Paradise Co. weighs Maison Glad Jeju hotel investment
The 510-room property is located 15 minutes from the company’s Paradise Casino Jeju, potentially creating synergies with its existing operations.
Key takeaways:
- Paradise Co. is considering an investment in the Maison Glad Jeju hotel, but no acquisition decision has been finalised.
- The 510-room property is located approximately 15 minutes from Paradise Casino Jeju.
- Maison Glad Jeju was previously valued at KRW605bn (US$405m).
- Korean media reports say Paradise Co. is negotiating with DL Group alongside Koramco Asset Management, targeting a deal before the end of 2026.
- Paradise Co. operates four foreigner-only casinos in South Korea and acquired the West Wing of the Grand Hyatt Incheon earlier this year.
South Korea.- Paradise Co. Ltd. has confirmed that it is considering an investment in the Maison Glad Jeju hotel. The announcement was made in a regulatory filing on Monday following a local media report about the sale of the property. Paradise Co. stated that neither the acquisition nor the financial terms have been finalised, adding that it will issue another update once details are confirmed or within one month.
Maison Glad Jeju is a 510-room hotel located about 15 minutes away from Paradise Casino Jeju, a foreigner-only casino run by Paradise Co. The property was previously valued at around KRW605bn (US$405m).
According to Korean media reports, Paradise Co. has been negotiating with DL Group and working alongside Koramco Asset Management, aiming to finalise a deal before the end of 2026. Industry analysts previously suggested that buying the hotel could create strong synergies with the company’s existing casino operations on the island.
Paradise Co. operates four foreigner-only casinos across South Korea, including venues in Seoul, Busan, Jeju, and Incheon. The potential deal in Jeju follows another major expansion earlier this year, when the company acquired the West Wing of the Grand Hyatt Incheon to meet growing demand from international tourists.
Frequently asked questions (FAQs)
- Why is Paradise Co. considering an investment in Maison Glad Jeju? The hotel is located approximately 15 minutes from Paradise Casino Jeju, potentially creating synergies with the company’s existing casino operations on the island.
- How much is Maison Glad Jeju worth? The property was previously valued at approximately KRW605bn (US$405m).
- Who is Paradise Co. negotiating with to acquire Maison Glad Jeju? According to Korean media reports, Paradise Co. has been negotiating with DL Group, working alongside Koramco Asset Management.
- When could Paradise Co. complete the Maison Glad Jeju deal? Korean media reports indicate that the parties are aiming to finalise an agreement before the end of 2026. However, Paradise Co. has not confirmed a transaction or its financial terms.
