Paradise targets Chinese high rollers

    S. Korea’s largest operator, Paradise Co., is set to break ground with its joint venture with Sega Sammy Holdings in October this year with the country’s first integrated resort near Incheon’s main airport. Paradise City is due to open in early 2017, a full year before that of the Caesars/Lippo consortium project nearby. Paradise is banking on the proximity to China and the appeal of the Korean culture to attract more Chinese tourists.
    “There will be more rich people in China, and they will need to travel,” Choi Jong-hwan, CEO of Paradise Sega Sammy Co, said in an interview. “This is a megatrend.” The number of Chinese tourists to South Korea grew nearly 53 percent last year.
    At a cost of 1 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 20-30 percent of its business, compared with 5 percent at its other casinos currently.