RPT-Genting Singapore, China's Landing Int'l to develop $2.2 bln S.Korea casino

HONG KONG Fri Feb 7, 2014 4:21am EST

HONG KONG Feb 7 (Reuters) - Casino operator Genting Singapore PLC and Chinese property developer Landing International Development Ltd said on Friday they would jointly develop a $2.2 bln casino resort in South Korea.

The complex will be located in Jeju island and is due to open in 2017, the companies said in a joint statement.

South Korea has 16 foreigner-only casinos whose primary customers come from China and Japan. The country forbids its citizens from gambling in casinos outside of Kangwon Land , an isolated resort which is a three-hour drive from Seoul. (Reporting by Farah Master; Writing by Miral Fahmy; Editing by Chris Cushing)