Upfront Investment and Expertise Accumulation for the Integrated Resort Business
First written in FY2016. 21 of 29 entries say "Advanced", first in FY2017-Q2. Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026AdvancedAnnual report
「Net sales and profit at every stage for January to December 2025 reached their highest levels since opening.」
At Paradise City in South Korea, net sales and profit at every stage reached their highest levels since opening, indicating progress in know-how accumulation and profit contribution through integrated resort operations. - 2026-05-12Cited as achievedFinancial results presentation
「Share of profit from equity-method investments (¥ billions)」
Paradise Segasammy's share of profit from equity-method investments increased from ¥2.9 billion in FY2025/3 to ¥4.5 billion in FY2026/3. Paradise City's full-year FY2026/3 EBITDA was KRW 138.3 billion, exceeding KRW 116.4 billion in FY2025/3. - FY2025ReframedAnnual report
「As a result, from the fiscal year ending March 2023, the Company achieved record-high net sales for the second consecutive fiscal year since the Group's involvement, as well as a return to operating profitability. It established its presence as one of Japan's leading integrated resort facilities and restored profitability.」
After achieving a return to profitability and restoring earnings at Seagaia, the Company shifted to a policy of welcoming Fortress, a hotel and resort operator, as its strategic partner. - FY2024ReframedAnnual report
「At a meeting of the Board of Directors dated 10 May 2024, the Company resolved to transfer all shares of its consolidated subsidiary Phoenix Resort Co., Ltd. to Yugao Godo Kaisha, an affiliate of Fortress Investment Group LLC. The transfer was completed on 31 May 2024.」
All common shares of Phoenix Resort, which operates Seagaia, were sold, and the hotel and resort operator was transferred to a strategic partner. The Company retains 20% of the preferred shares. - FY2024AdvancedAnnual report
「Overseas, at Paradise City operated by PARADISE SEGASAMMY Co., Ltd., an equity-method affiliate of the Company, casino drop by Japanese VIP guests exceeded pre-pandemic levels and hotel occupancy remained high. As a result, operating income and EBITDA reached record highs. The equity-method investment also made its first-ever profit contribution since the resort opened.」
Operating income and EBITDA at Paradise City in South Korea reached record highs, and the equity-method investment made a profit contribution for the first time since opening. - FY2024-Q3AdvancedAnnual report
「In the resort business, at Phoenix Seagaia Resort, the number of individual visitors remained below expectations due to the resumption of outbound travel and the effect of higher-priced sales, but corporate events and large-scale MICE events were held, and recovery in group customers, whose numbers had remained subdued during the pandemic, progressed.」
Seagaia held corporate events and large-scale MICE events, supporting the recovery in group customers, whose numbers had been subdued. The resort business posted ordinary income of ¥705 million, turning profitable from an ordinary loss of ¥2,806 million in the same period of the previous year. - FY2024-Q2AdvancedAnnual report
「In the resort business, at Phoenix Seagaia Resort, government measures and the Company's own initiatives to stimulate tourism demand contributed to performance, individual customers remained firm, and large-scale MICE events, including international conferences and corporate events, were held. Recovery in group customers, whose numbers had remained subdued during the pandemic, progressed.」
Seagaia held large-scale MICE events, supporting the recovery in group customers, whose numbers had been subdued. The resort business posted ordinary income of ¥249 million, turning profitable from an ordinary loss of ¥2,392 million in the same period of the previous year. - FY2024-Q1AdvancedAnnual report
「Overseas, at Paradise City operated by PARADISE SEGASAMMY Co., Ltd., an equity-method affiliate of the Company, casino revenue continued to show signs of recovery, with drop by Japanese VIP guests remaining above pre-pandemic levels.」
At Paradise City in South Korea, drop by Japanese VIP guests remained above pre-pandemic levels, and casino revenue continued to recover. - FY2023AdvancedAnnual report
「Overseas, at Paradise City operated by PARADISE SEGASAMMY Co., Ltd., an equity-method affiliate of the Company, casino revenue gradually began to recover as travel restrictions were eased from June 2022. From October 2022, drop by Japanese VIP guests recovered rapidly to levels above those before the spread of COVID-19.」
At the overseas integrated resort, casino revenue recovered after travel restrictions were eased, and from October 2022, drop by Japanese VIP guests reached levels above those before the spread of COVID-19. - FY2023-Q3Update on overseas integrated resort performanceAnnual report
「Overseas, at Paradise City operated by PARADISE SEGASAMMY Co., Ltd., an equity-method affiliate of the Company, performance remained subdued due in part to travel restrictions imposed by various countries following the spread of COVID-19. From January to September 2022, drop, or chip purchases, were 26.3% of the level in January to September 2019, before the pandemic, and casino visitor numbers were 31.8% of that level. Meanwhile, drop by Japanese VIP guests began to recover after some travel restrictions were eased from June 2022, and from October onward remained above pre-pandemic levels.」
Operations at Paradise City in South Korea continued to be disclosed after the discontinuation of participation in the Yokohama integrated resort project. Overall performance remained subdued due to travel restrictions, but drop by Japanese VIP guests recovered to above pre-pandemic levels from October onward. - FY2022-Q2DroppedAnnual report
