Seoul casino being moved by Grand Korea Leisure Company Limited
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Grand Korea Leisure Company Limited is moving its Seven Luck-branded gambling enterprise from the Millennium Hilton Seoul to the Seoul Dragon City Hotelplex development. The foreigner-only casino is set to be moved before the first day of 2023 and will be run under an initial lease expiring in August of 3032.
Grand Korea Leisure Company Limited has operated the Seven Luck-branded casino within the 22-story Millennium Hilton Seoul for over 15 years. The company was hit with some bad news in May when the five-star property was sold to local real estate developer Igis Asset Management for approximately $926.5 million.
Millennium Hilton Seoul is being demolished in order to make way for a new office complex. Grand Korea Leisure Company Limited is looking for an alternative downtown home for the Seoul gambling enterprise.
Grand Korea Leisure Company Limited is responsible for Seven Luck-branded enterprises inside the Intercontinental Seoul Coex and Lotte Hotel Busan properties. It is a subsidiary of the Korea Tourism Organization. The company is planning to wrap up gambling operations at the Millennium Hilton Seoul before the end of 2022.
Grand Korea Leisure Company Limited is moving its Seoul casino. The company has been struggling financially recently. It is closing down some of its properties due to a virus.
