The operator of foreigner-only casinos in South Korea says it does not know why the National Tax Service is probing its finances.
South Korea.- Casino operator Paradise Co. is under investigation by South Korea’s National Tax Service.
Local news services have reported that authorities are investigating several offences, including embezzlement of corporate funds and tax evasion at 38 companies, including the casino operator.
Paradise Co. confirmed to GGRAsia that the investigation is ongoing but said it is unaware of the reasons.
The company operates foreigner-only casinos in Seoul, Jeju Island, Incheon and Busan. In October, the firm reported a 9 per cent monthly improvement in casino sales, although revenue remained 72.2 per cent below October 2019 levels.