The Jeju area in South Korea is known for its flair for gambling. Casinos are sprouting off the ground like mushrooms after rain. This labored metaphor aside, Jeju is indeed quite the place to be when you want to gamble. The opportunities are quite numerous and you may spend a casual afternoon enjoying video slots or table games or simply drop by at the time of a major tournament.
The Jeju Casino Festivities
Casinos in Jeju are quite the common sight. You will hardly walk a few steps without seeing a new glitzy and well-lit building beckoning at you and tempting you with what surely is its many gambling secrets. But far from getting away, you should bear in mind that the competing options are many and you needn’t hurry up.
Right now, Jeju is playing host to one particular event which is quite whimsy in its own right – the Triton Poker Series, which are seeing the world’s elite compete against each other. Now, you may argue that the event lacks the grandeur of the World Series of Poker (WSOP), and you will be somewhat correct.
However, that’s not the whole story. Triton Poker is one of those unique opportunities people use to play poker versus people from different cultures and playstyles. An intimate opportunity to take a peak in the innermost desires of poker players of different ilk.
In other words, Triton Poker is an occurrence that you as a leisurely visitor may want to attend to. In any other case, the island is back to business as usual.
Lotte Tour Development Co. Flexes Financial Muscles
Meanwhile, the influx of fresh capital has been incessant. Lotte Tour Development Co., a South Korea-based company, has decided to throw in nearly $40 million in its Paradise Casino Jeju Lotte, making first tentative steps into the casino business.
Such sum should suffice to lift anyone’s dream off the ground or at least come very near to its mark. Lotte Tour Development is not messing around either. The company is pushing for 100% acquisition of the Paradise Casino Jeju Lotte, which is currently managed by Paradise Group.
More importantly, the company says that it has already assumed control. But far from letting things run their course, Lotte is stepping up its game and taking preliminary actions. The company will be buying the casino’s debt, which is a rather threatening amount.
Jeju – A Promised Land
Whether Jeju can compete with other sweet spots for gambling in Asia is another story altogether. Everything points that they indeed can. The simple fact of the matter is that Macau is currently facing some regulatory fire from China whereas Japan is just opening its properties. Meanwhile, South Korea has the upper hand of having an established place in its backyard where activities related to gambling can continue as usual.
This will give a leg-up of South Korea companies for sure, but nobody should be getting too complacent right now. Competition in the East is only going to mount steadfastly.