Leveranciersnieuws
Zuid-Korea ā Chow Tai Fook wil 2.6 miljard dollar uitgeven aan het Incheon-casino
By Phil - 25 februari 2015Hong Kongās Chow Tai Fook Enterprises, a subsidiary of Chow Tai Fook Jewellery Group, has confirmed it wants to invest US$2.6bn to construct a casino resort near South Koreaās largest airport.
The resort casinoās location will be close to where two other huge casinos will be built, one by Caesars Entertainment and Lippo and one by Paradise and Sega Sammy. Last month, Bloomberry Resorts, a Philippine operator, confirmed it wanted to build a casino and entertainment complex in Incheon
Chow Tai Fook will need to seek a licence and be approved by the central government, although analysts believe this will happen later this year. Its planned project is for a foreigner-only casino, including hotel, retail, entertainment and convention facilities. It would be built in two stages between 2015 and 2019 and 2019 and 2022.
Guotai Junan Securitiesā International VP Yong Guo said: āThe development of the gaming industry in Korea will have a direct effect on Chow Tai Fookās jewellery sales. Korea definitely canāt match Macau in terms of the numbers of Chinese visitors. Even Singaporeās burgeoning casinos havenāt started turning profit yet, so Koreaās gaming industry is unlikely to be on par with Macau.ā
He expects that Chow Tai Fook will include jewellery stores at a large-scale integrated entertainment district.
In June last year Chow Tai Fook signed a Memorandum of Understanding with Australian casino operator Echo Entertainment and Far East Consortium to develop an entertainment precinct and integrated resort at the Queenās Wharf Brisbane site.
Paradise, South Koreaās largest casino operator, said around 63.4 per cent of its revenue was generated by Chinese VIPs.