Casino operator from South Korea, Paradise Co, has officially closed a deal with Suncity Group Holdings Ltd to draw more Chinese tourists to its property. Suncity Group disclosed the deal in the filing with the Hong Kong Stock Exchange. According to the report, the company entered in non-binding cooperation with Paradise Co. By this very moment, Suncity has been famous for its work on attracting Chinese punters to Macau. However, this step is an obvious indicator that the company targets diverse gambling markets.
Commenting on the new agreement, Suncity published the following statement:
“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…strengths, resources and expertise…”
The company also commented on its new partner, adding:
“Paradise Casino Busan is currently operated by Paradise Co and is a licensed casino with full range of gaming facilities located at the Paradise Hotel Busan by Haeundae Beach, one of the best tourist attractions in Busan.”
Paradise Co provider has been popular for offering foreign casino services in South Korea. The company started to improve its revenues, despite notable losses in the last quarter of 2018. Over the years, it has recorded a significant number of Chinese VIP guests and now it hopes to attract more high-value tourists for betting purposes. Only recently the company has begun collaborations with two other gambling providers in Vietnam and Cambodia.
The recent partnership with Suncity is not the first deal of this kind. More and more operators fight to attract Chinese gamblers to their venues. Universal Entertainment is another company which closed the deal with CTS Shanghai Zhongqiao International Travel Service Co. Ltd to attract foreign gamblers to Okada Manila casino.
As you can see, Asian operators work on a clear policy to attract high-value customers. The Republic of China has become the regular contributor to all rising land-based casinos. The country provides the highest number of tourists by drawing different generations to popular casino resorts.
Source:
“Paradise Co enters into a new Chinese tourist deal”, Derek Tonin, calvinayre.com, February 22, 2019.