South Korea’s leading foreigner-only casino operator, Paradise Co, is pledging KRW120 billion (US$82.1 million) worth of shares it owns in subsidiary Paradise Sega Sammy Co Ltd to support a KRW100 billion (US$68.5 million) it is obtaining from a consortium of Korean banks.
Paradise Sega Sammy Co Ltd is the joint venture partnership that owns and operates integrated resort Paradise City in Incheon, of which Paradise holds a controlling 55% stake and Japan’s Sega Sammy Holdings the other 45%.
According to information contained in a Korea Exchange filing, the pledge represents 49,576,129 shares or around 5.8% of Paradise Co.’s equity capital and is valid for one year from the expected first loan drawdown date in December 2025.
Paradise did not provide any reasons for seeking the loan or details on how it plans to spend the proceeds.
The company last week reported a 7.5% year-on-year increase in revenue to KRW288.2 billion (US$198 million) in 3Q25, aided by all-time record drop at Paradise City and high hold at its three wholly-owned casinos in Seoul, Busan and Jeju.
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