{"id":55799,"date":"2017-08-02T15:00:19","date_gmt":"2017-08-02T22:00:19","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=55799"},"modified":"2017-08-02T13:42:47","modified_gmt":"2017-08-02T20:42:47","slug":"south-koreas-paradise-city-casino-falling-short-of-utopian-projections","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/south-koreas-paradise-city-casino-falling-short-of-utopian-projections\/","title":{"rendered":"South Korea\u2019s Paradise City Casino Falling Short of Utopian Projections"},"content":{"rendered":"

Nirvana has not been reached at the Paradise Casino in South Korea, as customer traffic forecasts are not being met at the new $1.12 billion resort that opened in April.<\/p>\n

\"Paradise
The Paradise City Casino opened in April, but so far hasn’t been flooded by the masses of visitors initially anticipated. (Image: Paradise City)<\/figcaption><\/figure>\n

The \u201cforeigners-only\u201d property in Incheon has so far welcomed 310,000 people in its first three months, falling short on projections of 1.5 million visitors in its first year. Though there are still nine months to catch up, these initial numbers have raised concerns.<\/p>\n

The massive Paradise City complex, located just minutes from Seoul\u2019s Incheon International Airport, is being developed by\u00a0South Korea\u2019s Paradise Group and Japan\u2019s Sega Sammy Holdings. It\u2019s the first full-fledged integrated casino resort in South Korea, with more to follow<\/a>.<\/p>\n

High-Occupancy Optimism<\/h2>\n

Despite the less than spectacular visitation numbers, Paradise City are still confident the resort will succeed. One spokesman told South Korea\u2019s Cosun Ilbo<\/em> newspaper the positive signs are evident.<\/p>\n

\u201cSince the first phase\u00a0opened, about 90 percent of hotel rooms have been occupied,\u201d the spokesman said. He added that when the second phase of construction is complete, which is currently on pace to open early next year, foot traffic will increase as the resort will then offer more entertainment options, as well as a boutique hotel.<\/p><\/blockquote>\n

The resort won\u2019t want to rest on its laurels, however, with two additional megaresorts planned for the Incheon corridor soon.<\/p>\n

American tribal casino operator Mohegan Gaming<\/a> has partnered with South Korean chemical company KCC and the Incheon International Airport. Meanwhile, Las Vegas-based multinational Caesars Entertainment has partnered with a Chinese real estate developer. Both are expected to start construction by the end of this year.<\/p>\n

Limited Revenue Potential<\/h2>\n

The hope for investors in Incheon is that together they will achieve a critical mass, creating a touted tourism destination. But the optimism is met with a dose of caution so long as South Korea keeps out its own citizens, limiting revenue potential.<\/p>\n

\n

Currently only Kangwon Land, near the site of the 2018 Winter Olympics, about three hours from Seoul, invites resident Koreans to play.<\/strong><\/p>\n<\/div>\n

Further complicating efforts to attract foreign customers, however, include unexpected travel restrictions the Chinese government placed on its citizens, two days prior to Paradise City\u2019s opening, coinciding with a softening of restrictions on Chinese travel to Macau.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nirvana has not been reached at the Paradise Casino in South Korea, as customer traffic forecasts are not being met at the new $1.12 billion resort that opened in April. The \u201cforeigners-only\u201d property in Incheon has so far welcomed 310,000 people in its first three months, falling short on projections of 1.5 million visitors in […]<\/p>\n","protected":false},"author":42,"featured_media":55802,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18,61],"tags":[],"acf":[],"yoast_head":"\nSouth Korea\u2019s Paradise City Casino Falling Short of Utopian Projections<\/title>\n<meta name=\"description\" content=\"The new foreigners-only resort in Incheon saw an estimated 310,000 visitors in its first 100 days of operation, and has projected 1.5 million annually.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/south-koreas-paradise-city-casino-falling-short-of-utopian-projections\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea\u2019s Paradise City Casino Falling Short of Utopian Projections\" \/>\n<meta property=\"og:description\" content=\"The new foreigners-only resort in Incheon saw an estimated 310,000 visitors in its first 100 days of operation, and has projected 1.5 million annually.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/south-koreas-paradise-city-casino-falling-short-of-utopian-projections\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-02T22:00:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-08-02T20:42:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/Paradise-City.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/south-koreas-paradise-city-casino-falling-short-of-utopian-projections\/\",\"url\":\"https:\/\/www.casino.org\/news\/south-koreas-paradise-city-casino-falling-short-of-utopian-projections\/\",\"name\":\"South Korea\u2019s Paradise City Casino Falling Short of Utopian Projections\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/south-koreas-paradise-city-casino-falling-short-of-utopian-projections\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/south-koreas-paradise-city-casino-falling-short-of-utopian-projections\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/Paradise-City.jpg\",\"datePublished\":\"2017-08-02T22:00:19+00:00\",\"dateModified\":\"2017-08-02T20:42:47+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"The new foreigners-only resort in Incheon saw an estimated 310,000 visitors in its first 100 days of operation, and has projected 1.5 million annually.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/south-koreas-paradise-city-casino-falling-short-of-utopian-projections\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/south-koreas-paradise-city-casino-falling-short-of-utopian-projections\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/south-koreas-paradise-city-casino-falling-short-of-utopian-projections\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/Paradise-City.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/08\/Paradise-City.jpg\",\"width\":1024,\"height\":683,\"caption\":\"The Paradise City Casino opened in April, but so far hasn't been flooded by the masses of visitors initially anticipated. 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