This week Caesars Entertainment revealed that they’re giving up their stake in a proposed casino development in Incheon, South Korea, but didn’t share a reason for pulling out.
The company will be pushing off its stake in the property to Hong Kong company Guangzhou R&F Properties. The project has the name of Midan City Resort Complex, and was a 50-50 venture between Caesars and China Guangzhou R&F.
Construction was slated to begin in March, but is instead now being pushed back to March of 2024. This is the latest in a string of abandonments of Asian projects by Caesars. The company previously announced that they were giving up trying to obtain a Japanese gaming license.
We’re following the development of the property and will update readers as the project comes together.