Friday, June 21, 2013
South Korea rejects preliminary casino license for Caesars, Universal
A general view shows the empty streets outside The Caesar's Casino in Atlantic City, New Jersey, August 26, 2011.
Credit: Reuters/Jason Reed
SEOUL/HONG KONG |
(Reuters) - South Korea has rejected preliminary casino licenses for two international bidders, a Caesars Entertainment and Lippo Limited consortium, and Kazuo Okada's Universal Entertainment.
The surprise move could stall plans for casino development as a means to attract tourists.
The Ministry of Culture, Sports and Tourism confirmed to Reuters on Friday that both requests for licenses were rejected. A ministry spokeswoman was not able to provide a reason for the rejection.
(Reporting by Jungyoun Park and Farah Master; Editing by Edmund Klamann)
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