• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 30 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

New Silkroad yet to start Jeju integrated resort development on financing delays

Newsdesk by Newsdesk
Wed 1 Apr 2020 at 04:43
New Silkroad yet to start Jeju integrated resort development on financing delays
32
SHARES
600
VIEWS
Print Friendly, PDF & Email

More than a year since gaining development approval to proceed with a substantial integrated resort development on the South Korean holiday island of Jeju, gaming and entertainment investor New Silkroad Culturaltainment Ltd says it has not yet broken ground on the project due to financing issues.

The company first revealed in 2016 its plans for the development, known as the Glorious Hill Project, which it described as “one of the largest integrated resort complexes in South Korea.”

The project is set to include an integrated entertainment complex as well as numerous five-star hotels, commercial and residential properties, healthcare facilities, a theme park and golf courses.

However, providing an update as part of its FY19 results release, New Silkroad revealed that, “Although the relevant hotel development approval has been obtained, the land development of Glorious Hill in South Korea has not commenced due to a delay in project financing.”

New Silkroad, which saw revenue from continuing operations fall 7.3% year-on-year to HK$211.2 million, also noted that its MegaLuck casino at Jeju’s KAL Hotel continues to face challenging times via reduced tourism to the island in 2019 and, more recently, the global outbreak of COVID-19. Casino operations are currently suspended in line with the government’s epidemic prevention measures.

MegaLuck Casino saw its revenue fall 20.2% to HK$82.6 million in 2019, representing 39.1% of group-wide revenue compared with a 45.5% contribution in 2018.

Loss attributable to owners of the company widened from HK$37.9 million in 2018 to HK$80.4 million.

RelatedPosts

We’re Back!

South Korea’s new 15-day visa-free policy for Chinese visitors officially launches

Tue 30 Sep 2025 at 06:22
IEC issues profit warning on widened losses through December 2021

IEC falls to US$36 million loss in FY25 but 200% increase in gaming revenues suggests bright future for Manila IR project

Sat 27 Sep 2025 at 11:56
Days after satellite casino Grand Dragon ceases operations, Melco completes closure of first Mocha slot club Kuong Fat

Days after satellite casino Grand Dragon ceases operations, Melco completes closure of first Mocha slot club Kuong Fat

Thu 25 Sep 2025 at 16:24
Asia market roundup

INSPIRE targets Chinese market with launch of new WeChat Mini Program

Wed 24 Sep 2025 at 09:59
Load More
Tags: casinoGlorious Hill Projectintegrated resortMegaLuckNew Silkroad CulturaltainmentrevenueSouth Korea
Share18Share2
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Is PAGCOR addicted to online gambling?

Editorial – Is PAGCOR addicted to online gambling?

by Ben Blaschke
Tue 30 Sep 2025 at 19:13

It was with an undoubted sense of pride that Philippine gaming regulator PAGCOR announced in August that licensed electronic games...

Fighting back

Fighting back

by Ben Blaschke
Tue 30 Sep 2025 at 18:58

Asia’s foreigner-only casinos, specifically those located in South Korea and Vietnam, were born with a natural disadvantage – one that...

Promo costs: Market share or margin?

Promo costs: Market share or margin?

by David Bonnet
Tue 30 Sep 2025 at 18:11

Former Macau gaming executive David Bonnet takes a closer look at promo delivery across the Asian gaming industry and the...

IAG EXPO 2025: A show like no other

IAG EXPO 2025: A show like no other

by Ben Blaschke
Tue 30 Sep 2025 at 17:22

Inside Asian Gaming takes a look back at IAG EXPO, which continued the tradition of excellence established in recent years...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

Rising tide

Former Okada Manila chief Byron Yip joins Sands China as Executive Vice President – Strategy

by Ben Blaschke
Tue 30 Sep 2025 at 11:27

Byron Yip, the former President and COO of Philippines integrated resort Okada Manila, will join Macau concessionaire Sands China Ltd (SCL) as Executive Vice President – Strategy, Inside Asian Gaming has learned. In an internal memo seen by IAG, staff...

PAGCOR funds National Bureau of Investigation in fight against illegal gambling

PAGCOR funds National Bureau of Investigation in fight against illegal gambling

by Newsdesk
Tue 30 Sep 2025 at 06:32

Philippine gaming regulator PAGCOR said Monday it has committed Php50 million (US$860,000) to the National Bureau of Investigation (NBI) to help strengthen its operations against illegal gaming, including banned POGOs. In a statement, PAGCOR revealed that it signed a Memorandum...

We’re Back!

South Korea’s new 15-day visa-free policy for Chinese visitors officially launches

by Newsdesk
Tue 30 Sep 2025 at 06:22

South Korea officially launched on Monday its latest visa-free policy for Chinese tour groups in a further move aimed at boosting the country’s tourism sector. First announced in March, the policy is part of a pilot program that will run...

Almost 400,000 visitors enter Macau during three-day New Year’s holiday

Macau’s Public Security Police Force anticipating 1.2 million visitor arrivals during Golden Week holiday

by Pierce Chan
Mon 29 Sep 2025 at 23:24

Macau’s Public Security Police Force expects to see over 1.2 million visitors arrive during this year’s eight-day National Day Golden Week holiday. The National Day holiday will this year be combined with the Mid-Autumn Festival, resulting in a total of...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English
  • 日本語