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South Korea rejects preliminary casino license for Caesars, Universal

SEOUL/HONG KONG (Reuters) - South Korea has rejected preliminary casino licenses for two international bidders, a Caesars Entertainment and Lippo Limited consortium, and Kazuo Okada's Universal Entertainment.
/ Source: Reuters

SEOUL/HONG KONG (Reuters) - South Korea has rejected preliminary casino licenses for two international bidders, a Caesars Entertainment and Lippo Limited consortium, and Kazuo Okada's Universal Entertainment.

The surprise move could stall plans for casino development as a means to attract tourists.

The Ministry of Culture, Sports and Tourism confirmed to Reuters on Friday that both requests for licenses were rejected. A ministry spokeswoman was not able to provide a reason for the rejection.

(Reporting by Jungyoun Park and Farah Master; Editing by Edmund Klamann)