Genting Singapore delays Jeju casino ground-breaking

SINGAPORE – Plans by Genting Singapore to develop a casino in South Korea’s Jeju Island have hit a road bump.

Just days before a planned ground-breaking event on June 24, the company has decided to reschedule the ceremony.

The company had already sent out invitations for guests and the media to attend the ground-breaking ceremony.

In a statement on Thursday, Genting Singapore said the rescheduling is to allow the company the opportunity to brief the newly-elected governor of Jeju and his team on the casino’s development plans and its contribution to Jeju Island.

In a separate email to inform guests of the change in schedule, the company said Resorts World Jeju is expected to break ground in the third quarter of 2014 and scheduled to open progressively from 2017.

Genting Singapore first announced in February that it was teaming up with Hong Kong-listed Chinese property firm Landing International Development to develop a casino resort on Jeju Island.

The S$2.5 billion gaming facility on the Korean island is aimed at targeting Chinese bettors.

It is expected to have 800 gaming tables, including 200 to cater to the high rollers.

The resort will be built on a 2.3-million-square-metre site that includes a theme park, a shopping mall, villas and apartments as well as three hotels that will have 2,800 rooms.

Genting Singapore operates Resorts World Sentosa.

Malaysia-based Genting Berhad, controlled by Malaysian billionaire Lim Kok Thay, is the biggest shareholder in Genting Singapore. Channel NewsAsia