Jeju Dream Tower has passed the Casino Impact Study Assessment required for any project that wants to expand.<\/p>\n\n\n\n\n\n\n\n
South Korea.- The Jeju Dream Tower, a foreigner-only casino in Jeju City, has passed an evaluation regarding the\u00a0social impact it will have on the community.<\/p>\n\n\n\n
The evaluation, called the Casino Impact Study Assessment, awarded Jeju Dream Tower 1,000 points \u2013 above the 800 points necessary to be approved.<\/p>\n\n\n\n
The assessment evaluated as positive Jeju Dream Tower\u2019s impact on the local tourism sector, on employment and on tax revenue generation. <\/p>\n\n\n\n
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) \u2013 featuring five table games and 51 gaming machines \u2013 to 5,367 sq. metres, with 10 table games and 302 machines.<\/p>\n\n\n\n
Jeju\u2019s 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.<\/p>\n\n\n\n
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. <\/p>\n\n\n\n
According to information by\u00a0Lotte Tour, construction is \u201c99.9 per cent\u201d complete.<\/p>\n","protected":false},"excerpt":{"rendered":"
Jeju Dream Tower has passed the Casino Impact Study Assessment required for any project that wants to expand.<\/p>\n","protected":false},"author":2,"featured_media":9031,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Jeju Dream Tower has successfully passed the Casino Impact Study Assessment, a crucial regulatory step for its planned casino expansion and relocation from Jeju Lotte Hotel. This assessment, which evaluated positive impacts on tourism, employment, and tax revenue, is a prerequisite for legislative and gubernatorial approval of the significant increase in gaming capacity.","focusai_entities":"Jeju Dream Tower, Lotte Tour Development Co Ltd, Jeju Lotte Hotel, Jeju's Casino Policy Division","focusai_location":"South Korea, Jeju City, Jeju","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Regulatory Approval Timeline?","query":"What is the projected timeline for securing the final legislative and gubernatorial approvals for the Jeju Dream Tower casino relocation and expansion, and what are the remaining critical hurdles?"},{"label":"GGR Impact Analysis?","query":"What is the estimated incremental Gross Gaming Revenue (GGR) potential for Lotte Tour Development Co Ltd following the proposed expansion of gaming verticals and capacity at Jeju Dream Tower?"}],"footnotes":""},"categories":[160,28,16338,158],"tags":[29,152],"class_list":["post-9028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-east-asia-news","category-slider-home","tag-casino","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9028","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=9028"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9028\/revisions"}],"predecessor-version":[{"id":9037,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9028\/revisions\/9037"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9031"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}