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Korea’s Paradise Co books strong casino revenue growth in September

Thursday, 12 October 2017 05:38
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Korea’s leading foreigner-only casino operator, Paradise Co, has reported a 34.1% year-on-year increase and 3.4% sequential increase in casino revenue for September. 

In a Wednesday filing to the Korea Exchange, Paradise reported revenue of KRW54.7 billion (US$48.3 million), up from KRW40.8 billion (US$36 million) in September 2016 and KRW52.9 billion last month. Table drop was up 18.5% for the month year-on-year to KRW461.7 billion (US$407.9 million).

The revenue growth came exclusively from table games, which registered a 37.9% year-on-year increase and 6.6% sequential increase to KRW52.1 billion, comprising 95.2% of total casino revenue. Machine revenue fell 13.3% year-on-year and 35.3% sequentially.

Revenue for the nine months to 30 September was down 11.9% year-on-year to KRW398.8 billion (US$352.2 million), however table drop over the period increased by 3.6%.

The preliminary figures are based on the casino business division of Paradise Co’s four foreigner-only properties – Walker-Hill, Jeju Grand, Busan and Incheon Paradise City, Korea’s first integrated resort which opened in April.

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