Paradise Co confirms probe by S. Korea tax authority

Nov 09, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Paradise Co Ltd, an operator in South Korea of foreigner-only casinos, has confirmed in response to an emailed enquiry from GGRAsia, that it is under investigation by the country’s National Tax Service.

The company told us it was not aware of “the exact purpose” of the National Tax Service’s probe.

The body’s scrutiny of Paradise Co was first reported on Friday by Mirae Biz, a South Korean media outlet.

The Mirae Biz report coincided with an announcement by the National Tax Service dated November 4, which said that the authorities were probing 38 entities regarding allegations of varying offences, including embezzlement of corporate funds and tax evasion.

Paradise Co has foreigner-only casino operations at Walkerhill in Seoul; Jeju Grand on Jeju Island; and Busan Casino in the southern port city of Busan. The firm also runs a foreigner-only gaming venue at the integrated resort complex Paradise City in Incheon, near South Korea’s main airport, under a venture with Japan’s Sega Sammy Holdings Inc.

Paradise Co has suffered from disruption due to Covid-19, including several instances of temporary closure of venues. Paradise City’s casino had to be shuttered earlier in the autumn after several instances of infection among staff. It most recently reopened on September 9.

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