SUMMARY
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South Korea has rejected the bid of Japanese billionaire Kazuo Okada’s Universal Entertainment for preliminary casino licenses in a surprise move that could delay plans to put Incheon in the Asian gambling map. Citing the spokesperson of South Korea’s Ministry of Culture, Sports and Tourism, Reuters reported that both the requests for casino licenses of Universal Entertainment and the consortium of Caesars Entertainment Corp and Lippo Limited were rejected. No reason was given for the decision. Tiger Resorts Leisure and Entertainment Inc, a unit of Okada-led Universal, has been granted a right to operate a $2-billion integrated casino-entertainment resort — and is being investigated for alleged illegal payments to officials — in Manila. The Philippines, just like South Korea, is vying to be one of the stops for Asian VIP gamblers and high-end tourists through its Pagcor Entertainment City in a sprawling property in Pasay City.
Read more on Rappler.
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