Builder of Marina Bay Sands in Singapore, Las Vegas Sands Corp, is willing to invest at least $5 billion US Dollars to build an integrated resort in the port city of Korea, Busan. The Corporation has shown interest to the Busan Metropolitan City Office its intention to build the resort on the Busan North Port urban renewal area. The North Port is well equipped with necessary infrastructure, therefore it is easy to access. The casino operator, however, may be in for some challenges since it wants to let the locals inside the casino doors. South Korea has a total of 17 casino in operation, but Koreans are only allowed to gamble at one location—the Kangwon Land in the upland area of Kangwon province. Existing casinos in Korea are limited to foreigners only. Gambling is off limits to Koreans.
Las Vegas Sands is one of the world’s leading casino and resort developers.
Why Integrated Resort?
The term Integrated Resort(IR) was first invented in Singapore. It’s a resort, which includes gaming facilities(casino), convention facilities, entertainment shows, theme parks, luxury retail and fine dining. It’s also used as a hub for MICE (Meetings, Incentives, Conferences, and Exhibition). Because of it’s massive size, it fosters growth of local small/medium size businesses, increase in job creation, and boost tourism.
Singaporean government decided to build two IRs to boost Singapore’s tourism industry which was facing intense competition with regional cities like Bangkok and Hong Kong. After construction and by 2013, they were the most profitable casinos in the world.
Marina Bay Sands Infinity Pool
Marina Bay Sands