South Korea’s leading foreigner-only casino operator Paradise Co reported casino revenue of KRW14.82 billion (US$13.2 million) in April, down 34.4% compared to March.
April’s revenue figure was 86.3% higher than the KRW7.96 billion (US$7.1 million) Paradise reported in April 2020 when it was first forced to close its casinos to halt the initial spread of COVID-19, however the impact of the pandemic continues to have a material impact on the company’s bottom line.
For the first four months of 2021 combined, casino revenue is down 48.9% year-on-year to KRW82.89 billion (US$74.0 million) and table drop down 55.5% to KRW542.98 billion (US$484.4 million).
One minor positive for Paradise is that April’s result was heavily impacted by bad luck, with table drop 22.6% higher than March and 191.6% higher than April 2020 at KRW165.63 billion (US$147.8 million).
Paradise Co operates four casinos in South Korea – Walkerhill in Seoul, Jeju Grand, Busan Casino and Incheon integrated resort Incheon Paradise City.
RelatedPosts
