Sands not letting go of $10B casino resort dream in South Korea

Sheldon Adelson’s group is pressing on with its plan of building a casino resort—one that will allow locals in—in South Korea.

In an interview with the Korea Economic Daily, George Tanasijevich, managing director of global development for Las Vegas Sands Corp., confirmed that Sands Group is still eyeing South Korea’s port city of Busan as the location for its $10 billion integrated resort.

“The best location for Sands Group to invest in is Busan. We are willing to move in as soon as investment conditions are met,” Tanasijevich told the South Korean news outlet, pointing out that Busan “has an unlimited growth potential” due to its location between Japan and China although the country is “suffering in obscurity due to lack of enough five-star hotels and exhibition and conventions areas.”

Back in June, “key members” of casino operator Las Vegas Sands reportedly made their way to Busan North Port to have “a look around the land for establishment of the entertainment resort,” and also met with the Busan city government to talk “investment strategy.”