South Korea opens its market to foreign casino operators

Taking the success of the casinos of Macao as an example, South Korea now wants to compete with the former Portuguese colony.
On the 18th of March, the Korean government decided to open the market to foreign gambling operators.
They also accepted that a huge casino will be built with a budget of 500 million euros, which will be exclusive to foreigners.
The casino will be built as a joint venture of Caesars Entertainment and Lippo, and it is scheduled to open in 2018.
The leisure complex will include a gambling hall, a convention centre, hotels, and shopping malls.
This new casino will be built near the Incheon International Airport, which welcomes over 35 million travellers every year.
The airports location is about 40 km west of the capital Seoul.
There are currently 17 casinos in South Korea, and only one of them is open to citizens of the country: the Kangwon Land Resort in the north east of the country.
In the year 2013, all establishments that were reserved for foreigners attracted over 2.7 million tourists, and generated about 920 million euros in revenue.