An unidentified U.S. company under control of a Japanese majority shareholder is reportedly hoping to invest in a casino hotel complex next to Incheon International Airport in South Korea.
The Korea Times reports that though unconfirmed, the investment could be between $500 million and $2.5 billion. The site is said to be 3.3 million square meters, about 815 acres.
The Times quoted an unnamed director general at the Ministry of Knowledge Economy who said, “It is true that a U.S. entity paid a visit to us. We had a meeting with them late last month, though we have yet to reach any specific agreement.”
The director general said, “Officials of the firm intend to funnel quite a lot of money for the project of building a complex on Yeongjong Island. But, as you know, we don’t know anything for sure before we strike a deal when it comes to foreign investments.”
The airport has sought a casino since opening in 2000. In the past there have been investors interested in operating a casino inside the airport, for use by transiting passengers. However, research indicated such a casino would produce only around $5 million a year.