Lippo-Caesars Southern Korea Casino Project Clouded by ‘Uncertainties’

Lippo-Caesars Southern Korea Casino Project Clouded by ‘Uncertainties’

Hong Kong-based estate that is real Lippo Ltd. stated early in the day this week that its joint project with US gaming giant Caesars Entertainment Corp. for the construction of a built-in resort in Incheon, Southern Korea might not be materialized due to ‘a quantity of uncertainties.’

Later in 2014, the consortium of Lippo and Caesars Entertainment subsidiaries reached a deal that is conditional the purchase of a 90,000-square-meter percentage of land for the planned hotel and casino resort from merchant MIDAN City developing Co. Ltd. Lippo holds a 55% stake into the second business.

Previously this week, however, it became clear that the parties that are involved not agreed upon all the necessary conditions concerning the purchase associated with the stated part of land. Here you should observe that the purchase contract is set to expire on December 31, 2015. Lippo stated in a filing towards the Hong Kong Stock Exchange that they might never be able to proceed because of the casino project due to ‘a wide range of uncertainties.’

The estate that is real explained that the said ‘uncertainties’ are linked to whether or not the conditional free pokies games to download land deal would in the course of time be finalized and whether or not the consortium user would acknowledge various investment terms.

LOCZ Korea Corp., since the consortium has been called, comprises Lippo Worldwide, a wholly owned subsidiary of Lippo, OUE International, an organization partly owned by the Hong Kong-based property developer, and Caesars Entertainment’s Caesars Korea. Continue reading “Lippo-Caesars Southern Korea Casino Project Clouded by ‘Uncertainties’”