[Special Stock] Paradise, Government Resumes Issuance of Short-Term Chinese Visas... Expectation of Increased VIP Casino Revenue↑

[Asia Economy Reporter Jang Hyowon] Paradise is showing strength. This is interpreted as the expectation of sales growth due to an increase in Chinese VIPs following the government's announcement to resume issuing short-term visas for travelers from China.

As of 9:46 AM on the 10th, Paradise is trading at 18,400 KRW, up 2.28% compared to the previous day.

On this day, the government announced that it considers the spread of COVID-19 in China to have passed its peak and entered a stabilization phase, and decided to resume issuing short-term visas for arrivals from China starting from the 11th.

The government will lift restrictions on issuing short-term visas for arrivals from China, while considering a phased relaxation of other quarantine measures for arrivals based on a comprehensive assessment of future conditions.

Within China, the government is currently allowing group overseas travel for its citizens. Accordingly, Chinese online travel agency Trip.com (Chinese name Xiecheng) has launched over 700 tour products to 15 major cities worldwide.

In the early phase of China’s easing of its zero-COVID policy, demand recovery is expected to be centered on general VIPs and mass customers rather than high rollers. Therefore, the company, which has strong capabilities to attract group tourists using its integrated resort, is expected to show a differentiated pace of recovery.

Namsoo Lee, a researcher at Kiwoom Securities, said, "Although macroeconomic uncertainties are increasing, casino VIP demand is expected to remain solid," adding, "The anticipated reopening of China is expected to create a virtuous cycle for integrated resorts by bringing both casino VIPs and mass tourists."