The Indonesian developer wants its partner, Caesars Entertainment Corp to sell its stake in the project. South Korea.- Lippo Ltd decided to hand over its stake at the joint venture with Caesars Entertainment Corp called LOCZ Korea. The decision was made due to the decline experienced by the gaming industry in Asia. LOCZ Korea became the first foreign operator awarded with a casino license from the South Korea government in 2014. The 60-40 venture by Lippo and Caesars had planned to invest 2.3 trillion won (US$2 billion) to build a casino resort in Yeongjong Island, west of Seoul, by 2022. Even though Lippo decided to hand over its stake, the company still wants a participation in certain developments related to the project depending on the conditions agreed upon by the two parties.