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Korean and Chinese companies have reportedly approved the construction of an integrated $800 million casino resort near the port city of Incheon to officially extend the construction deadline by one year.

Guangzhou R&F Properties Company Limited was licensed to open the first phase of its 1,087-acre facility near Incheon International Airport by the end of this month, according to a report Thursday by Inside Asian Gaming, but sources detailed the company’s subsequent schedule cancellation due to delays linked to the coronavirus pandemic and the subsequent withdrawal of U.S. operations partner Caesars Entertainment Inc.

The Hong Kong-listed developer reportedly responded to the difficulties by asking the Ministry of Culture, Sports and Tourism to delay the work of the Yeongjongdo complex by three years until spring 2024 to complete the work of a 1,250-room hotel and 700 slots and 150 game tables, but the ministry has now agreed to extend the deadline by 12 months.

Guangzhou R&F Real Estate Co., Ltd. is nonetheless continuing its efforts in South Korea, and last month Las Vegas-based Caesars Entertainment Inc. paid an undisclosed amount of cash to acquire a 50% stake in development. The company now hopes to resume construction in the coming weeks to begin a project that became known as Caesars Korea early next year.

The decision to apply for the extension is not unique, as U.S. tribal casino operator Mohegan Gaming and Entertainment recently had to ask for a similar delay in connection with the $1.6 billion Enspire Entertainment Resort project taking shape on 1,079 acres of land at the other end of Yeongjongdo Island. The company behind the huge Mohegan Sun development in eastern Connecticut is said to be waiting for news on whether it will request a six-month delay to push ahead with the project, which is scheduled for November 5 next year.

Related news and GGRAsia reported that South Korea’s Ministry of Culture, Sports and Tourism recently sanctioned an agreement in which Guangzhou R&F Properties Limited acquired a 50 percent stake in the Incheon plan, also known as Midan City Resort Complex, formerly owned by Caesars Entertainment Inc. The source nevertheless explained that the company now needs to find a new foreign partner of 205500 feet to provide an additional 15500 square foot indoor environment. 릴게임

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