Paradise Casino Walkerhill, situated in Gwangjin-gu, Seoul, has made headlines with the unveiling of its newly expanded VIP-exclusive venue. This significant development, the casino’s first expansion in nearly a decade, not only enhances its physical space but also aims to boost its competitive edge in the high-stakes gambling market.
Key Details of the Expansion
The expansion, part of the broader Paradise Value Up Project, has transformed the buffet restaurant on the second floor of Grand Walkerhill Seoul into a dedicated space for high-stakes bettors.
Gaming Offerings
With the expansion, Paradise Casino Walkerhill now boasts a total of 112 table games and 213 gaming machines, an increase of 19 machines thanks to the new development. This enhancement not only provides more gaming options for customers but also positions the casino as a prime destination for both casual and high-stakes gamblers.
Financial Projections and Strategic Goals
Paradise Group has ambitious revenue projections for the new VIP venue. They estimate revenue will reach KRW 22 billion ($16.54 million) by 2025 and KRW 32 billion in 2026. This expected growth underscores the company’s commitment to attracting high-roller clients and solidifying its market position.
Future Developments: International Lounge at Gimpo Airport
In an effort to expand its VIP customer base, Paradise Group plans to open a new international lounge at Gimpo Airport in October. This initiative aims to provide seamless service for high-stakes gamblers traveling internationally, further enhancing the overall customer experience.
Leadership Insights
CEO Choi Jong Hwan commented on the strategic importance of this expansion, stating that it represents a critical opportunity for Paradise Casino Walkerhill. The focus on high-roller customers and the enhancement of physical infrastructure will provide a significant competitive advantage in the casino industry.
Choi emphasized the company’s commitment to transforming into a “smart casino” by incorporating new digital technologies. This forward-thinking approach aims to solidify Paradise Group’s position as a market leader.
Recent Financial Performance
This announcement comes in the wake of mixed results in Paradise Co’s recent financial report. While the casino saw a 7.3% revenue increase in July, there was a 1.3% decline in year-on-year figures. This highlights the need for the expansion and the strategic initiatives being implemented to attract more customers.
The expansion of Paradise Casino Walkerhill marks a significant step towards enhancing its offerings for high-stakes gamblers. With an increased space, a luxurious design, and ambitious financial projections, the casino is poised to strengthen its competitive position in the market. The addition of an international lounge at Gimpo Airport further supports its goal of creating a premier experience for VIP customers. As the company continues to innovate and adapt, its commitment to growth and excellence in service remains clear.