{"id":26170,"date":"2022-01-12T07:45:04","date_gmt":"2022-01-12T10:45:04","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=26170"},"modified":"2026-04-23T12:21:42","modified_gmt":"2026-04-23T15:21:42","slug":"jejus-kal-hotel-property-that-hosts-megaluck-casino-to-be-sold","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/jejus-kal-hotel-property-that-hosts-megaluck-casino-to-be-sold","title":{"rendered":"Jeju\u2019s KAL Hotel property that hosts MegaLuck Casino to be sold"},"content":{"rendered":"\n

Jeju\u2019s KAL Hotel property will be sold, according to the hotel\u2019s management, “to overcome its financial difficulties”.<\/p>\n\n\n\n\n\n\n\n

South Korea.- KAL Hotel Network Ltd (KHN) has revealed through a letter sent to the Jeju Tourism Service Labour Union\u2019s KAL Hotel branch that it will sell its Jeju KAL Hotel.<\/p>\n\n\n\n

The measure was taken “to overcome its financial difficulties”. However, it is still unknown what will happen to the\u00a0MegaLuck Casino\u00a0<\/strong>that is located inside the complex.<\/p>\n\n\n\n

A union representative told GGRAsia that the lease contract between MegaLuck and Jeju KAL Hotel is renewable annually, with six months\u2019 prior notice required for termination.\u00a0<\/p>\n\n\n\n

Last year, the casino company New Silkroad Culturaltainment<\/strong> that operates the MegaLuck casino reported zero revenue for the first half of the year<\/a> due to the lack of tourism and the temporary closure of its venue amid Covid-19 countermeasures.<\/p>\n\n\n\n

According to data from the Jeju Island Tourism Association<\/a>, the number of tourists visiting Jeju in 2021 exceeded 12 million<\/strong>. However, 99.6 per cent of tourists came from the country.<\/p>\n\n\n\n

Authorities pointed out that the total number is still down by about 20 per cent when compared to pre-pandemic levels<\/strong>. In 2019, 15.3 million tourists visited Jeju Island.<\/p>\n\n\n\n

As MegaLuck is a foreigner-only casino<\/strong>, it was heavily affected by the Covid-19 countermeasures throughout 2020 and 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

Jeju\u2019s KAL Hotel property will be sold, according to the hotel\u2019s management, “to overcome its financial difficulties”.<\/p>\n","protected":false},"author":176,"featured_media":16275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"KAL Hotel Network Ltd (KHN) is divesting its Jeju KAL Hotel due to financial distress, creating uncertainty for the MegaLuck Casino operating within the property. The foreigner-only casino, severely impacted by COVID-19 travel restrictions, faces potential lease termination as international tourism to Jeju Island remains significantly below pre-pandemic levels.","focusai_entities":"KAL Hotel Network Ltd (KHN), Jeju Tourism Service Labour Union, MegaLuck Casino, New Silkroad Culturaltainment, Jeju Island Tourism Association","focusai_location":"South Korea, Jeju, Jeju Island","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"MegaLuck Casino Future?","query":"What are the specific contractual obligations and potential termination clauses governing MegaLuck Casino's lease within the Jeju KAL Hotel, and what is the projected timeline for a resolution regarding its operational continuity under new ownership?"},{"label":"Jeju Tourism Recovery?","query":"How do current international tourism projections for Jeju Island impact the GGR outlook for foreigner-only casinos, and what specific government or industry initiatives are being considered to accelerate the return of high-value international patrons?"}],"footnotes":""},"categories":[157,16338],"tags":[],"class_list":["post-26170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26170","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=26170"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26170\/revisions"}],"predecessor-version":[{"id":26185,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26170\/revisions\/26185"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16275"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=26170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=26170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=26170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}