GGRAsia – Paradise City concludes phase one US$1.4bln investment

Paradise City concludes phase one US$1.4bln investment

Sep 12, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck

The promoter of the Paradise City casino resort (pictured) at Incheon, South Korea, says the second stage of phase one featuring new non-gaming facilities, will open on September 21, marking an aggregate investment so far of nearly KRW1.6 trillion (US$1.39 billion) in the project.

The promoter Paradise SegaSammy Co Ltd, is a joint venture between South Korean casino operator Paradise Co Ltd and Japan’s Sega Sammy Holdings Inc.

The new amenities include a shopping mall, a boutique hotel, a spa, a club, a film studio, a family entertainment compound and an art gallery.

The second stage of phase one adds 110,000 square metres (1.18 million sq feet)of floor space comprised of the 58-room Art Paradiso hotel, a premium spa named Cimer, a club branded Chroma, an art gallery known as Paradise Art Space, a shopping mall named Plaza, a film studio with the moniker Studio Paradise, and a family entertainment facility known as Wonderbox. Wonderbox will open on a later date.

Paradise City was launched in April 2017 with a hotel, a casino open only to foreigners, and a convention hall under the theme of what the group calls “art-tainment,” – a combination of art and entertainment – with an infusion of Japanese-style hospitality.

It reportedly received some 310,000 visitors in the first 100 days of operation.

Of the KRW1.6-trillion phase-one investment, approximately KRW331.9 billion comes from Sega Sammy Holdings, the latter said in a September 7 press release.