Scientific Game

Paradise claim VIP confidence as Korean IR officially opens

Thursday, 20 April 2017 15:51
Share
Visit us

Paradise Group Chairman Chun Phil-lip has claimed his company’s US$1.1 billion Paradise City resort won’t suffer from a travel ban imposed by China due to the property’s VIP focus.

Korea’s first integrated resort held its official opening on Thursday, unveiling a 711 room hotel, convention center and casino as part of its first phase. The opening has been clouded by the ongoing spat between South Korea and China over the former’s intention to install a THAAD anti-ballistic missile system with China subsequently ordering its travel agencies to halt Korean operations. Chinese tourist numbers to Korea fell by 39.4% in March.

But Chun said such concerns were unfounded.

“The target VIP visitors from China are not affected by the Chinese travel ban because they do not travel with big tourist groups, meaning that we will be less affected by the conflict compared to other industries such as the duty-free industry,” he said at a press conference at the Paradise City launch.

“Most of our customers individually visit Korea, so they are actually not influenced by the travel ban of the Chinese government.

“But we will deal with the issue in a conservative way, and we hope more Chinese customers return to Korea during next year's PyeongChang Winter Olympics."

"We are considering cooperating with the Korean Olympic Committee to accommodate VIPs who visit Korea during the Winter Games. We want to show the Korean wave to foreigners and let them know Korea also has an integrated resort.”

Chun also confirmed that the Paradise City project – a joint venture between Paradise Co and Japan’s Sega Sammy Holdings – was pushing ahead with Phase 2 which will include retail outlets, a spa, nightclub and family attractions.

“Paradise City was a challenge best suited for Paradise Group, a first mover in the tourism industry,” he said. “We will raise the stature of Korea through Paradise City, East Asia‘s first integrated resort, and create a K-style destination for visitors from all over the world.”

 

 



 

What's new

G2E Asia Awards: Meet the Judges – Alidad Tash

G2E Asia Awards: Meet the Judges – Alidad Tash Alidad Tash has been in the gaming industry since 2000, starting on the Las Vegas strip at the Venetian and continuing on to Macau 12 years ago. He was on the opening team at Venetian Macao, the first Cotai property, leading the analytics department. While there, he popularized the now-ubiquitous No... Monday, 23 April 2018 07:13

PhilWeb sees 1Q18 revenue surge 236%

PhilWeb sees 1Q18 revenue surge 236% Philippines gaming services provider PhilWeb Corporation has announced a 236.7% surge in revenue to Php87.8 million for the three months to 31 March 2018. The year-on-year boost follows the renewal of its license by PAGCOR last August after Gregorio Araneta III purchased a 53.75% stake in the compa... Monday, 23 April 2018 07:09

Galaxy’s Philippines partner still buying up Boracay land: report

Galaxy’s Philippines partner still buying up Boracay land: report Galaxy Entertainment Group’s Philippines partner, Leisure and Resorts World Corp (LRWC), is still buying land in Boracay despite recent claims by President Rodrigo Duterte that no new casinos would be built on the holiday island. According to a report by The Philippine Star, Municipal Executive A... Monday, 23 April 2018 07:01

Judiciary Police arrest one, clear junkets over cryptocurrency subscription scheme

Judiciary Police arrest one, clear junkets over cryptocurrency subscription scheme Macau’s Judiciary Police have detained a local man for his involvement in a cryptocurrency subscription allegedly being falsely promoted by Lantai Digital Application Technology. In a media briefing on Friday, a Judiciary Police spokesman confirmed that the man – a 37-year-old named only as Hon... Monday, 23 April 2018 06:25

Current Issue

G2E ASIA AWARDS to debut in 2018

G2E ASIA AWARDS to debut in 2018 Inside Asian Gaming and G2E Asia will co-organize the inaugural G2E Asia Awards in 2018 – the official awards of Asia’s biggest industry  trade show and exhibition, G2E Asia. In an exciting development for the Asian gaming industry, Inside Asian Gaming and G2E Asia announced in March that they... Wednesday, 04 April 2018 14:07

Indian Dreaming: Tiger Palace putting Nepal in the game

Indian Dreaming: Tiger Palace putting Nepal in the game By Ben Blaschke The first integrated resort to be built in South Asia, Tiger Palace Resort in Nepal’s lowland Terai plains sits just eight kilometers from the border with India’s most populous state Uttar Pradesh, home to some 215 million people. At US$52 million it also represents a fascinatin... Wednesday, 04 April 2018 14:12

Digital Danger

Digital Danger As the world becomes increasingly digital, the world’s casino operators are taking cyber security more seriously than ever before. But as leading risk mitigation company Kroll explains, risks remain – and not always where you might expect.  By Ben Blaschke AS cautionary tales go, the downfall... Wednesday, 04 April 2018 14:09

Gaming development outlook along the Belt and Road

Gaming development outlook along the Belt and Road Michael Zhu, SVP of International Planning and Analysis for The Innovation Group, delves into the benefits that Chinese President Xi Jinping’s “One Belt and One Road” initiative will bring to Asia’s gaming industry. By Michael Zhu PRIOR to the current recovery of Macau’s gaming malaise, ... Wednesday, 04 April 2018 14:08