South Korea’s foreigner-only casinos see revenues grow in August
South Korea’s foreigner-only casino operators posted improved results in August with both Paradise Co and Grand Korea Leisure (GKL) announcing year-on-year increases this week. Paradise Co, which runs the Paradise City integrated resort in Incheon plus Paradise Walker-hill in Seoul,...
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Sale of the century
The impending takeover of Caesars Entertainment by Eldorado Resorts has put an end to the Las Vegas giant's Japan ambitions and cast doubt over its Korean IR while the company focuses on US gaming and debt reduction. The empire of...
Jeju gaming decline sees Landing International fall into loss in 1H19
A significant fall in revenue from its Korean casino operation saw Hong Kong-listed Landing International Development Ltd report a loss of HK$835.6 million in the six months to 30 June 2019, down from a profit of HK$280.5 million in the...
Korea’s Paradise City to turn profitable in third quarter: JP Morgan
Korean integrated resort Paradise City is on track to finally turn profitable in 3Q19, according to JP Morgan analysts, buoyed by lower expenses and the ongoing ramp of both its gaming and non-gaming segments. The positive estimates follow the release...
World Poker Tour announces 2019 “Asia Swing” in Vietnam, Japan and Korea
The World Poker Tour has announced its 2019 “Asia Swing” – a series of events in Vietnam, Japan and Korea that will see prizes awarded for the best performing players across all three stops. Points will be awarded in a...
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Landing International, Imperial Pacific issue profit warnings ahead of expected 1H19 losses
Two of Asia’s burgeoning integrated resort operators have issued profit warnings ahead of the release of their 1H19 financial results, with both expecting to record a loss for the period. Landing International Development Ltd, which operates Korea’s Jeju Shinhwa World,...
Korea’s Kangwon Land enjoys first positive revenue, profit growth in 10 quarters
Korea’s Kangwon Land, the only casino in the country at which locals are allowed to gamble, booked its first positive revenue and profit growth in two-and-a-half years on the back of “improved efficiency” on the casino floor. Gross gaming revenue...
Caesars sets max future Korea CapEx at US$60 million
Caesars Entertainment Corporation says it has capped the amount of additional cash it is willing to directly invest into its planned Caesars Korea integrated resort in Incheon at US$60 million as it looks to secure final financing to proceed with...
