'Problem size?' Jeju casino enlargement 'hot issue'submitted by roserosepasta to u/roserosepasta [link] [comments]
Large-scale and complex resorts have become a hot issue in the Jeju casino industry centered on small businesses.
According to Jeju Island on the 12th, there are 8 casinos for foreigners in Tokyo, half of which is 16 in Jeju.
Jeju foreign casino sales climbed to W11.7bn in 2011, W143.8bn in 2012, W216.9bn in 2013, and W2248bn in 2014, and declined to W29.5bn in 2015, W1760bn in 2016, and W177.7bn in 2017.
The MERS outbreak in 2015 and Sadd's deployment in 2017 were the main reasons behind the decline in sales.
Then, the casino industry in Tokyo, which suffered a deficit in 2018, was shaken.
Landing Casino, a Chinese-based capital, Ramjeong Jeju Development Co., Ltd., relocated the casino at the Hyatt Hotel in Jungmun, Seogwipo, to the complex resort Shinhwa World, expanding the area seven times from 803㎡ to 5581㎡.
Since the opening of the Landing Casino, casino sales in Tokyo jumped to W511.2bn last year. The industry estimates that Landing Casino recorded sales of KRW 370 billion in the first half of last year alone.
The annual number of casino visitors in Tokyo, which was 200,000, rose to 370,000 last year.
Jeju Tourism Promotion Fund, which collects some casino sales, also rose to W47.9bn, well above last year's W13.4bn.
◇ "Composite resort is big"… Downtown Casino Concerns
The casino enlargement issue is expected to heat up ahead of the opening of the Dream Tower Complex Resort, a high-rise building (5 stories below ground and 38 stories above ground) that Lotte Tourism Development is building in Nohyeong-dong, Jeju.
Casino experts say that not only casinos, but also complex resorts for accommodation, food, drinks, conventions, and shopping can be found worldwide.
Kim Sang-hyuk, professor of tourism management at Gachon University, presented the successful cases of Macau and Singapore at the 2019 Jeju International Casino Policy Forum at the Ramada Hotel in Jeju City. Is shifting from negative perceptions such as gambling to tourism and leisure, including travel and luxury hotels. ”
Lotte Tourism Development acquired Paradise Jeju, which was operated by Lotte Hotel in July last year, for 15 billion won.
Lotte Tourism Development plans to move the casino here once the Dream Tower is completed. In addition to relocating the site, the area will be increased by four times (1200㎡ → 4800㎡).
Dream Tower, which is scheduled to be completed next month and to be completed by March 2020, is expected to begin administrative procedures for casino relocation early next year.
Unlike Shinhwa World Casino, which was the outskirts, Dream Tower Casino is located in Nohyeong-dong, the downtown of Jeju. There are many residential areas as well as primary and secondary schools. This is why mixed eyes are coming out.
At the time of the landing casino, it was virtually a new license, and it was the first large casino in the province.
Recently, opinions were divided within the council, with the proposal of a partial revision of the Ordinance on Jeju Island Casino Business Management and Supervision, which blocks casinos from becoming larger.
However, the agenda is in the process of disposal.
◇ The success of the mixed resort Singapore
The casino policy of Singapore, one of the success cases of the casino complex resort, has many implications for Jeju, which is facing the era of large-scale expansion.
According to a report by the Metropolitan Council for Culture, Sports, and Sports in August, the Singapore government decided to invest 7.6 trillion won in the expansion of two complex resorts this year.
Singapore's additional investment has nothing to do with accelerating competition, such as promoting complex resorts in other Asian countries such as Japan.
It is pointed out that if Jeju is to enlarge casinos, it must clearly set its own competitiveness and policy direction.
Singapore recognizes the business feasibility of the complex resort, and promotes the supervision system, prevention of side effects, and welfare of residents.
For example, casino entry fees and taxes are increased, as well as the proceeds from the admission fees, which are used for public interest activities including the prevention and healing of gambling.
Unlike Jeju, which allowed taxi casino full-page ads, Singapore also bans external advertising.
In terms of tax revenue, Singapore's tax rate is 22% in Singapore and 9.54% in Korea.
Singapore collects only W15.5bn in annual casino permit fees, but not Jeju. 10% tourism promotion fund and corporate tax.
In addition to the Casino Regulatory Authority, which also acts as Singapore's casino supervisor, it has set up a separate administrative agency in charge of welfare and medical services to increase casino tax revenues and reform the healthcare system.
The necessity of strengthening the management system such as the casino supervisory board was also raised.
Jeju Casino's Casino Policy Division has a total of 16 people and the Casino Supervisory Board has a total of 9 people. The Supervisory Commission points out that the level of advisory authority of the Governor is related to casino policy, and thus, the need for status and empowerment is required.
The Singapore Casino Regulatory Commission consists of 170 employees and 15 board members. In addition to monitoring and researching casino operations, he also has the authority to audit audits, criminal investigations and various records related to casinos.
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