• 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
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Shareholders up investment in S.Korea’s Paradise City

Jun 05, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck  


Shareholders up investment in S.Korea’s Paradise City

Paradise SegaSammy Co Ltd, a joint venture between South Korean casino operator Paradise Co Ltd and Japan’s Sega Sammy Holdings Inc, is to allot a total of 10 million shares to its two shareholders, for an aggregate amount of KRW100 billion (US$93.6 million).

The funds will be used for the development of the second stage of the Paradise City casino resort (pictured), in South Korea, with a phase-opening starting in September this year, said Paradise Co in a Monday filing to the Korea Exchange.

The casino operator stated it would pay KRW55 billion for approximately 5.5 million new shares in Paradise SegaSammy. Sega Sammy Holdings will acquire nearly 4.5 million shares, for a total consideration of KRW45 billion.

Following the allotment exercise, Paradise Co will maintain its 55-percent stake in Paradise SegaSammy, controlling nearly 38.6 million shares, it said in Monday’s filing.

The South Korean company said the first phase of the second stage of Paradise City casino resort will focus on non-gaming amenities, including more hotel rooms, retail shops, a club and spa.

The property is located in Yeongjong Island, home to Incheon International Airport – and part of the Incheon Free Economic Zone.

Paradise City was launched in 2017. Its casino is only open to foreigners.


  • tweet
Related articles
  • Mohegan seeks govt nod to delay Inspire opening
    Mohegan seeks govt nod to delay Inspire...

    Jan 22, 2021  

  • Yokohama announces RFP timeline for casino bid
    Yokohama announces RFP timeline for...

    Jan 22, 2021  

More news
  • Casino op Silver Heritage gets new board of directors
    Casino op Silver Heritage gets new...

    Jan 25, 2021  

  • Digital yuan eventually for Macau mass bets mulls Bernstein
    Digital yuan eventually for Macau mass...

    Jan 22, 2021  


Latest News

Casino op Silver Heritage gets new board of directors

Casino op Silver Heritage gets new board of directors

Jan 25, 2021  

The administrators of Australia-listed casino operator Silver Heritage Group Ltd said in a Friday filing that they had “returned” control of the company to a new slate of directors, following the...
Read More
Digital yuan eventually for Macau mass bets mulls Bernstein

Digital yuan eventually for Macau mass bets mulls Bernstein

Jan 22, 2021  

Macau Covid-19 case no bar to mainland travel ties

Macau Covid-19 case no bar to mainland travel ties

Jan 22, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"The entire company is eagerly anticipating the launch of our newest themed destination – The Londoner Macao"

Wilfred Wong Ying Wai

President of Macau-based casino operator Sands China



Most Popular

  • Sands China sixth Macau op to pledge staff extra paymentSands China sixth Macau op to pledge staff extra payment January 21, 2021
  • Londoner Macao first phase launch Feb 8 says Sands ChinaLondoner Macao first phase launch Feb 8 says Sands China January 21, 2021
  • Melco likely to take on more debt for expansion: Moody’sMelco likely to take on more debt for expansion: Moody’s January 20, 2021
  • Macau Covid-19 case no bar to mainland travel tiesMacau Covid-19 case no bar to mainland travel ties January 22, 2021
  • Digital yuan eventually for Macau mass bets mulls BernsteinDigital yuan eventually for Macau mass bets mulls Bernstein January 22, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us