「The Company formed a consortium and applied in June 2021 for Yokohama City's solicitation for a prospective operator of a specified integrated resort facility. However, after Yokohama City decided to cancel the solicitation in September 2021, the Company was forced to discontinue its participation in the integrated resort business in Yokohama.」
Regarding Yokohama City's integrated resort project, Yokohama City cancelled the solicitation after the consortium had been formed and an application had been submitted, resulting in the discontinuation of participation in the project. - FY2022-Q1AdvancedAnnual report
「As announced on 11 June 2021, the Company formed a consortium with Genting Singapore Limited and four other companies, and submitted a proposal in response to Yokohama City's solicitation for a prospective operator of a specified integrated resort facility. The proposal was accepted.」
Regarding the Yokohama integrated resort project, the consortium with Genting Singapore Limited and other parties progressed through submission and acceptance of a proposal in response to the solicitation for a prospective facility operator. - FY2021RaisedAnnual report
「Overseas, we are working to acquire know-how in integrated resort development and operations through Paradise City, with the aim of participating in an integrated resort project in Yokohama.」
In addition to accumulating know-how toward realizing an integrated resort business in Japan, the Company identified participation in the Yokohama integrated resort project as a specific target. - FY2021-Q3AdvancedAnnual report
「In January 2021, some local governments began issuing RFPs (Requests for Proposal) to solicit integrated resort operators.」
For the domestic integrated resort business, local governments began soliciting integrated resort operators, moving from institutional development to the concrete stage of selecting operators. - FY2021-Q2AdvancedAnnual report
「The enforcement orders and other regulations related to the Act on Development of Specified Integrated Resort Districts came into force sequentially from April 2019. The Casino Regulatory Commission was established in January 2020, the government published a draft basic policy in October 2020, and the application period for certification of integrated resort district development plans was revised.」
For the domestic integrated resort business, institutional progress included the establishment of the Casino Regulatory Commission, publication of the government's draft basic policy and revision of the application period for certification. - FY2020-Q3AdvancedAnnual report
「In the resort business, Phoenix Seagaia Resort implemented accommodation plans and other initiatives focused on the Kyushu region, and visitor numbers remained firm, reaching 8.2% of the same period of the previous year. Meanwhile, costs related to entering the integrated resort business in Japan increased.」
Accommodation plans and other customer-attraction initiatives resulted in Seagaia visitor numbers reaching 8.2% of the same period of the previous year, while higher costs related to entering the integrated resort business in Japan resulted in a resort business operating loss of ¥2,310 million. - FY2020-Q2AdvancedAnnual report
「In the resort business, Phoenix Seagaia Resort implemented various summer vacation customer-attraction initiatives, and visitor numbers remained firm, increasing 8.6% year on year. Meanwhile, costs related to entering the integrated resort business in Japan increased.」
Seagaia implemented summer vacation customer-attraction initiatives, resulting in an 8.6% year-on-year increase in visitors. Costs related to entering the integrated resort business in Japan increased, and the resort business operating loss widened from ¥1,177 million to ¥1,587 million. - FY2020-Q1AdvancedAnnual report
「In the resort business, visitor numbers at Phoenix Seagaia Resort remained firm and increased 12.5% year on year. Meanwhile, costs related to entering the integrated resort business in Japan increased.」
Visitor numbers at Seagaia increased 12.5% year on year, indicating progress in domestic resort operations, while the resort business posted an operating loss of ¥859 million due to higher costs related to entering the integrated resort business in Japan. - FY2019AdvancedAnnual report
「In the resort business, accommodation demand at Phoenix Seagaia Resort remained firm, and visitor numbers increased 33.8% from the previous fiscal year.」
Visitor numbers at Seagaia increased 33.8% from the previous fiscal year, indicating progress in customer attraction and know-how accumulation through domestic resort operations. - FY2019-Q3AdvancedAnnual report
「In the resort business, visitor numbers at Phoenix Seagaia Resort, one of Japan's leading resorts, increased 35.4% year on year due to the effects of the large-scale renovation, customer-attraction initiatives such as illuminations, and related promotional activities conducted mainly in the Kyushu region.」
Seagaia carried out a large-scale renovation, illumination events and promotional activities focused on the Kyushu region, resulting in a 35.4% year-on-year increase in visitors. - FY2019-Q2AdvancedAnnual report
「Overseas, PARADISE SEGASAMMY Co., Ltd., a joint venture with Paradise Co., Ltd. and an equity-method affiliate of the Company, opened the second development of Phase 1, including a club, spa and shopping mall, at Paradise City, Korea's first integrated resort, on 21 September 2018. Indoor family entertainment facility Wonderbox was scheduled to open in the first half of 2019.」
The second development of Phase 1 at Paradise City in South Korea opened on 21 September 2018, and the additional facility Wonderbox was scheduled to open in the first half of 2019. Visitor numbers at Seagaia in Japan increased 41.2% year on year, and the resort business loss also narrowed. - FY2019-Q1AdvancedAnnual report
