South Korea’s leading foreigner-only casino operator, Paradise Co, said Wednesday it forecasts reaching almost US$1 billion in sales by 2026 as it looks to grow its international business.
In a filing following news that the company will build a new luxury hotel in Seoul as part of a plan to provide greater appeal for international VIPs, Paradise outlined its three-year sales forecast with sales expected to reach KRW1.17 trillion (US$843 million) this year before climbing to KRW1.25 billion (US$901 million) in 2025 and KRW1.32 billion (US$951 million) in 2026.
Total sales for the first half of 2024, including both gaming and non-gaming, are estimated to have reached KRW569.9 billion (US$411 million).
In its filing, Paradise said the forecast is based on the current business environment but could differ depending on future changes in domestic and overseas market conditions and the overall business environment.
As reported by Inside Asian Gaming, Paradise this week outlined plans to enhance its international appeal by developing an 18-story all-suite hotel offering premium services for foreign VIPs in Seoul.
The company is also set to open a new VIP gaming space at its Seoul casino, Paradise Walkerhill, and says it is upgrading its systems to provide better connectivity across its four Korean casinos in Seoul, Incheon, Busan and Jeju.
