South Korea’s largest operator, Paradise Co, is set to break ground in October on the country’s first integrated resort near Incheon’s main airport.
Paradise City, a joint venture with Sega Sammy Holdings, is due to open in early 2017, a full year before the Caesars/Lippo consortium project nearby. Paradise is banking on the proximity to China and the appeal of Korean culture to attract more Chinese tourists.
"There will be more rich people in China and they will need to travel," said Choi Jong-hwan, CEO of Paradise Sega Sammy Co. "This is a mega-trend." The number of Chinese tourists to South Korea grew nearly 53 per cent last year.
At a cost of one trillion won, Paradise City’s first phase will open with 120 tables, 400 slot machines and 300 electronic gaming tables, which is small by the standards of mega-resorts elsewhere.
Choi also said that the company would rely on junkets to bring in around 20 to 30 per cent of its business, compared with five per cent at its other casinos currently.
