Paradise Co Ltd

Paradise Co Ltd is South Korea's largest and longest-established casino operator, founded in 1989 and headquartered in Seoul. The company operates three major casino properties — Paradise Walkerhill (Seoul), Paradise City (Incheon, near Seoul), and Paradise Jeju (Jeju Island) — and is listed on the Korea Exchange (KRX: 034230). Paradise Co Ltd is the dominant player in South Korea's foreigner-only casino market, catering exclusively to foreign visitors (South Korean citizens are prohibited from entering domestic casinos, with the exception of Kangwon Land).

Paradise's flagship property, Paradise Walkerhill, is one of Seoul's premier foreigner-only casinos, located in the Walkerhill Hotel complex overlooking the Han River. The property features 200+ hotel rooms, 100+ gaming tables (baccarat, blackjack, roulette, poker), electronic gaming machines, and multiple restaurants and bars. Paradise City is South Korea's first integrated resort (opened 2017), located near Incheon International Airport, while Paradise Jeju serves the Jeju Island tourism market.

Paradise Co Ltd is licensed and regulated by the Korean Ministry of Culture, Sports and Tourism (MCST) under the Tourism Promotion Act. South Korea's casino industry is unique in that domestic casinos are restricted to foreign passport holders only, with the sole exception of Kangwon Land (the only casino where Korean citizens are permitted to gamble). Paradise Co Ltd has historically focused on Japanese and Chinese VIP customers, and has expanded its focus to Southeast Asian and other international visitors.

Paradise Walkerhill (Seoul)

Paradise Walkerhill is Paradise Co Ltd's flagship property and one of Seoul's premier foreigner-only casinos, located in the Walkerhill Hotel complex in Gwangjin-gu, overlooking the Han River. The property features 200+ hotel rooms (Grand Walkerhill Seoul — luxury, Walkerhill Hotel — boutique), 100+ gaming tables (baccarat, blackjack, roulette, poker, sic bo), electronic gaming machines, multiple restaurants (including Michelin-starred dining), bars, and entertainment venues. Paradise Walkerhill is a major destination for international visitors to Seoul and has historically focused on Japanese VIP customers.

Paradise City (Incheon)

Paradise City is South Korea's first integrated resort, opened in 2017 near Incheon International Airport (the main international gateway to Seoul). The property is a joint venture between Paradise Co Ltd and Japanese pachinko operator Sega Sammy Holdings. Paradise City features 700+ hotel rooms (Paradise City Hotel & Resort, Cimer — boutique art hotel), 150+ gaming tables, electronic gaming machines, 30+ restaurants and bars, a spa and wellness center (Cimer), art galleries, a safari park, and extensive entertainment venues. Paradise City is designed as a destination integrated resort targeting international visitors and transit passengers at Incheon Airport.

Paradise Jeju (Jeju Island)

Paradise Jeju is a boutique casino on Jeju Island, South Korea's most popular tourist destination. The property features a smaller gaming floor with 30+ gaming tables and electronic gaming machines, restaurants and bars, targeting international tourists visiting Jeju Island. Paradise Jeju serves the Jeju tourism market, which attracts significant numbers of Chinese, Japanese, and other international visitors.

Paradise Casino Busan

Paradise Casino Busan (formerly Paradise Busan Hotel Casino) is a foreigner-only casino in Busan, South Korea's second-largest city. The property features 30+ gaming tables, electronic gaming machines, restaurants and bars, targeting international visitors to Busan. Paradise Casino Busan serves the Busan tourism market and complements Paradise's Seoul, Incheon, and Jeju properties.

Hotel Operations

Paradise Co Ltd operates luxury hotels across its properties, including the Grand Walkerhill Seoul (a luxury hotel in the Walkerhill complex), Paradise City Hotel & Resort (Incheon), and Cimer (boutique art hotel at Paradise City). The hotel operations complement the casino operations and provide luxury accommodation for international visitors.

VIP & Junket Operations

Paradise Co Ltd has historically focused on VIP international gaming, particularly targeting Japanese and Chinese high-rollers through junket operators. The company has expanded its focus to Southeast Asian and other international VIP customers, and has adapted to regulatory changes in the junket industry (similar to the Macau junket crackdown). Paradise's VIP operations are a significant component of its revenue, though the company also serves mass-market international visitors.

