South Korea rejects preliminary casino licence for Caesars, Universal

SEOUL/HONG KONG (REUTERS) - South Korea has rejected preliminary casino licences 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 licences were rejected.

A ministry spokeswoman was not able to provide a reason for the rejection.