Suncity, Paradise in talks over Busan venture

Hong Kong-listed junket, Suncity Group, said it has signed a memorandum of understanding with South Korea’s Paradise on a possible cooperation in the operator’s Busan casino.

Paradise Casino Busan has a full range of gaming facilities located at the Paradise Hotel Busan by Haeundae Beach, one of the best tourist attractions in Busan.

“The company has been focusing on expanding its tourism related businesses and the board believes that should the possible cooperation materialise, it can enable both parties to form a synergy and develop its own strengths, resources and expertise,” Suncity said.

Suncity, which also has a stake in an IR in Vietnam provided no further details as to what form the cooperation might take.

It stressed at present, the memorandum of understanding is not legally binding.

The Busan casino contributed KRW200 billion to Paradise group revenue in Q4.