Grand Korea Leisure Set to Relocate Gangbuk Gaming Ops in South Korea

Grand Han-Gook Leisure (GKL) now knows where it testament live able to put I of its existing Seven Luck casinos in South Korea. The venue has to follow moved after the belongings below it was sold, and it testament at present move to the capital of South Korea Dragon City Hotelplex.

GKL was forced to bump a new home for its Seven Luck cassino at the Millennium Hilton Seoul inward Gangbuk. This past times May, the hotel was sold to real acres monetary fund manager Aegis Asset Management. That led the gambling casino operator to set in motion a summons treat to find a unexampled location for the gambling casino located at the property.

Bidding began on Sep 30 and wrapped upwards on November 10. The Seoul Dragon City won the bid, according to a filing past GKL with the Hong Kong Stock Exchange. The results aren’t surprising – the hotel was the only if single to get made a frolic for the casino.

GKL and the Seoul Dragon began negotiating the terms of the new partnership on December 3. In the end, they settled on a 10-year charter that was expected to live signed today. It begins on August 16 of next year, running until Aug 15, 2032.

While the charter starts next August, it power have longer for everything to live inwards place. GKL indicated that it could follow Jan of 2023 before the transition is completed.

The capital of South Korea Dragon an Ideal Location

The new home for the cassino seems to follow the hone spot. It’s only nearly 2.5 miles from the Millennium, which testament ease the relocation. It has four hotel brands – Grand Mercure, Ibis Styles, Novotel, and Novotel Suites – and a total of 1,700 rooms.

It also has 17 coming together rooms, 11 bars and restaurants, ii ballrooms, and high-end amenities. There is a four-level Sky Bridge with a illumination indoor pool, private beach club, and a skywalk.

Aegis purchased the former nursing home of the casino, which had only opened in 2017, from City Developments Ltd (CDL) for around US926.5 million. Once GKL is completely out, the companionship plans on demolishing the building. In its place, Aegis envisions a big office staff tower.

The Seven Luck at Gangbuk only reopened this past tense March after suffering single of several closures because of the COVID-19 pandemic. It, along with GKL’s other foreigner-only casinos, Gangnam COEX inwards Seoul and Seven Luck Casino Busan Lotte, suspended operations inward either belatedly Nov or early December. The Busan venue opened inwards February, and both Seoul casinos opened the next month.

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