CLAIMS TO FAME
- Opened South Korea’s first true integrated resort, Paradise City, in 2017
- Leads Korea’s foreigner-only casino market with locations in Seoul, Incheon, Busan and Jeju
South Korea’s predominantly foreigner-only casino market was hit extraordinarily hard by the pandemic years, but Phillip Chun’s Paradise has bounced back in truly epic fashion in 2024.
By far the dominant force among the country’s foreigner-only operators, Paradise has wasted no time in shoring up that mantle with strong casino sales through the first six months of the year – particularly at Paradise City in Incheon, Korea’s first true integrated resort when it opened in 2017.
Driving the recovery, Paradise explained in its 2Q24 earnings deck, have been mass market tables as well as the Japan VIP segment, so much so that the company booked an all-time high in “soft drop” in the month of May.
Paradise has loftier ambitions than mere recovery, however, announcing in July plans to develop a new all-suite hotel in Seoul to better serve foreign VIPs, particularly those from China. It is also upgrading its VIP gaming space at Seoul’s Paradise Walkerhill casino and implementing new operating systems across its casino inventory in Seoul, Incheon, Busan and Jeju.
That potentially spells an exciting new era for Chun, an industry veteran these days having taken over the family’s business after the passing of his father, Chun Rak-won, in 2004.
For the full list of 2024 Asian Gaming Power 50 winners, click here.
