Korea casino project teetering on edge

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A major integrated resort project in Korea could be on the point of collapse after the developers failed to get another extension to its building deadlines.

Korean newspaper Kyeongin said that the developer of the Incheon Midan City resort (once owned by Caesars Entertainment), R&F Korea, will struggle to gain the extra extension to its development deadline beyond March of next year.

This is because it failed to meet the conditions that were imposed when it was granted the previous extension.

That proviso demanded that the building work should resume in the first half of this year, but the builders have failed to meet that provision and the project is now only 25 per cent completed.

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