Paradise confirms interest in Maison Glad Jeju but has not decided to buy
South Korean operator says it will update markets within a month if terms are settled
Key Takeaways
- Paradise Co Ltd confirmed on 9 November 2026 that it is considering participation in a possible acquisition of Maison Glad Jeju but has made no decision.
- Maison Glad Jeju has about 510 rooms and was extensively refurbished in 2019.
- The hotel was valued at approximately KRW605 billion (US$405.3 million) in 2024 discussions, according to brokerage comments in May 2026.
- Paradise is working with Koramco Asset Management and the parties had targeted completing a deal before the end of 2026.
- In January 2026 Paradise acquired the West Wing of the Grand Hyatt Incheon for KRW210.0 billion, increasing Paradise City's capacity to 1,270 rooms.
Paradise Co Ltd confirmed on 9 November 2026 that it is evaluating participating in an investment tied to the possible acquisition of Maison Glad Jeju and that no decision has been made on purchasing the property or on the terms of any deal. The company issued the statement in a regulatory filing after a note by the newspaper Asia Today about DL Group's difficulties selling its Glad assets.
What Paradise has said
Paradise Co Ltd said it will make a further disclosure once specific details are decided, or within one month of the notice. The interest in Maison Glad Jeju was previously flagged by brokerage KB Securities in May 2026, which said an investment in the hotel could generate synergies with Paradise's existing [casino operations](/casino) on Jeju Island.
Assets and cited figures
Maison Glad Jeju has approximately 510 rooms and underwent a major refurbishment in 2019. The property is about a 15‑minute drive from Paradise Casino Jeju, the foreigner-only casino operated by Paradise Co; the report links the proximity to potential synergies.
In earlier acquisition discussions in 2024, the hotel was valued at about KRW605 billion (US$405.3 million), according to the brokerage's May comment. The Bell reported in September that Paradise Group and DL Group extended a memorandum of understanding signed in April while negotiations continued on price and other terms.
Partners and target timetable
Paradise Co is working with Koramco Asset Management on the potential transaction and, according to published information, the parties were aiming to complete the deal before the end of 2026. Paradise operates four foreigner-only casinos in South Korea: Paradise Casino Jeju, Paradise Walkerhill Casino in Seoul, Paradise Casino Busan and the casino at Paradise City in Incheon.
The company has also expanded its hotel capacity in Incheon. In January 2026 it completed the [acquisition](/b2b) for KRW210.0 billion of the West Wing of the Grand Hyatt Incheon, adjacent to its Paradise City complex, in partnership with Japan's Sega Sammy Holdings Inc. The purchase, renamed Hyatt Regency Incheon Paradise City, increased Paradise City's room supply by 65.1%, to 1,270 rooms.
Frequently Asked Questions
Has Paradise made a final decision to buy Maison Glad Jeju?
No. Paradise Co Ltd stated that no decision has been taken regarding the acquisition or the terms of a potential transaction and that it will make a further disclosure when there are specific details or within one month.
What prior valuation has been cited for Maison Glad Jeju?
Discussions in 2024 cited a valuation of about KRW605 billion, equivalent to US$405.3 million according to the brokerage's comment in May 2026.
What strategic relationship would Maison Glad Jeju have with Paradise's operations?
KB Securities noted in May 2026 that an investment in Maison Glad Jeju could create synergies with Paradise's casinos on Jeju because the hotel is roughly a 15‑minute drive from Paradise Casino Jeju.
Who are the partners and what is the expected timetable for the transaction?
Paradise Co was working with Koramco Asset Management on the potential deal, and reports indicated the parties aimed to complete the transaction before the end of 2026.
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About the author
Gonzalo Marín
Industry Deals Correspondent
Gonzalo Marín covers the corporate deal flow of gambling — operator strategy, M&A, regulated-market entries, and product launches. The reports open with the transaction, cite companies, valuations, and jurisdictions exactly as released, and keep the announcement apart from its actual effect. When a Latin American operator raises capital or a European brand lands in the region, Gonzalo Marín reports who signs, for how much, and on what terms.
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