First IR seeks to inspire lukewarm market

South Korea’s first true integrated resort is expected to open on April 20, although concerns remain about the potential for growth in the foreigner-only market. When Paradise Group and Japan’s Sega Sammy open their KRW1.3 trillion ($1.1 billion) property in Incheon next month, it will be the country’s  largest casino to date. The opening will come as other planned projects struggle to make headway and amidst doubts over the growth potential of the market given its reliance on overseas visitors. Paradise City will be located about 1.1 km from Incheon International airport, a zone which is ultimately scheduled to host at least two other major IR projects. Just 40 minutes from downtown Seoul. It is within a four-hour flight of Hong Kong and Taiwan and just 90 minutes from Beijing, Shanghai and Tokyo. There is a population of about 1.35 billion people in the surrounding region. Paradise owns 55 percent of the venture,...

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