Japanese pachinko operator Sega Sammy Holdings Incorporated has reportedly announced that the first half of next year will see it inaugurate the Wonderbox indoor family entertainment venue at its Paradise City integrated casino resort in South Korea.
According to a Friday report from GGRAsia, the Tokyo-headquartered conglomerate made the revelation as part of its half-year financial results (pdf) while explaining that its aggregate investment in the 10.6-acre scheme had increased to nearly $1.4 billion.
Located next door to Incheon International Airport, Paradise City is operated in partnership with Seoul-listed Paradise Company Limited and opened in April of 2017 as the first true integrated casino resort in South Korea. Sega Sammy Holdings Incorporated detailed that the Yeongjong Island facility debuted a club, spa and shopping mall at the end of September and has since begun ‘strengthening promotional activities targeting customers in Japan’.
Sega Sammy Holdings Incorporated’s statement read…
“The group will continue to endeavor to accumulate further integrated resort development and operational know-how through dispatching personnel to Paradise City.”
Resorts business improves:
In terms of its financial results for the six months to the end of September, Tokyo-listed Sega Sammy Holdings Incorporated stated that casino drop at Paradise City for the half-year period had reached approximately $182.79 million while net sales from its resorts business grew by almost 8.6% year-on-year to hit $45.74 million and push the vehicle’s overall comparable loss down by in excess of 9% to about $10.41 million.
However, Sega Sammy Holdings Incorporated reportedly declared that its overall half-year profit fell by 62.3% year-on-year to just over $59.46 million thanks in part to a 12.2% comparable drop in net sales to around $1.51 billion.