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 Las Vegas Sands Interested in Constructing Casino Complex in Korea
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A leading American developer of casinos, the Las Vegas Sands Corp., owner of the prestigious Las Vegas-based Venetian hotel casino, recently announced that it had held discussions with South Jeolla Province authorities regarding the potential construction of a large casino complex in southwestern Korea.
Thanks to a law passed in 2003, foreign investors having funneled at least $500 million into Korean tourism in specific locales may operate casinos in South Korea.
Chairman of the Corporation, Sheldon Adelson, reportedly said that he met with South Jeolla's Vice Governor, Lee Kun-Kyong, so as to discuss the realization of the province’s “J-project," a plan to set up a multi-kilometer vacation town on the coast of Haenam and Youngam. The plan also involves the possible construction of the aforementioned casino resort.
The future Las Vegas style hotel-casino resort is expected to produce great revenues and encourage millions of Chinese and Japanese tourists to visit Korea and enjoy the facility.
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Source: Big OC News Staff
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Tuesday, 28 June 2005
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