Hong Kong’s New Silkroad Culturaltainment given green light for new Jeju integrated resort
Hong Kong investment company New Silkroad Culturaltainment Limited says it has received development approval to proceed with a substantial new integrated resort development on the Korean holiday island of Jeju. In an announcement, the company revealed that the Governor of...
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Korea’s Paradise Co continues upward momentum in February
Korea’s Paradise Co continued its recent recovery in February, with casino revenue rising 28.5% year-on-year to KRW55.83 billion (US$49.6 million). The increase included a 28.8% rise in table game revenue from KRW39.92 billion in February 2018 to KRW51.42 billion, while...
Suncity Group and Paradise Co set to cooperate on Paradise Casino Busan
Asian gaming investor Suncity Group Holdings Limited has signed a non-legally binding Memorandum of Understanding with Korean IR operator Paradise Co. Ltd. In regards to a potential cooperation agreement at Paradise Casino Busan. Although Suncity didn’t elaborate on the nature...
Losses widen for Korea’s Paradise Co in 4Q18 as Incheon IR operating costs soar
Korea’s Paradise Co saw its losses widen significantly to KRW35.76 billion (US$31.7 million) in the three months to 31 December 2018, increased from a loss of KRW12.77 billion in the same period in 2017. The loss was attributable primarily to...
Bad luck limits Paradise Group’s growth in January
Bad luck impacted Korean casino operator Paradise Group’s earnings in January, with year-on-year revenue enjoying only a marginal rise despite a 27.2% increase in table drop. Paradise reported table drop of KRW557.68 billion (US$495.5 million) for the period across the...
Mohegan closing in on final US$200 million in funding for Korean IR Inspire
US tribal casino operator Mohegan Gaming and Entertainment remains on track to officially break ground on its US$1.6 billion Korean integrated resort, Inspire, in the second quarter of this year as it moves closer to securing the final US$200 million...
Paradise Reinvented
Paradise City integrated resort leans on art, airport and Japan ties to overcome “first mover disadvantage” and its foreigner-only casino restriction.
Jeju to crack down on Korean migrants entering casinos
Authorities on Korea’s Jeju Island have announced an upcoming crackdown on Korean migrants entering the island’s foreigner-only casinos. From 31 January to 24 February, Jeju will monitor eight foreigner-only casinos in order to make sure that migrants are properly qualified...
