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Korea to become the next Macau?
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Otherside



Joined: 06 Sep 2007

PostPosted: Tue Oct 30, 2012 8:06 pm    Post subject: Korea to become the next Macau? Reply with quote

http://www.bloomberg.com/news/2012-10-31/south-korea-s-incheon-plans-gaming-destination-to-rival-macau.html

Quote:
South Koreaís Incheon city, where the nationís busiest airport is located, plans to team up with a group of investors to develop a 317 trillion won ($290 billion) leisure and gaming destination three times the size of Macau.


Pity, if they were about 15 years earlier, they could've made some real coin. Secondly, perhaps they should have built the F1 track in Incheon to start with. One track is losing money in Korean, can't imagine how two would be viable.
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newb



Joined: 27 Aug 2012
Location: Korea

PostPosted: Tue Oct 30, 2012 8:56 pm    Post subject: Reply with quote

Bad idea.
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Steelrails



Joined: 12 Mar 2009
Location: Earth, Solar System

PostPosted: Tue Oct 30, 2012 9:23 pm    Post subject: Reply with quote

I think the only way Korea is going to be recognized as a gamer's paradise is when it comes to PC Gaming.
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newb



Joined: 27 Aug 2012
Location: Korea

PostPosted: Tue Oct 30, 2012 9:31 pm    Post subject: Reply with quote

Steelrails wrote:
I think the only way Korea is going to be recognized as a gamer's paradise is when it comes to PC Gaming.


Yeah, I heard people die of exhaustion while playing PC games day and night.
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Dave Chance



Joined: 30 May 2011

PostPosted: Tue Oct 30, 2012 10:17 pm    Post subject: Reply with quote

Way to go Incheon, gangster's rule.
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GoldMember



Joined: 24 Oct 2006

PostPosted: Tue Oct 30, 2012 11:17 pm    Post subject: Reply with quote

Years ago this would have been announced as Korea becoming a major Gaming Leisure "hub".

Just like all the other "hubs". Seems the expression "hub" has fallen out of favour.

I wonder if Lone Star will be one of the foreign investors?
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fosterman



Joined: 16 Nov 2011

PostPosted: Wed Oct 31, 2012 2:22 am    Post subject: Reply with quote

so this will be off limits to Koreans?

because if it will be open to Koreans to gamble.
it will have a sever social effect, and I am guessing it will never get off the ground, or canceled through construction.

what does Korea have to try and compete with Macau?
that is MAcua revenue stream, I don't see why Korea has to try and destroy macuas revenue, gambling just ruin lives.
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Squire



Joined: 26 Sep 2010
Location: Jeollanam-do

PostPosted: Wed Oct 31, 2012 4:46 am    Post subject: Reply with quote

Presumably the intention is to pull in Japanese gamblers? I can't imagine the Chinese will stop going to Macau
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Otherside



Joined: 06 Sep 2007

PostPosted: Wed Oct 31, 2012 3:37 pm    Post subject: Reply with quote

GoldMember wrote:
Years ago this would have been announced as Korea becoming a major Gaming Leisure "hub".

Just like all the other "hubs". Seems the expression "hub" has fallen out of favour.

I wonder if Lone Star will be one of the foreign investors?


I also noticed the ominous omission of the word hub. I remember a few years back, for a plan to get off the ground it had to be a "hub" of something.

At least putting in Incheon makes a bit of sense. Short 2 hour flight from Japan, and you're there, and could also keep a lot of Chinese men entertained while their wives' are overpaying for luxury goods and visiting coffee shops used in K-Dramas.

Perhaps this will be Atlantic City to Macau's Vegas?
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JustinC



Joined: 10 Mar 2012
Location: We Are The World!

PostPosted: Wed Oct 31, 2012 4:26 pm    Post subject: Reply with quote

There's always room for life's losers to pay for over-priced entertainment and feed their addiction.
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FloridaGator314



Joined: 04 Apr 2011

PostPosted: Wed Oct 31, 2012 7:08 pm    Post subject: Reply with quote

Incheon seems the be the most insecure city ever. The Macau thing is just another their extreme over exaggerations. There's nothing wrong with the city, but if you go by all the photoshopped ads of the city, you'd think it was an ultra futuristic utopia.
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Hootsmon



Joined: 22 Jan 2008

PostPosted: Thu Nov 01, 2012 8:18 pm    Post subject: Reply with quote

Worry not..."Hub" returns.

http://www.koreatimes.co.kr/www/news/biz/2012/11/488_123684.html
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Yaya



Joined: 25 Feb 2003
Location: Seoul

PostPosted: Thu Nov 01, 2012 11:19 pm    Post subject: Reply with quote

Fear not, Korea has plenty of politicians or upstarts who propose setting up the next "hub" of something. Money is no object since they will spend either the government's money or that of investors. I really wonder if these "bright-idea" dumbos would push for their plans if it was THEIR money at stake.

That said, Korea can be surprisingly successful. The popularity of Korean pop and dramas abroad caught me by surprise, but the hub talk has been floating around so long while other places have achieved what Korea THINKS of doing (i.e. Shenzhen and free trade zones, Thailand and medical tourism, etc.).
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big_fella1



Joined: 08 Dec 2005

PostPosted: Fri Nov 02, 2012 5:38 am    Post subject: Reply with quote

One: Korea would have to stop taxing those few individuals who actually win.

Two: Macau has easy access to Hong Kong and better weather. The secretive gambler to their partner: "I'm going to Hong Kong to shop on the weekend" or "I'm going to Korea to eat kimchi"
Which is more credible?

Finally taking foreigners money is okay, but taking Koreans money is bad, not even the facist state of Singapore goes that far, although Singaporeans do have to pay a daily fee to be there,
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Son Deureo!



Joined: 30 Apr 2003

PostPosted: Fri Nov 02, 2012 7:10 pm    Post subject: Reply with quote

If they want this to be a success, they've got to let Koreans gamble there too. I just can't see enough foreign tourists going to Incheon just to gamble to make a project on that scale profitable.
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