The anticipated April opening of new casino resort Paradise City in Incheon is expecting to help drive a revenue increase for South Korean operator Paradise Co of around 35.3 per cent.
June-won Sung, analyst at Seoul-based brokerage Shinhan Investment, said: “Paradise Co as a whole is forecast to post sales of KRW938.6bn[US$805.3m]. The share price is projected to climb further if monthly earnings of the new casino resort come in line with the consensus after the opening. Costs may become an issue… if sales fall short of expectations.”
The 2017 prediction includes KRW751bn in GGR, up 24.8 per cent from last year’s figures, which had increase by 6.2 per cent on 2015.
Shinhan Investment, a subsidiary of Shinhan Financial Group Co Ltd, provides security brokerage and investment banking services in South Korea.
Paradise City is being built in partnership with Sega Sammy in Incheon, close to the international airport.