Korean foreigner-only casino operator Paradise Co saw casino revenue increase 11.8% month-on-month to KRW19.02 billion (US$15.6 million) in March. However, the figure represented a 15.8% decline on the KRW22.60 billion (US$18.6 million) in revenue reported in March 2021.
In details filed with the Korea Exchange earlier this week, Paradise’s March 2022 figures included a 10.4% sequential increase in table game revenue to KRW16.90 billion (US$13.9 million) and a 24.8% increase in machine revenue to KRW2.12 billion (US$1.7 million).
Table drop in March was 23.7% higher than in February at KRW130.38 billion (US$107.1 million).
For the first three months of 2022 combined, casino revenue is down 20.4% year-on-year to KRW54.17 billion (US$44.5 million) with table drop down 4.8% to KRW359.12 billion (US$295.0 million).
Although the March numbers remain subdued, Paradise Co – which operates Paradise Walkerhill in Seoul, Jeju Grand, Busan Casino Paradise and Paradise City in Incheon – will be hoping for significant improvement over the coming months after authorities lifted a seven-day mandatory quarantine requirement for vaccinated international tourists, starting from 1 April 2022.