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THE INVESTOR

Retail & Consumer

Korea’s first casino resort unveiled

  • PUBLISHED :April 20, 2017 - 15:51
  • UPDATED :April 20, 2017 - 15:51
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[THE INVESTOR] The first casino resort complex in Korea, combining multi-purpose hospitality and entertainment facilities, was unveiled on April 20, as the country is struggling to cope with a dearth of Chinese visitors in the wake of a diplomatic row with its neighbor.

Paradise City marked its official opening in Yeongjongdo, west of Seoul, as the biggest casino resort in the country, vowing to draw hundreds of thousands of visitors annually from around the world, especially neighboring China and Southeast Asia.

The construction of the mega-scale casino resort, worth 1.3 trillion won (US$1.14 billion) kicked off in late 2011, after a joint venture set up by Paradise and Sega Sammy Holdings, a Japanese slot machine maker, won the bid to carry out the project.

Built on 300,000 square meters of land facing the Yellow Sea, the resort complex encompasses a foreigner-only casino, two hotels, a shopping plaza and other amenities designed by renowned experts here and abroad to cater to the tastes of both locals and overseas visitors, the company said.

By Alex Lee and newswires (alexlee@heraldcorp.com)
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