower, a foreigner-only casino in Jeju City, has passed an evaluation regarding the social impact it will have on the community.

The evaluation, called the Casino Impact Study Assessment, awarded Jeju Dream Tower 1,000 points – above the 800 points necessary to be approved.

The assessment evaluated as positive Jeju Dream Tower’s impact on the local tourism sector, on employment and on tax revenue generation.

The firm that promotes the project, Lotte Tour Development Co Ltd, plans to relocate its current casino licence from Jeju Lotte Hotel to Jeju Dream Tower. This plan involves an expansion of the casino area from 1,175 square metres (12,648 sq. feet) – featuring five table games and 51 gaming machines – to 5,367 sq. metres, with 10 table games and 302 machines.

Jeju’s Casino Policy Division said a social impact evaluation is legally required in cases where an existing Jeju casino operator wishes to expand its gaming operations capacity by more than two times.

However, this qualification does not mean the relocation of the casino to Jeju Dream Tower has been approved. That will require legislative approval with the final decision resting in the governor’s hands.

According to information by Lotte Tour, construction is “99.9 per cent” complete.