Paradise City Reopens Art Paradiso Hotel July 15: Operator

The Art Paradiso Boutique Hotel (pictured) in Paradise City, a casino resort near Incheon International Airport, will reopen on July 15, it said Wednesday.

The closure of the hotel was announced in June 2020, and has been in effect since July of that year. The closure was described as temporary at the time, and it was linked to the Korean government's efforts to reduce the local spread of COVID-19.

Paradise City is a joint venture between Paradise, a foreign-only casino operator close to South Korea's main aviation hub serving the capital, Seoul, and Japanese group Sega Sammy Holdings Inc.

The reopening date of Art Paradiso has been confirmed by Paradise Co.

Paradise City launched in April 2017 as a 711-room hotel with casinos, convention halls, and Hotel Paradise, which were open only to foreigners. The 58-room Art Paradise was part of the second phase of the project and opened in September 2018.

Paradise City's first-quarter revenue was slightly above 91.26 billion won, down 9.5% quarter-on-quarter. Revenue doubled year-on-year, according to data from Paradise's first-quarter earnings release on Wednesday.

Consolidated resort casino revenue fell 11.8% quarter-on-quarter to 63.4 billion won in the January-March period of 2023. It was up 178.5% year-on-year.

During the period, hotel sales fell 3.3% sequentially to W23.27 billion. Compared to the same period last year, sales increased 16.2% in early 2023.

Paradise City reported a net profit of 2.66 billion won in the first quarter. This is down from 3.52 billion won in net profit recorded in the past three months, but an improvement from 17.63 billion won in the first quarter of last year.

BY: 온라인카지노