Paradise Co targets steady growth through 2027
The casino operator set a 10% annual sales goal and ended its co-CEO structure.
Key Points:
– Paradise Co aims for 10% annual sales growth and over 20% operating profit by 2027
– Moves to single CEO structure as Choi Seong-wook steps down
– Plans a new luxury hotel in Seoul and a stronger focus on foreign VIPs
Paradise Co, one of South Korea’s leading casino operators catering to foreigners, has outlined a three-year strategy focused on boosting financial performance and enhancing governance. The company is aiming for an annual sales growth rate of 10% through to 2027, with an operating profit margin exceeding 20%.
The plan, announced through a filing to the Korea Exchange, includes increasing shareholder value through stronger dividend policies and treasury stock management. The company also intends to reinforce board-led governance and streamline investor relations.
As part of these changes, Paradise Co confirmed it will no longer operate under a co-CEO model. Choi Seong-wook stepped down from his role following the end of his term, leaving Choi Jong-hwan as the sole Chief Executive Officer.
Paradise operates multiple casinos in South Korea, including venues in Seoul, Busan and Jeju, and is the main partner in the Paradise City resort in Incheon alongside Japan’s Sega Sammy Holdings.
A significant part of the company’s growth strategy includes a new 18-storey hotel in Seoul, scheduled to open in 2028. The property will offer around 200 suites, premium Korean cuisine and wellness services aimed at attracting high-end foreign guests. A new VIP gaming zone at Paradise Casino Walkerhill in Seoul is also expected to open later this year.
To better serve international customers, a dedicated lounge at Gimpo International Airport is set to open. The company has highlighted Chinese travellers as a key market, particularly with Jeju Island’s visa-free access and the continued appeal of Korean popular culture.
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