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The news is another blow to casinos and resort developers in the region hoping to lure VIP clientele from China to assist fill their coffers. A Chinese developer is teaming up with the organization behind 1 of Singapore’s Sentosa casinos to invest US$two.2 billion in a new gambling-centred project in South Korea, the corporations announced this week. SINGAPORE — Genting Group will strengthen its presence beyond Southeast Asian shores, with plans to open casino resorts in Las Vegas and on South Korea’s Jeju Island. It is also reported that RFKR is in negotiations with casino operators in Macau, Singapore and Europe, even though the report does not specify who. The developer had previously called for new partners to invest capital and operate the resort and casino organization in order to help full construction. According to neighborhood media outlet Incheon Nowadays, R&F Korea (RFKR) announced the new deal on Tuesday which will see a JW Marriott hotel take center stage within Midan City after improvement is completed. In 2015, Kangwon Land contributed 615 billion won in tax income and payments to central and nearby government coffers as nicely as a government-run fund to develop the regional economy. That compares with a combined 299 billion won from the 16 casinos that only permit foreigners.
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