• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Japanese back to S. Korea good for Paradise Co: broker

May 10, 2022 Newsdesk Latest News, Rest of Asia, Top of the deck  


Japanese back to S. Korea good for Paradise Co: broker

Paradise Co Ltd is likely to be the South Korean casino operator to benefit the most from an anticipated return of Japanese tourists to the country. That is according to a note from Seoul-based brokerage Shinhan Investment Corp.

“We believe Paradise stands to benefit the most among domestic casinos from Japan demand recovery,” wrote analyst Ji InHae, in a report published on Friday.

Paradise Co is one the casino operators in that nation that is only permitted to serve overseas customers on the gaming floor.

She added: “In efforts to secure first-mover advantage ahead of the upturn in demand, Paradise has already dispatched a portion of its marketers to Japan.”

According to Shinhan Investment, expectations “have been growing” in South Korea that there will be a resumption in June of normal passenger flights between that country and Japan. The annual number of flights between the two countries had dropped from around 120,000 in 2019 to fewer than 10,000 in 2021, due to travel restrictions related to the Covid-19 pandemic, noted the brokerage.

A South Korean delegation sent by recently-elected president Yoon Suk-yeol visited Japan last month. After their return to South Korea, members of the delegation provided “positive comments on the possible resumption of flights, restoration of the visa waiver and expansion of quarantine exemptions between Korea and Japan,” noted Ms Ji in her note.

Mr Yoon took office on Tuesday (May 11) as head of state in South Korea.

“We will need to wait for official announcement on the timing, pace, and extent of the resumption of flights between Korea and Japan, with several variables requiring thorough review,” said Shinhan Investment’s Ms Ji.

She added: “Compared with other domestic [South Korean] casinos, Paradise had relied heavily on inbound travel from Japan before the [Covid-19] pandemic, with Japanese visitors accounting for roughly 35 percent of total VIP drop and more than 40 percent of total table drop including mass customers in 2019.”

Japanese conglomerate Sega Sammy Holdings Inc is a partner of Paradise Co in the latter’s largest branded property – Paradise City integrated resort – located on Yeongjong Island in Incheon, near Seoul.


  • tweet
Related articles
  • Foreign tourists can get S.Korean peninsula visa from June 1
    Foreign tourists can get S.Korean...

    May 20, 2022  

  • Kangwon drove 2021 S.Korea casino revenue growth: govt
    Kangwon drove 2021 S.Korea casino...

    May 18, 2022  

More news
  • Crown Resorts’ shareholders nod Blackstone bid
    Crown Resorts’ shareholders nod...

    May 20, 2022  

  • JP Morgan ups Aristocrat profit forecast 8pct for FY2022
    JP Morgan ups Aristocrat profit...

    May 20, 2022  


Latest News

Foreign tourists can get S.Korean peninsula visa from June 1

Foreign tourists can get S.Korean peninsula visa from June 1

May 20, 2022  

South Korea on Thursday said it would from June 1 resume issuing short-term tourism visas for trips to the country’s mainland, for individual visitors and groups of tourists. Permits for...
Read More
Crown Resorts’ shareholders nod Blackstone bid

Crown Resorts’ shareholders nod Blackstone bid

May 20, 2022  

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

May 20, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”[Revenue at Okada Manila] will be around 80 percent of the pre-pandemic level in 2022 before recovering almost fully in 2023"

Satoru Aoyama, Akash Gupta and Kalai Pillay

Analysts at credit rating agency Fitch



Most Popular

  • Foreign tourists can get S.Korean peninsula visa from June 1Foreign tourists can get S.Korean peninsula visa from June 1 May 20, 2022
  • Crown Resorts’ shareholders nod Blackstone bidCrown Resorts’ shareholders nod Blackstone bid May 20, 2022
  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
  • Andrew Lo takes controlling stake in Suncity, Summit AscentAndrew Lo takes controlling stake in Suncity, Summit Ascent May 19, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us