{"id":14901,"date":"2021-02-18T15:31:52","date_gmt":"2021-02-18T15:31:52","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=14901"},"modified":"2026-04-23T21:42:12","modified_gmt":"2026-04-24T00:42:12","slug":"caesars-reported-to-have-dropped-south-korean-ir-project","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/caesars-reported-to-have-dropped-south-korean-ir-project","title":{"rendered":"Caesars reported to have dropped South Korean IR project"},"content":{"rendered":"\n<p>The company is reported to have withdrawn from the IR project in Incheon, to focus on the domestic US market.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>South Korea.- After a lot of back and forth, it appears US-based Caesars Entertainment has decided to give up on its plans to develop an integrated resort in <strong>South Korea<\/strong>.<\/p>\n\n\n\n<p>Local media has reported that the company has taken the decision to <strong>quit the Midan City Complex<\/strong> project in Yeongjong-do.<\/p>\n\n\n\n<p>Last month, the company received an ultimatum from South Korean authorities, who warned they <em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/caesarss-south-korean-casino-at-risk\" target=\"_blank\"><strong>would cancel the permit for the casino development<\/strong><\/a><\/em> if the operator did not come up with a solid investment plan in the next two months.<\/p>\n\n\n\n<p>The<strong> project has been plagued with difficulties<\/strong> from the beginning. The company was unable to fulfil plans to complete the development by March 2018 due to funding problems and construction delays.<\/p>\n\n\n\n<p>According to local media reports,<strong> only 25 per cent of the construction was completed<\/strong>.<\/p>\n\n\n\n<p><strong>China\u2019s Puri Group<\/strong>, Caesars Entertainment partner, could now go it alone on the project.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company is reported to have withdrawn from the IR project in Incheon, to focus on the domestic US market.<\/p>\n","protected":false},"author":176,"featured_media":14907,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Caesars Entertainment has reportedly withdrawn from the Midan City Complex integrated resort project in Incheon, South Korea, citing a strategic pivot to the domestic US market. The project, a partnership with China's Puri Group, faced significant funding and construction delays, leading to an ultimatum from South Korean authorities regarding its development permit.","focusai_entities":"Caesars Entertainment, Puri Group","focusai_location":"South Korea, Incheon, Yeongjong-do, US, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.8), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Caesars Financial Impact","query":"What are the specific financial implications for Caesars Entertainment regarding this withdrawal, including any potential write-downs or penalties related to the South Korean project?"},{"label":"Puri Group's Next Steps","query":"How will South Korean authorities proceed with the Midan City Complex permit, and what are the prospects for Puri Group to secure alternative financing and continue the development independently?"}],"footnotes":""},"categories":[28,16338,158],"tags":[23795,23632],"class_list":["post-14901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","category-slider-home","tag-caesars-entertainment","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=14901"}],"version-history":[{"count":9,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14901\/revisions"}],"predecessor-version":[{"id":14941,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14901\/revisions\/14941"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/14907"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=14901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=14901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=14901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}