South Korea has granted approval to Caesars Entertainment to open a “foreigner-only” casino with Indonesian conglomerate Lippo.
The first phase of the project also includes two hotels and will be built near Incheon airport outside Seoul.
Shares in Lippo surged more than 35% after the preliminary approval was announced.
In total the firms expect to invest 2.3 trillion won ($2.1 billion) in further projects over the next nine years.
South Korea has granted approval to Caesars Entertainment to open a “foreigner-only” casino with Indonesian conglomerate Lippo
South Korea currently has more than 16 “foreigner-only” casinos, meant to appeal primarily to northern Chinese.
Most of them are clustered near Seoul’s airport or on the island of Jeju, which is just over an hour away by plane from northern cities such as Shanghai and Beijing – making them a convenient alternative to Macau.
Last month, Genting Singapore – Southeast Asia’s largest casino operator by market value – announced it would build a casino on Jeju with Chinese development firm Landing International to target northern and eastern Chinese gamblers.
The project, which is expected to cost $2.2 billion, will include a theme park, shopping malls, apartments and hotels as well as the casino.
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Britney Spears’ friends fear that she will not be able to handle a long-term stint in Las Vegas after being dropped by the X Factor and splitting from her fiancé Jason Trawick all in the space of a week.
The star is on the brink of signing a mega $100 million deal with one of the Caesars group properties – after Jason Trawick formally resigned as her conservator.
Britney Spears, 31, confirmed her departure from the X Factor on the same day as her split from Jason Trawick and the source said: “She’s a homebody, she loves her sons and has her daily routine. At this time, she may need to concentrate on her health and happiness – not rebuilding her career.”
Britney Spears and Jason Trawick announced the end of their one-year engagement on Friday and the singer said in a statement: “Jason and I have decided to call off our engagement. I’ll always adore him and we will remain great friends.”
Jason Trawick added: “As this chapter ends for us a new one begins. I love and cherish her and her boys and we will be close forever.”
The couple were so entwined that Jason Trawick accompanied Britney Spears nearly everywhere. Indeed, on the rare occasions she was seen alone it was to go shopping or get coffee near her California home.
Indeed, shy Britney Spears only seen in public six times without ex-fiancé Jason Trawick in the past year.
One source told how Jason Trawick had helped immeasurably in helping Britney Spears to get her life back on track and was a constant by her side during filming on the X Factor, saying: “At auditions, Jason would calmly escort Britney by the hand back and forth to her seat during breaks. He was there for her.”
Britney Spears’ friends fear that she will not be able to handle a long-term stint in Las Vegas after being dropped by the X Factor and splitting from her fiancé Jason Trawick all in the space of a week
Painting a picture of a rather nervous woman, another source recalled being at an industry party at Soho House in Los Angeles in September where Britney Spears was a guest, saying: “Britney stood in a corner and hid.
“She didn’t speak to anyone – you wouldn’t even have realized she was there. She’s a shy, shy girl.”
Britney Spears and Jason Trawick had been staying at the W Hotel in Hollywood during the X Factor filming, but a friend told how they had their own rooms as they had become “just friends”.
Britney Spears is now believed to be back at her home in Calabasas with her sons Sean, 7, and Jayden, 6, and Jason Trawick has moved out.
Jason Trawick also acted as Britney Spears’ manager, and the pop star has now changed management to CAA, indicating the pair have also severed ties in their business relationship.
Court papers just release show resigned as Britney Spears’ co-conservator, but her father Jamie Spears will remain as conservator.
Reports had suggested that Jamie Spears had in fact brokered his daughter’s break-up with Jason himself, and a friend confirmed: “I did hear this.”
Radar Online reported: “Jason wanted out, and in the fragile state that Britney is in, it’s not like he could have a rational conversation with her about it, so it was really between him and Jamie.
“They decided how the relationship needed to end and how to go about the technicalities, such as removing Jason from the conservatorship, when he would move out and how to announce the split. Britney was left out of everything and really didn’t even know what was going on.
“Jason and Jamie wanted to make sure that Britney didn’t lose it, so they had to water things down for her a bit.”
Britney Spears had raked in $15 million for her judging role on the X Factor.
Announcing her departure from the Fox talent show, Britney Spears said: “I had an incredible time doing the show and I love the other judges and I am so proud of my teens but it’s time for me to get back in the studio.
“Watching them all do their thing up on that stage every week made me miss performing so much! I can’t wait to get back out there and do what I love most.”
However, her team has already begun “serious talks” for a lucrative Vegas concert deal.