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Paradise Co continues to slide with February casino sales down 36.5% sequentially

Newsdesk by Newsdesk
Wed 3 Mar 2021 at 18:19
Korea’s Paradise Co continues upward momentum in February
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South Korean foreigner-only casino operator Paradise Co continues to face headwinds with February 2021 casino sales falling 36.5% compared with January to KRW17.38 billion (US$15.5 million).

The sequential decline follows a previous fall of 36.2% between December and January as South Korea’s casinos struggle against the absence of international visitation due to the COVID-19 pandemic.

February’s figure represents a 72.9% decline on February 2020, when Paradise recorded casino sales of KRW64.10 billion (US$57.1 million). Sales for the first two months of 2021 combined are down 67.0% year-on-year to KRW44.75 billion (US$39.9 million).

Table drop in January and February is also down 74.6% year-on-year to KRW242.29 billion (US$215.9 million), although February drop was down only 6.2% versus January to KRW119.06 billion (US$106.1 million).

Paradise Co operates four casinos nationwide: Paradise Walkerhill, Busan Casino, Jeju Grand and integrated resort Paradise City in Incheon.

The company recently reported a loss of KRW109.85 billion (US$98.4 million) in 2020.

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The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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