「In the resort business, visitor numbers at Phoenix Seagaia Resort, one of Japan's leading resorts, increased 33.3% year on year due to various initiatives leveraging the effects of the large-scale renovation and an increase in Seagaia Premium Members Club membership. Although upfront costs were incurred toward the full-scale development of the integrated resort business, the loss narrowed year on year. Overseas, Paradise City, Korea's first integrated resort operated by PARADISE SEGASAMMY Co., Ltd., a joint venture with Paradise Co., Ltd. and an equity-method affiliate of the Company, was used by many guests, particularly from Japan, and profitability has gradually been improving.」
Visitor numbers at Seagaia increased 33.3% year on year due to renovation initiatives and other measures, while the resort business loss narrowed. Profitability at Paradise City in South Korea was on an improving trend. - FY2018RaisedAnnual report
「The resort business, positioned as a growth business, is accumulating know-how through the development and operation of resort facilities in Japan and integrated resort facilities overseas, and is accelerating upfront investment toward the future realization of an integrated resort business in Japan.」
The Company has stated its policy of accelerating upfront investment toward the realization of an integrated resort business in Japan. - FY2018-Q3AdvancedAnnual report
「In the resort business, Phoenix Seagaia Resort, one of Japan's leading resorts, opened The Living Garden: Forest Area and implemented various customer-attraction plans, resulting in a 9% year-on-year increase in visitors.」
Seagaia opened a new area and implemented customer-attraction plans, resulting in a 9% year-on-year increase in visitors. However, upfront costs related to the full-scale development of the integrated resort business widened the resort business loss. - FY2018-Q2AdvancedAnnual report
「In the resort business, Phoenix Seagaia Resort, one of Japan's leading resorts, implemented summer vacation customer-attraction initiatives, and the number of visitors increased 14% year on year, supported by strong attendance from individual hotel guests. The business nevertheless recorded lower sales because, in the previous fiscal year, it sold part of its stake in a company developing and operating an indoor theme park business. Overseas, PARADISE SEGASAMMY Co., Ltd., a joint venture with Paradise Co., Ltd. and an equity-method affiliate of the Company, opened Paradise City, Korea's first integrated resort, in April 2017. The resort has been visited by many guests from Japan, South Korea and elsewhere.」
Seagaia implemented summer vacation customer-attraction initiatives, resulting in a 14% year-on-year increase in visitors, while Paradise City in South Korea has been attracting visitors since its opening. - FY2018-Q1AdvancedAnnual report
「In the resort business, PARADISE SEGASAMMY Co., Ltd., a joint venture between Paradise Co., Ltd. and the Company and an equity-method affiliate of the Company, opened Paradise City in Incheon, South Korea, on 20 April 2017. It is Korea's first integrated resort and was developed to provide facilities that people of all generations can enjoy. At Phoenix Seagaia Resort, one of Japan's leading resorts, the effects of the large-scale renovation carried out in the previous fiscal year, together with plans targeting customers from nearby areas, resulted in a 28% increase in visitors from the same period of the previous year, which had been affected by the 2016 Kumamoto Earthquake.」
Paradise City in Incheon, South Korea, opened on 20 April 2017, while visitor numbers at Seagaia in Japan increased 28% year on year. Concrete progress was made both in integrated resort development and domestic facility operations. - FY2017-Q3AdvancedAnnual report
「In October 2016, the bridal banquet room La Tierra opened and contributed to an increase in the number of weddings, although depreciation and other expenses increased in connection with various renovation projects. At Orbi Yokohama, a museum offering an immersive experience of the natural world, customer-attraction initiatives were conducted during the Halloween and Christmas periods, increasing visitor numbers.」
A new bridal facility opened at the domestic resort, and seasonal events and other customer-attraction initiatives were held at existing facilities. - FY2017-Q2AdvancedAnnual report
「At Phoenix Seagaia Resort, one of Japan's leading resorts, guest rooms at Sheraton Grande Ocean Resort were renovated in August, and Windy Terrace and Jikka Kurogi, new facilities exclusively for hotel guests focusing on public spaces, were established. The resort reopened as the New Seagaia. During the summer vacation period, customer-attraction initiatives included weekend fireworks and night markets, as well as tours to learn about sea turtle ecology and hospitality experiences offering children hands-on exposure to different occupations.」
At the domestic resort, guest rooms were renovated, new facilities were established and events were held, and the resort reopened as the New Seagaia. - FY2016First statedAnnual report
「In preparation for the future full-scale development of the integrated resort business, we consider it a management priority to optimize the allocation of management resources and make upfront investments while accumulating know-how through the development and operation of resort facilities in Japan and integrated resorts overseas.」
Domestic facilities and overseas integrated resorts are being developed and operated as upfront investments and learning opportunities ahead of the future full-scale development of the integrated resort business in Japan.