Paradise Co to open high-roller area at Walkerhill casino
The new facility will cover 383 square metres.
South Korea.- Choi Jong-hwan, Paradise Co’s chief executive, announced on Tuesday (July 2) that a new space specifically for high-rollers will open at the Paradise Casino Walkerhill in Seoul in September. The new area will span approximately 383 square meters (4,123 square feet).
Paradise Co is also set to integrate the operating systems of its four casinos (Seoul, Incheon, Busan, and Jeju). This aims to enhance marketing efforts by leveraging an existing customer base of 1.07 million. Meanwhile, the company will open its own customer lounge at Gimpo International Airport in Seoul this August.
The updates were provided in a briefing at Paradise City in Incheon, a property jointly managed with Japan’s Sega Sammy Holdings. Choi Jong-hwan emphasised the potential for growth in the Chinese market and sid Jeju Island presents an opportunity due to the visa-free entry policy for Chinese visitors.
To attract more Chinese tourists, Paradise Co plans to develop various travel products and host cultural events, including those focused on South Korean popular music, television dramas, and fashion, which have a strong following in East Asia.
Paradise Co has also announced plans to begin construction on a new hotel in the Jangchung neighbourhood of eastern Seoul this year, with a target opening date in 2028. The 18-floor hotel will feature approximately 200 suites and five basement levels, offering premium services for foreign VIPs and will cover 13,950 square meters.
In June, Paradise Co started trading on the country’s KOSPI stock index after delisting from the KOSDAQ index. The KOSPI is an index of all common shares on the main trade board of the Korea Stock Exchange. KOSDAQ began in 1996 as an independent stock market by the Korea Financial Investment Association.
For the first quarter of the year, Paradise Co reported net income attributable to shareholders of KRW25.94bn (US$19m). The figure was up 271.1 per cent when compared to Q1 last year and compares to a net loss of KRW9.10bn in the final quarter of 2023.
