Jeju wants to ban the transfer of gambling licenses

19 September 2018

The government of South Korea's Jeju Island plans to ban the transfer of casino licenses to property owners. This was reported by the governor of the autonomous province of Jeju Won Hy-Ryong.

"We must approve a system that clearly defines the casino zone, so that such institutions won't become an island of gambling," - he stressed.

If such legislation is adopted, existing and future casino projects may suffer. In particular, we are talking about Jeju Dream Tower, the developer of which is Lotte Tour Development Co Ltd. Upon completion of the construction, the company plans to purchase the entire capital of Paradise Jeju Lotte Casino and transfer its gaming license to a casino for foreigners.

"We are considering this option, but at this stage we have not yet made a final decision," - in August, the executive vice president and chief operating officer of Lotte Tour, Lawrence Theo, told the press.

At the same time, the South Korean mint struggles with fraud in the casinos. To this end, innovative technologies will be introduced into the work of gambling establishments.

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