Japan Rolls the Dice
by Muhammad Cohen
When Genting Group Executive Chairman and CEO Lim Kok Thay said in November that Genting Singapore was pulling out of its US$1.8 billion integrated resort project in Jeju, South Korea, to focus on casino development in Japan, many snickered. Over the past 18 months, Korea has gone from hot to not in gaming circles as it became clear the new IRs would not be open to locals, so it wasn’t surprising that Genting would abandon an expensive project with limited prospective returns.
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