Paradise Co buys Grand Hyatt Incheon West Tower

The West Tower will add 501 rooms to the casino resort’s inventory.

South Korea.- Paradise SegaSammy, a subsidiary of South Korea’s foreigner-only casino operator Paradise Co, has announced the acquisition of the Grand Hyatt Incheon West Tower from KAL Hotel Network Co for KRW210bn (US$151m). The deal, set to close by October 31, 2025, is intended to strengthen Paradise Co’s position in the integrated resort market.

West Tower, located adjacent to the Paradise City casino resort in Incheon, will add 501 rooms to the resort’s existing 769-room inventory, bringing the total to 1,270 rooms. The deal allows Paradise Co to boost capacity without new construction.

Media reports suggest Paradise Co. is exploring a footbridge to connect the West Tower to Paradise City. Additionally, the company plans to introduce a “Smart Racing Park” with augmented reality features.

According to a filing with the Korea Stock Exchange, the acquisition represents 5.34 per cent of Paradise Co’s consolidated total assets, valued at KRW3.93tr ($2.82bn) as of late 2024. The move is part of Paradise Co’s broader “Value Up” plan, which includes a target of over 10 per cent annual revenue growth through 2027 and the development of a new US$400m hotel in Seoul’s Jangchung neighbourhood, set to open in 2028 with 200 VIP-focused suites.

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The West Tower will add 501 rooms to the casino resort’s inventory. South Korea.- Paradise SegaSammy, a subsidiary of South Korea’s foreigner-only casino operator Paradise Co, has announced the acquisition…