South Korean foreigner-only casino operator Paradise Co reported casino sales of KRW22.36 billion in October, down 72.2% year-on-year but 9.0% better off than September.
The results included a 73.4% decline in table game sales to KRW20.41 billion (US$18.0 million) and 50.4% fall in slot machine sales to KRW1.80 billion (US$1.6 million), with global border closures as a result of COVID-19 continuing to hurt the company’s access to foreign customers.
Local expats have previously been credited for bringing in a small but steady stream of business to its four casinos – Paradise City, Paradise Walkerhill, Busan Casino and Jeju Grand. All four briefly closed in late March with Jeju Grand reopening on 13 April and the remaining three on 20 April.
Paradise City, the company’s integrated resort project in Incheon, also closed its doors in early September after some staff members tested positive to COVID-19, although the casino and some non-gaming amenities were open again within days.
While casino sales grew in October compared with the previous month, table drop actually fell by 7.7% to KRW125.54 billion (US$110.6 million) suggesting good luck played its part in the providing a sequential increase.
Through the first 10 months of 2020, Paradise Co’s casino sales are down 56.3% to KRW283.30 billion (US$249.7 million).