1989 — Foundation

Paradise Co Ltd was founded in 1989 as one of South Korea's first casino operators. The company established its first casino (Paradise Walkerhill) in Seoul, targeting foreign visitors to South Korea. The foundation coincided with South Korea's economic development and growing international tourism.

1989 — Paradise Walkerhill Opening

Paradise Walkerhill opened in 1989 as one of Seoul's first foreigner-only casinos, located in the Walkerhill Hotel complex. The property quickly became a major destination for international visitors to Seoul, particularly Japanese tourists, and established Paradise Co Ltd as a leading South Korean casino operator.

1990s-2000s — Expansion (Busan, Jeju)

Paradise Co Ltd expanded beyond Seoul in the 1990s and 2000s, opening Paradise Casino Busan (Busan) and Paradise Jeju (Jeju Island). The expansion established Paradise as a multi-property South Korean casino operator with a presence in the country's key tourism markets.

2014 — KRX Listing

Paradise Co Ltd was listed on the Korea Exchange (KRX: 034230) in 2014, becoming a publicly traded company. The listing provided capital for the Paradise City development and established Paradise as a major South Korean listed company.

2017 — Paradise City Opening

Paradise City opened in 2017 as South Korea's first integrated resort, located near Incheon International Airport. The property is a joint venture between Paradise Co Ltd and Japanese pachinko operator Sega Sammy Holdings. Paradise City was designed as a destination integrated resort targeting international visitors and transit passengers, and marked a significant expansion of Paradise's operations.

2020-2021 — COVID-19 Impact

The COVID-19 pandemic severely impacted Paradise Co Ltd, with international tourism to South Korea largely halted. The company adapted by focusing on domestic visitors (where permitted) and implementing extensive health and safety protocols. The pandemic highlighted the dependence of South Korean foreigner-only casinos on international tourism.

2022-2024 — Recovery & Expansion

Paradise Co Ltd benefited from the recovery of international tourism post-COVID-19, particularly with the return of Japanese and Chinese visitors. The company continued to invest in Paradise City and its other properties, and expanded its focus to Southeast Asian and other international visitors to diversify its customer base.

Paradise Co Ltd is committed to responsible gambling under the regulatory oversight of the Korean Ministry of Culture, Sports and Tourism (MCST), with comprehensive player protection measures and strict compliance with South Korea's casino regulations.

Regulatory Compliance

Paradise operates under licenses from the Korean Ministry of Culture, Sports and Tourism (MCST) under the Tourism Promotion Act. South Korea's casino industry is unique in that domestic casinos are restricted to foreign passport holders only (with the sole exception of Kangwon Land). Paradise is required to verify foreign passport/ID at entry and enforce the foreigner-only restriction.

Player Protection Measures

• Age Verification: Strict 19+ age verification (South Korean legal gambling age) at entry to all Paradise casinos. Only foreign passport holders are permitted entry (except at Kangwon Land).
• Passport/ID Verification: All patrons must present a foreign passport or foreign registration card for entry, to verify foreigner status. South Korean citizens are prohibited from entering domestic casinos (except Kangwon Land).
• Self-Exclusion: Players can voluntarily exclude themselves from Paradise casinos. South Korea also operates government-run self-exclusion programs for foreign nationals.
• Staff Training: All customer-facing staff complete responsible gambling training, including identification of problem gambling behavior and intervention procedures.
• Information Resources: Responsible gambling information is displayed prominently throughout Paradise properties, with contact details for problem gambling support services.

Anti-Money Laundering (AML) Compliance

Paradise implements AML and KYC procedures in compliance with South Korean regulations and international standards. The company conducts customer due diligence, transaction monitoring, and suspicious activity reporting. South Korea's AML regulations are enforced by the Korea Financial Intelligence Unit (KoFIU), and Paradise is required to comply with all AML/KYC obligations.

Foreigner-Only Casino Restriction

Paradise operates under South Korea's foreigner-only casino restriction, which prohibits South Korean citizens from entering domestic casinos (with the sole exception of Kangwon Land). Paradise is required to verify foreign passport/ID at entry and enforce the restriction. The restriction is a key feature of South Korea's casino regulatory framework and is strictly enforced.