Sands Casino Open
After the successful opening of the Olimpus in Incheon and the Walkerhill Hotel in Seoul, Chairman Lee Ha-won started to expand his presence outside the company.
To pave the way for the first Sands casino business in Korea, Jeon founded Kangwon Land Casino Investment and Development on July 27, 1972. This is the start of the Paradise Group.
The office was set up on the 16th floor of the center building in central Seoul and prepared for the foundation of global companies.
At that time, the purpose of the Paradise investment development was limited to tourism-related industries, such as tourism-to-earth goods sales, security and livestock industries, and delivery.
fall under these circumstances Investment & Development Co. was asked to operate the Casino Site at the Haeundae Tourism Hotel in Busan, but it was not able to miss the opportunity from Casino Perfector.
Paradise Investment and Development
Also, Paradise Investment and Development will land on Jeju Island. The former chairman had already been linked with his support for the opening of the Seogwipo Hotel casino, the first tourist hotel in Jeju since the successful opening of the Walkerhill Sands casino.
Seogwipo Hotel on Jeju Island, which was put into Sands casino business by the former chairman of Absohm Site, offered to buy the hotel to the former chairman as he was in serious trouble due to then-management problems.
After Seogwipo Hotel, the Jeju Hotel located in Jeju City and the Honeymoon House, which was used by President Syngman Rhee in the 1950s, were considered the best management experts in the hotel industry.
As such, Jeon took over three hotels in Jeju — Seogwipo Hotel, Jeju Hotel and Honeymoon House.
Meanwhile, the popular Walkerhill Hotel and Casino Site will undergo the October Restoration in 1972, changing their fortunes.
At that time, the government ordered the sale of the hotel by the state-run Korea Tourism Organization on the pretext of recognizing the tourism industry as a high value-added industry and carrying out a major overhaul.
In reality, however, the tourism corporation’s hotel business was a “foreign currency guest” and private sales were natural because Walkerhill, Peninsular Hotel and Guesthouse located at the heart of Seoul were all suffering deficits.
The Seoul Bando Hotel was taken over by Lotte Group, while the guesthouse was sold to Samsung Group. In particular, as the Walkerhill Hotel was occupied by Seongyeong, many politicians and business circles viewed it as preferential treatment.
Walkerhil Hotel Acquired
At that time, it was analyzed that Chairman Choi Jong-gun of Seonkyung Group acquired Walkerhill Hotel and ( Kangwon Land Casino ) Sands Casino, which lay golden eggs, from Seonkyung Development, affiliated with Seonkyung Group, due to his in-laws’ relationship with Lee Hu-rak, director of the Central Intelligence Agency.
Lee Dong-wook, the fifth son of Lee Hu-rak, married Choi Ye-jung, the fourth daughter of Choi Jong-gun.
Walkerhill was famous for its first theater-style shows and modern nightclubs in Korea, and was the nation’s top hotel with indoor swimming pools, receiving media spotlights from time to time by holding fashion shows.
On March 6, 1973, Walkerhill was privatized, but Seonkyung Development was a novice at the casinos site. Walkerhill Casino Site runs naturally.Ice will take over.
However, Yoo Hwa-yeol, CEO of Olim Force Hotel in Incheon, claimed that he failed to buy the Walkerhill Hotel and Sands Casino after losing out to the Power Game.
I was a little short of money, but I tried to take over Walkerhill. At that time, Kim Sung-gon, chairman of the Republican Party’s finance committee, recommended that Walkerhill be yours, so he decided to take over.
However, the presidential secretary for tourism failed to report Seon-gyeong’s plan to the president two days earlier than I did.
After Walkerhill was transferred to the police line, he had a two-month dispute with the police over the right to operate the Woori Casino. The police asked Lee Hu-rak, head of the Central Intelligence Agency, and asked Lee to help with the operation rights of the Walkerhill casino.
Lee was close to President Park Chung-hee as he frequently visited Olimpus in Incheon.
Lee, who is troubled in the middle, said, “You have to agree among yourselves.” After a while, I was hospitalized at Seoul National University Hospital, and Choi Jong-hyun, the president of the association, came to see me and accepted me because he didn’t want to fight with Jeon Rak-won about half of the shares.
After a year and a half later, when there was talk of the adjustment of the shares, he withdrew, saying, “I’d rather stay out than three of them.” He was well rewarded at the time. In the July 1993 issue of the Monthly Chosun, “Exclusive Interview with Yoo Hwa Yeol”
Chairman Known as Casino Prophet
To Chairman Lee Ha-won, who was known as the “Casino Prophet” at the time, the Seonkyung Group asked him to managements It is said that the company promised to give a certain portion of its total earnings while consigning it to Ease.
East-West culture sadly went into a tentative recess after it published its New Year’s issue in December 1973, its third year of publication As the Paradise investment plan took over the management of the Walkerhill Hotel’s Sands Casino, it was inevitable to raise the budget due to high demand for funds. In the 30th year of Kangwon Land Casino Group.
However, it is not free to take control of the Sands Casino, so Jeon allegedly paid a considerable amount of money to the police and took over the casino site. be destroyed for this reason Due to financial difficulties in Absohm Site, it was forced to stop issuing the book “East-West Culture” (which was launched by Jeon Rak-won in September 1970).
However, although it is known that Seonkyung took over Walkerhill Hotel and Walkerhill Casino Site was acquired by Chairman Ha Ji-won, the owner of Walkerhill Casino Site was also known to have owned the actual owner of the Walker Hill casino at Seonkyung.
The truth about this was the very secret that only Chairman Lee Ha-won and senior officers of the police officers knew about it.
He decided to share a certain portion of casino profits with Chairman Ha Ji-won, who is known to be a visionary of the local casino industry, and left management in charge.
Of course, accounting and general management were taken care of by Seongyeong, but the casino’s general management and management were headed by Chairman Lee Ha-won,” he said.
In 1975, the number of Walkerhill casino operators rose to about 400. By 1978, the area of the new hotel had been expanded to about 600 pyeong in accordance with the opening of the new building
The number of Kangwon Land Casino operations staff also increased to about 500, and the number of game consoles increased sharply to 49 (Rulet 8, Blackjack 28, Daisai 2, 2, Poker 2, Baccara 6, Kino) in October 1977.