South Korea’s state-run operator Grand Korea Leisure says it is not pursuing the development of a self-owned casino resort in Seoul.
South Korea.- Grand Korea Leisure (GKL) has again insisted that it has no plans to develop a casino resort in Seoul. In a filing submitted to the Korea Exchange today (Monday) GKL stated that it is not advancing any initiative to secure its own business site or to build a casino resort in the South Korean capital.
The statement comes after media reports pointed to a potential expansion strategy by the state-run operator. The Korea Economic Daily had claimed that the company was preparing a Seoul-based casino project.
While GKL acknowledged it had prepared documentation related to a potential feasibility study, it said the process was halted before any formal submission. The operator said the necessary conditions to move forward have not been met and that no application has been submitted to the Ministry of Economy and Finance.
The filing marks a clearer rejection of speculation compared to earlier disclosures, in which the company had described the issue as “undetermined”. This time, GKL explicitly stated that it has “currently no plans” to pursue it sown casino development in Seoul.
GKL operates three foreigner-only casinos under the Seven Luck brand, all located at leased properties: two in Seoul: Gangnam COEX and Dragon City, and one in Busan, at Busan Lotte. According to data from the Ministry of Culture, Sports and Tourism, none of the venues is self-owned.
South Korea’s state-run operator Grand Korea Leisure says it is not pursuing the development of a self-owned casino resort in Seoul. South Korea.- Grand Korea Leisure (GKL) has again insisted that it has no plans to develop a casino resort in Seoul. In a filing submitted to the Korea Exchange today (Monday) GKL stated that…
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