{"id":29746,"date":"2022-05-10T11:12:06","date_gmt":"2022-05-10T14:12:06","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=29746"},"modified":"2026-04-23T08:50:23","modified_gmt":"2026-04-23T11:50:23","slug":"paradise-co-could-benefit-from-return-of-japanese-tourists-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/paradise-co-could-benefit-from-return-of-japanese-tourists-analysts-say","title":{"rendered":"Paradise Co could benefit from return of Japanese tourists, analysts say"},"content":{"rendered":"\n

Paradise Co could benefit from the arrival of Japanese tourists once South Korea reopens its borders.<\/p>\n\n\n\n\n\n\n\n

South Korea.- Analysts at Se\u00fal Shinhan Investment Corp have reported that South Korean casino operator\u00a0Paradise Co\u00a0<\/strong>could see the most benefit from the arrival of Japanese tourists in the following months.<\/p>\n\n\n\n

Shinhan Investment<\/strong> says South Korea’s expectations for a return of regular passenger flights to and from Japan in June are increasing. The brokerage noted that the number of annual flights between the two countries fell from around 120,000 in 2019 to less than 10,000 in 2021 due to travel restrictions related to the Covid-19 pandemic.<\/p>\n\n\n\n

Paradise Co’s casino, which can only be accessed by foreign customers, reported\u00a0a fall in revenue of 7.6 per cent in April<\/a> when compared to the previous month, down from KRW18.64bn to KRW17.22bn (US$13.5m).\u00a0<\/p>\n\n\n\n

According to GGR Asia, Shinhan Investment\u2019s Ms Ji said: “Compared with other domestic South Korean casinos, Paradise had relied heavily on inbound travel from Japan before the Covid-19 pandemic, with Japanese visitors accounting for roughly 35 per cent of total VIP drop and more than 40 per cent of total table drop including mass customers in 2019.”<\/p>\n\n\n\n

Casino revenue in South Korea<\/a>\u00a0was KRW1.18tn (US$975.39m) in 2021, compared to KRW1.04tn in 2020. Revenue from the 16 foreign-only casinos fell nearly 31.9 per cent year-on-year to KRW407.13bn. Compared with KRW2.93tn in 2019, the last year of transactions before the Covid-19 pandemic, total casino revenue fell by 59.7 per cent.<\/p>\n\n\n\n

Paradise Co sells office in Gangnam to bolster liquidity<\/h2>\n\n\n\n

As previously reported by Focus Gaming News, it\u2019s emerged that Paradise Co has sold an office building in the Gangnam district of Seoul for KRW100.5bn (US$79m). According to Korea Biz, the casino operator sold the office to secure liquidity and improve its financial position due to the impact of the Covid-19 pandemic.<\/p>\n\n\n\n

Due to the economic crisis, Paradise Co Ltd saw its workforce decline 5.3 per cent in the last two years. In 2021, Paradise Co casino revenue<\/a> was down 25.7 per cent when compared to the previous year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Paradise Co could benefit from the arrival of Japanese tourists once South Korea reopens its borders.<\/p>\n","protected":false},"author":176,"featured_media":16379,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"South Korean casino operator Paradise Co is projected to significantly benefit from the anticipated return of Japanese tourists, a demographic that historically constituted a substantial portion of its VIP and mass market segments. The company previously experienced severe revenue declines and workforce reductions due to COVID-19 travel restrictions, necessitating the divestment of an office asset to bolster liquidity and improve its financial position.","focusai_entities":"Paradise Co, Shinhan Investment Corp, GGR Asia, Korea Biz","focusai_location":"South Korea, Japan, Seoul, Gangnam","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Paradise Co GGR Outlook?","query":"What is the projected GGR and NGR for Paradise Co in Q3 and Q4, assuming a full resumption of Japanese inbound tourism and historical VIP drop conversion rates?"},{"label":"Liquidity & Debt Impact?","query":"How will the KRW100.5bn asset divestment impact Paradise Co's debt-to-equity ratio, operational cash flow, and capital expenditure capacity over the next two fiscal quarters?"}],"footnotes":""},"categories":[157,16338],"tags":[1705],"class_list":["post-29746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-paradise-co"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=29746"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29746\/revisions"}],"predecessor-version":[{"id":29755,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29746\/revisions\/29755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16379"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=29746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}