Park Seo-joon rises to 70 billion ‘Jackpot’… Chinese ‘big hands’ are coming

After the endemic (endemic of infectious diseases), the casino industry is in the process of normalization. Following the resumption of Japanese visa-free tourism, there are signs of an influx of Chinese tourists, a ‘big deal’, and performance is clearly improving.

According to the industry on the 12th, Dream Tower Casino in Jeju Dream Tower Complex Resort recorded a profit for two consecutive months from April to May. Last year, Dream Tower Casino’s average monthly net sales stood at 3.6 billion won, but after the resumption of international flights at Jeju Airport, it showed an upward trend. As a result, the casino returned to the black 22 months after opening in April of this year (net sales of 9.96 billion won), and continued to be in the black in May.

Casino users and drop amount are also on the rise. Last month, the number of users exceeded 20,000 for the first time since opening with 21,866, and the drop amount exceeded 100 billion won for the first time. The drop amount last month was 113.7 billion won, four times the level of last May (28.5 billion won). An official from Lotte Tourism Development said, “The number of casino users, which was only 5,300 per month from January to May last year, settled at 10,000 as direct flights to Osaka, Taiwan, and Singapore resumed, and 20,000 per month after direct flights to China

Paradise, which operates foreigner-only casinos in Seoul, Incheon, Busan, and Jeju, is also showing clear earnings improvement. Paradise’ sales in May were 70.1 billion won, a 313.3% increase from last May. The drop amount during the period also increased by 331.3% to 525.5 billion won.

Among the business sites, sales growth in Seoul and Incheon stood out. It was tentatively tallied at 35.8 billion won and 28.4 billion won, up 429.2% and 248.8%, respectively. Japan’s Golden Week (April 29 -May 7) had a great influence. Analysts say that sales and drop amount surged as Japanese visitors to Korea flowed into the business sites in Seoul and Incheon.

Lee Seon-hwa , a researcher at KB Securities, diagnosed, “Due to Japan’s Golden Week, the number of visitors to Japan in May increased by 29.7 percent to 6,915먹튀검증, the highest level since August last year when visa-free entry was allowed.” “The Japanese VIP drop amount increased by 19.2% to 240.2 billion won. (Airline’s) Japanese routes have not fully recovered to the pre-COVID-19 level, but the Japanese VIP drop amount has consistently exceeded the monthly average in 2019. “he explained.

resumed in March. The big entry is certain,” he said.

In the aftermath of this improvement in business conditions, credit ratings also changed. Korea Investors Service changed Paradise’ unsecured bond rating outlook from ‘stable’ to ‘positive’ last month. Regarding Paradise, Han Shinpyeong analyzed, “The normalization of the business environment is accelerating due to the endemic transition. The recovery of sales and profit creation is expected to continue.” Paradise Group is preparing for endemic this year by appointing actor Park Seo-joon as a new promotional model for the Paradise brand. GKL

(Grand Korea Leisure) , which operates casinos in Seoul and Busan, also recorded good results last month, recording 25.3 billion won in casino sales, up 39% from last May. The drop amount was tentatively tallied at 287.6 billion won, up 107.4%.

The industry expects that casino users will show additional growth. This is because Chinese ‘big hands’, who are relatively slow to recover compared to Japanese VIPs , are expected to recover.

Ji In-hae, a researcher at Shinhan Investment & Securities, said, “Chinese VIPs are definitely improving. It is a common atmosphere in the industry that ‘Chinese VIPs ‘, who were many before Corona 19, are beginning to be seen.”

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