According to a media outlet from South Korea, Donga Ilbo, the last meeting between president Donald Trump and the representatives may have been fruitful for both sides as the talks about a possible casino investment allegedly took place in the oval office.
A representative of North Korea, Kim Yong Choi, who is one of the most important people in North Korea after Kim Jong-un, suggested that US finance supports their plan for building a casino as a part of the coastal tourist attraction project that is currently underway in North Korea. The name of the project is Wonsan-Kalma and, according to the North Korean TV news, builders are currently working hard to complete it.
The casino deal is a logical step forward conducted by the officials of both countries as a way to establish better relations since North Korea’s denuclearization may happen any time soon. The summit in Singapore will happen on June 12, and it will involve Trump and Kim Jong-un discussing the relations between two countries, one of them possibly being investing in a casino in Wonsan-Kalma.
Wonsan-Kalma was first proposed by Kim Jong-un during his addressing to the people in the Hermit Kingdom at the time of New Year. Also, he was seen visiting the construction site with other officials last month and giving positive comments about the future of this project. As far as the deadlines are concerned, the plan is to finish the whole project by April 15, 2019, which is also the birthday of Kim Il Sung, the grandfather of current North Korea’s leader.
Gaming will not be the primary focus of the project, and it is planned to include things such as a ski resort and other amenities which are unrelated to gambling. Some of the expectations include revenue of $50 million per year for the country which already has serious problems with the economy.
North Korea’s proposal was not accidentally aimed towards Donald Trump as he already has experience in the casino industry. What can further make Trump interested in such a peculiar investment is that the North Koreans might allow some form of the Trump brand to appear in Wonsan-Kalma.
However, Trump was not the only one invited to invest in this project. Namely, Paradise Co Ltd and Grand Korea Leisure are the South Korean companies that will also support the project which resulted in their shares suddenly going up.
North Korea already has a couple of small casinos which are mainly parts of hotels where tourists reside. The two most famous casinos are in a hotel in Pyongyang and in Rason which is located on the border with China. On top of that, the government officials announced that they want to make horse races wagering with real money authorized. It seems that North Korea slowly opens up to gaming and casinos. Is it going to work out or and will the US accept the offer to invest in a casino?
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