Jeju approves New Silkroad IR
Company’s Megaluck casinos’ revenue jumped 57.8% in 2018 S2
Hong Kong-listed New Silkroad said in a statement to the stock exchange that approval has been granted to non-wholly owned Macrolink Glorious Hill Co. by the Governor of Jeju province. The company added it has received permission to build an integrated resort on Jeju island, which will be one of the largest in South Korea.
“The group believes that the project will bring sustainable and promising revenue to the group in future,” said New Silkroad in a statement. New Silkroad has a 55 percent stake in Macrolink, which was formed in 2014 to develop an IR on a 1.3 million sq.m site, a half an hour drive from Jeju’s international airport.
The new resort will consist of five-star hotels, with about 1,000 rooms, MICE facilities, a spa, retail, villas and condos. The company already owns the Megaluck casino on Jeju and saw a 57.8 percent jump in revenue in the six months to end-June to HK$54.3 million, helped by improving visitation from China.
