A mega entertainment complex with a luxury hotel, concert hall and foreigner-only casino to be built on Yeongjong Island heralds a welcome development boost for the island near Incheon International Airport.
Paradise Sega Sammy, a joint venture between Korean casino operator Paradise and Japanese entertainment group Sega Sammy Holdings, is signing the final contract with Incheon International Airport Corporation on Friday to build the complex as part of a project to create an international business zone there.
Talks to built tourist resorts on Yeongjong Island are also underway with Japan's Universal Entertainment, Caesars Entertainment and mall developer 555 Group of the U.S., and SDC of the U.K.
Paradise Sega Sammy plans to spend around W660 billion (US$1=W1,128) building a luxury hotel with 750 rooms, a conference center, a 20,000-seater concert hall for K-pop shows, indoor theme park, shopping mall, office building and foreigner-only casino.
Construction will start next year, with the hotel and mall to be ready in 2016 and the rest two years later.