Paradise City, which is set to open in April, will fuel South Korean casino operator Paradise Co. Ltd.’s revenue in 2017, according to Seoul-based brokerage Shinhan Investment Corp.
In a note it issued on Thursday, Shinhan predicted that Paradise Co.’s revenue may grow by as much 35.3 percent this year. Analyst June-won Sung’s optimism on Paradise Co. is driven by the opening of Paradise City slated in April.
“Paradise Co as a whole is forecast to post sales of KRW938.6 billion [US$805.3 million] in 2017,” Shinhan, a subsidiary of Shinhan Financial Group Co Ltd that provides security brokerage and investment banking services in South Korea, said.
Paradise Co., the country’s largest foreigners-only casino operator, has swung back to profitability last year after it hit KRW 603.1b (US $509m) in the 12 months ending December 31, 2016. The figure is 6.2% higher than 2015’s total, which was down 14.7% from 2014.