R&F Properties\u2019 deadline to open the first phase of the Midan City complex has been extended by another 12 months.<\/p>\n\n\n\n\n\n\n\n
South Korea.- R&F Korea (RFKR) <\/strong>has been granted a fourth extension on the deadline for its integrated resort in Midan City<\/strong>. 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.<\/p>\n\n\n\n The company has confirmed the latest extension to GGRAsia. The resort, which will have a foreigner-only casino<\/strong>, has been under construction since 2016. According to the Incheon Free Economic Zone Authority, about 25 per cent of the resort has been built<\/strong>, although construction has been suspended since 2020.<\/p>\n\n\n\n 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.<\/p>\n\n\n\n The previous deadline was March 17, 2023<\/a>, 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<\/a>. However, the US casino operator dropped its interest in the project in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":" R&F Properties\u2019 deadline to open the first phase of the Midan City complex has been extended by another 12 months.<\/p>\n","protected":false},"author":176,"featured_media":8212,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"R&F Korea has received a fourth 12-month extension, pushing the Midan City integrated resort's Phase One opening deadline to March 17, 2024. Construction, suspended since 2020 with only 25% complete, faces conditions including securing a gaming operator partner and external investment. This project, initially slated for 2018 and previously associated with Caesars Entertainment, continues to experience significant development delays.","focusai_entities":"R&F Properties, R&F Korea (RFKR), Caesars Entertainment, Incheon Free Economic Zone Authority, GGRAsia","focusai_location":"South Korea, Incheon, Midan City","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.8), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IR Project Viability?","query":"Given the repeated delays, suspended construction, and withdrawal of Caesars Entertainment, what specific governance frameworks or financial guarantees are in place to ensure the Midan City IR project's eventual completion and operational viability?"},{"label":"Regulatory Oversight Impact?","query":"How does the Incheon Free Economic Zone Authority's repeated granting of extensions, despite unfulfilled conditions, reflect on the efficacy of South Korea's regulatory compliance and licensing enforcement for major gaming developments?"}],"footnotes":""},"categories":[157,16338],"tags":[],"class_list":["post-777004399","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\/777004399","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=777004399"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777004399\/revisions"}],"predecessor-version":[{"id":777004433,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777004399\/revisions\/777004433"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8212"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777004399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777004399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777004399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}