Paradise Co Ltd najavljuje veliko ulaganje od tristo devedeset šest milijuna dolara za novi luksuzni hotel u seoulskom području Jangchung koji bi trebao biti otvoren 2028.

Četvrtak, ožujak 13, 2025

Paradise Co Ltd planira uložiti 396.4 milijuna dolara u novi hotel u Jangchungu u Seulu, s ciljem da se otvori 2028. kako bi unaprijedio svoj kasino posao.

Paradise Co Ltd, a South Korean company specializing in foreigner-exclusive casinos, revealed on Wednesday its plan to invest approximately 575 billion South Korean won (around $396.4 million) in constructing a new hotel in the Jangchung district of eastern Seoul. The company aims to open the hotel by 2028, according to a statement released to the Korea Exchange.

In related news, Paradise Co has obtained a financial boost with a 550 billion won loan from Woori Bank to support the development of this new venture in the capital city. The interest rate for this loan is set at the 91-day certificate-of-deposit rate, which stood at 2.84% as of last Tuesday, with an additional margin of 0.97%, bringing the total to 3.81%, as per the latest filing.

The announcement did not specify if the new hotel would include a casino.

Paradise Co explained that this project is part of a strategy to broaden its business scope by adding a hotel that complements its existing casino operations.

For the fiscal year 2024, Paradise Co reported a 30.1% increase in net income, totaling 104.3 billion won. The company’s revenue also saw a rise, reaching about 1.07 trillion won, a 7.8% increase from the previous year.

Furthermore, Paradise Co announced a year-end cash dividend of 150 won per share of common stock, scheduled for payment on April 25. The total dividend distribution is expected to be around 12.95 billion won.

Paradise Co owns and operates three casino facilities: Paradise Walkerhill in Seoul, Paradise Jeju on Jeju Island, and another in the port city of Busan. Additionally, the company is involved in a joint venture with Sega Sammy Holdings Inc. from Japan, operating the Paradise City casino resort located in Incheon, close to South Korea’s main international airport.