The chairman of Jeju’s Culture, Tourism and Sports Committee has announced that the South Korean island will introduce a five-year renewal system for casino licensing and consider shifting to a Singapore-style market with “two or three” integrated resorts (IRs).
The South Korean holiday destination and regional gaming hub, which hosts half of the nation’s 16 foreigner-only casinos, has moved again to tighten control of the casino sector by bringing an end to perpetual licensing.
Committee chairman Lee Kyung-yong told a meeting of the committee at the Jeju Council on Monday that the current layout of seven small hotel casinos and one IR should be replaced by “two or three” larger operations, akin to Singapore.
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