One of the developers of the Dream Tower recently took over the Paradise Casino in the Jungmun Lotte Hotel. Some speculate that Lotte Tour Development ultimately plans to expand the casino and move it to the Dream Tower. Mike Laidman reports.

Landing International opened its own casino at Jeju (신화) Shinhwa World earlier this year, in February.

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Landing Casino opened in February

As Jeju’s regulations on licensing new casinos are so tight, the developer bought the casino in the Hyatt Regency Jeju and relocated it to Jeju Shinhwa World. It was then expanded by 700%, sparking controversy on the island.

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Sales exceed all other island casinos combined

Currently, there are eight casinos in Jeju.

Sales at the Landing Casino exceeded the combined sales of the other seven casinos over six months.

And now, another attempt by a company to expand its local casino presence has been noted.

The developer of the Dream Tower in (노형) Nohyeong-dong, (롯데) Lotte Tour Development, has recently taken over the Paradise Casino in the Lotte Hotel Jeju.

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Lotte Tour Development buys Paradise Casino

The island is paying attention to the buyout.


A 4,800 square meter casino is already planned for the Dream Tower buildings.

Some speculate that the buyout could be an attempt to expand the casino by four times after relocating it into the Dream Tower.


The province established regulations to carefully review applications for modified casino licenses early this year.


According to the regulations, casino owners who want to relocate and expand their businesses by two or more times must get input from the provincial council and, if necessary, the governor is able to veto the modification applications.


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Province drafting detailed criteria for modified licenses

The province is now drafting detailed regulations to examine modifications for licenses.

Recording
Oh Yeong-rim / Jeju provincial casino industry office
We will develop criteria to judge the impact of casino relocations. We will consider the residential, educational, and environmental rights of residents, as well as general public interest.
<씽크:오영림/제주특별자치도 카지노 산업 담당>
"주거권이나 학습권, 환경권, 공익권 등이 (용역에) 들어가는데 카지노업 이전이나 신규 허가시 지역사회에 미치는 영향을 다양하게 판단할 수 있는 지표들을 개발하게 됩니다."


Meanwhile, Lotte Tour Development says that it has recently bought a local casino, but that the relocation of said business is not being reviewed.


[Reporter] Mike Laidman
[Camera] Ko Moon-su

The province is planning to complete its detailed regulations on modifying licensing applications by early 2019.

Jeju Island is now paying close attention to Lotte Tour Development’s future moves.

Mike Laidman, KCTV