Thursday, October 29, 2020
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Paradise Hotel Busan

Trouble in Paradise?

Hints continue to emerge in the Korean media that Paradise Co. may be in a rather deep financial crisis, with the latest word being that investors are keeping their distance as the firm struggles to increase its liquidity.

Shinhwa World labor union demands worker protections against smokers

A labor union representing workers at Shinhwa World in Jeju is demanding that the company enforce protections vis-a-vis cigarette smoking, pointing out that even in Macau smoking is now prohibited in casinos.

Paradise Co. facing investor disinterest in bond issue

Paradise Co. is reportedly having great difficulty finding institutional investors interested in purchasing its bonds, as concerns are growing about the firm’s prospects in the wake of a Covid-19 downturn that may starve its foreigner-only casinos for quite some time.

Kangwon Land reopens at limited capacity

Kangwon Land has announced it has reopened its casino to visitors, operating at a limited capacity.

Paradise Co. struggles to boost liquidity

Paradise Co. is reportedly seeking to boost its liquidity after taking "a direct hit" from the ongoing coronavirus pandemic.
GKL September sales down over 76 percent

GKL September sales down over 76 percent

Grand Korea Leisure has reported September sales at KRW9.4 billion (US$8.1 million), a figure that was down over 76 percent from the 2019 numbers. Of...
Kangwon Land estimates 67 percent fall in 2020 casino revenues

Kangwon Land estimates 67 percent fall in 2020 casino revenues

Kangwon Land, which has suffered long periods of closure under the impact of the Covid-19 impact, is now estimating that its casino revenues for...
Paradise Co. Aug. sales flat month-on-month

Paradise September sales improve

Paradise Co., which operates foreigner-only casinos in South Korea, saw an improvement in sales in September from the prior month, even though they were down 71 percent from the prior year.
Employees of Jeju Dream Tower notified to begin work next month

Employees of Jeju Dream Tower notified to begin work next month

On Tuesday, about a thousand Lotte Tour Development employees were notified that they should prepare to show up at the newly-constructed Jeju Dream Tower...
Lotte Tour Development moves company HQ

Lotte Tour Development moves company HQ to Jeju Dream Tower

Lotte Tour Development shareholders gave their consent on Monday for the company, established in 1971, to move its headquarters from Seoul to the soon-to-be...

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