Paradise City Casino of South Korea Attracting 3K Visitors Daily

Paradise City Casino South KoreaThe recently opened Paradise City Casino Resort in South Korea has announced that it has attracted more than 3,000 visitors on a daily basis within the first 100 days of its inauguration.

Till date, the casino resort has attracted approximately 310,000 visitors since its inception.

The casino which is designed for foreign visitors is located in Incheon and was opened for public on April 20, 2017. The Incheon port city is a major regional destination for the tourists, and the casino resort is situated in the neighbourhood of the leading international airport that serves the capital city of Seoul.

The casino is estimated at $1.1 billion as property and is spread over a considerable area of 3.58 million square foot. It has been developed by Paradise Co Ltd which is a South Korean gaming operator and with the assistance of Sega Sammy Holdings Inc which is a Japanese pachinko operator. It is interesting to note that Paradise City is first Las Vegas-styled integrated casino resort in this region.

Paradise City

The operator at the time of its inauguration claimed that the casino would attract around 1.5 million customers in the year 2017 alone. One spokesperson from the casino operator told the local newspaper that the occupancy of the hotel was 90% since the first day of its opening.

The development of the first phase of Paradise City was done with an initial investment of $1.6 billion, and it offers four-game installations, 154 table games, and 281 slot machines. There are 711 rooms in the casino hotel with several bars and restaurants and not to forget the health facilities and entertainment venues. In the latter stage, it is planned to build a boutique hotel and unique entertainment offerings. The spokesman from the operator that the second phase development is on its way and has completed 55 percent.

The city of Incheon is also seeing the development of 2 additional major game projects. The construction of a $1.6 billion casino resort by US tribal casino operator Mohegan Gaming and Entertainment along with Incheon International Airport and the chemical giant KCC Corp. It is estimated that the project would be completed by the end of 2017.

Caesars Entertainment Corp which is a major casino operator is looking forward to developing a significant project here by entering into a partnership with Guangzhou R&F Properties Co Ltd Construction which is a Mainland China real estate developer. The project would be completed before September this year.

Apart from the casino in Incheon, the Paradise Co. operates three other foreign only casinos namely Busan Casino in Busan, Walkerhill in Seoul and Jeju Grand on Jeju Island. As per the filings made by the casino operator earlier this month, there was 20.7% drop in revenues in first half of 2017 because of dismal performance in the gaming sector and due to China banning its residents to travel South Korea.

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