Genting Singapore, PLC, Southeast Asia's largest casino operator by market value, has announced a joint venture to develop a casino resort on South Korea's Jeju Island.
Genting will partner with Chinese property company Landing International Development Limited on the $2.2 billion project, according to a company announcement.
The 2.3 million-square-meter project will be Jeju Island's largest resort to date, the company states. It will feature luxury hotels, a shopping mall, theme park, villas and apartments, as well as gaming and entertainment facilities.
"We are delighted to have the opportunity to be the first foreign and global operator to develop an integrated resort in Korea," Genting Singapore's chairman Tan Sri Lim Kok Thay said in a statement. "We are confident that together with Landing International, we will create a game changer for tourism development and employment in Jeju island.''
Construction for the resort is expected to begin this summer and open in 2017.
The resort will feature 800 gaming tables and a casino floor of 27,000 square meters, Bloomberg reports.