South Korea casino operator Paradise Co. plans to start construction in October on a 1 trillion won integrated resort (US0 million) near Incheon International Airport that will look to cash in on the country’s growing number of Chinese tourists.
Paradise is partnering with Japanese pachinko-maker Sega Sammy Holdings on the project, called Paradise City, and plans to open it early in 2017, according to a Reuters report.
Although small by regional standards, with only 120 gaming tables, 400 slot machines and 300 electronic gaming tables in its first phase, Choi Jong-hwan, CEO of Paradise Sega Sammy Co., said the property expects 20-30 percent of its business will come from junket play, compared with 5 percent at Paradise’s other Korean casinos, and is banking on the proximity to China and the appeal of Korean culture among the Chinese.
“There will be more rich people in China, and they will need to travel,” Choi said. “This is a megatrend.”
The number of Chinese tourists to South Korea grew nearly 53 percent last year.
