South Korea’s foreigner-only casino operator Paradise Co Ltd has reported record revenue and profit for FY2025, driven largely by the continued momentum at its flagship integrated resort, Paradise City.

The results underscore the strength of Korea’s VIP-led casino model as inbound tourism – particularly from China and Japan – continues to recover.

Paradise City: The Earnings Engine

Located adjacent to Incheon International Airport, Paradise City has become the group’s core profit driver. The property combines gaming, luxury hospitality, retail and entertainment, positioning it as a premium IR targeting foreign high rollers.

Multiple industry reports indicate:

• Strong VIP rolling chip turnover

• Improved mass-market footfall

• Higher non-gaming revenue contribution

The property’s performance reflects broader regional travel normalization and increased premium visitation ahead of key holiday periods such as Lunar New Year.

Record Financial Performance

Paradise Co’s 2025 figures show:

• All-time high consolidated revenue

• Record operating profit

• Margin expansion supported by operating leverage

Analysts point to disciplined cost management and higher VIP volumes as key contributors. The group has also benefited from improved air connectivity between Korea and major Chinese cities following gradual easing of travel restrictions.

Competitive Landscape in Korea

South Korea’s foreigner-only casino framework continues to differentiate it from open-market jurisdictions like Macau. Operators such as Paradise Co focus on attracting overseas players, particularly Chinese VIPs, Japanese premium players and Southeast Asian junket-driven business.

Recent sector reports suggest that inbound Chinese visitation has been a major uplift factor across Korea’s casino industry, strengthening Q4 and early 2026 outlook.

Strategic Outlook

For Asia gaming investors, Paradise Co’s results reinforce several themes:

1. VIP-led recovery remains intact

2. Integrated resort model supports diversified revenue streams

3. Proximity to air hubs is a competitive advantage

Paradise City’s performance positions Paradise Co as one of the strongest beneficiaries of North Asia’s tourism rebound.

Looking ahead, key watchpoints include:

• Sustainability of VIP rolling volumes

• China outbound travel policy stability

• Competitive pressure from Macau and emerging Southeast Asian markets

For now, Paradise City stands as the earnings anchor – proving that Korea’s premium-focused IR strategy can deliver record-breaking results in a recovery cycle.