Inside Asian Gaming

INSIDE ASIAN GAMING FEB 2019 20 junket promoter Suncity Group uses rooms at Paradise City and commissions reportedly exceed 1.6%. VIP play comprised 86% of the KRW2.29 trillion total drop for Paradise City’s first full year of gaming operations, Paradise reports. Net gaming revenue topped KRW250 million. Those figured trailed KRW2.48 trillion drop and KRW295 million net revenue at Paradise Walkerhill in northeastern Seoul with 100 tables, 100 slots and 30 electronic gaming terminals crammed into 3,800 square meters rented in a hotel basement. Paradise City should overtake Walkerhill this year after increasing drop by 68% last year. K-EUROPE? Paradise City’s Phase 1-2, opened in September, adds attractions while doubling down on the art theme. Chroma, Northeast Asia’s largest nightclub at over 7,000 square meters (75,000 square feet), features two stages, Korean and international DJs and a year-round rooftop pool deck including cabanas with whirlpool spas. Cimer marries a “European art spa” to the traditional Korean jjimjilbang with a variety of pools, sauna and themed relaxation spaces. Indoor theme park Wonder Box is due to open by April. Boutique hotel Art Paradiso anchors The Plaza, an airy, sky lit space modeled after Florence’s Piazza della Signoria. A “lifestyle design hotel inspired by European boutique hotels,” according to Paradise, Art Paradiso has 58 suites plus a high end contemporary Korean restaurant and “Amsterdam style” gastropub utilizing Korean ingredients. Paradise Art Space’s permanent collection boasts pieces by Hirst, American Jeff Koons and Koreans Lee Bae and Kim Hodeuk. Now 90% occupied, The Plaza’s 20 retail and food outlets offer eclectic Korean and international specialties plus a duty free department store. “Visitation is getting better, but it is below our expectations,” Paradise Investor Relations Manager HyeJeong Shim says. “The impact and the synergy to Paradise City’s casino operations for Phase 1-2 is very limited so far.” She expects greater benefits during the year’s second half. Paradise has transitioned from Chinese VIPs to Japanese and othersmore successfully than rival Grand Korea Leisure, and Paradise City will likely attract Chinese VIPs when that market rebounds. COVER STORY