R&F Korea (RFKR) told GGRAsia that it had “not decided” on the next steps, including whether to appeal, after the South Korean Ministry of Culture, Sports and Tourism ruled that it had “nullied” the right to operate foreigner-only casinos and integrated resorts (IR) businesses in Incheon.
On Tuesday, the ministry confirmed to GGRAsia that “RFKR’s casino business license has been officially invalidated,” but added that the company would have 90 days to appeal against the decision.
The news comes after RFKR failed to secure a 12-month extension to the first phase opening deadline requested by authorities in December.
The most recent deadline extension was announced on March 17, 2023, marking the fourth time the site has been rescheduled since 2018.
According to the Incheon Free Economic Zone Authority (IFEZA), construction work has been suspended since 2020, but about 25 percent of RFKR’s plans have been developed. The public institution oversees the location on Yeongjong Island near Incheon International Airport.
RFKR is linked to financially struggling Hong Kong-listed Chinese developer Guangzhou R&F Properties Co Ltd.
BY: 온라인카지노