South Korean foreigner-only casino operator Paradise Co saw its casino revenue rise 14.6% year-on-year to KRW17.22 billion (US$13.7 million) in April, although the figure represented a 7.6% decline on the KRW18.64 billion (US$14.8 million) reported in March.
In details filed with the Korea Exchange earlier this week, Paradise’s April 2022 results included a 12.5% year-on-year increase in table game revenue to KRW14.90 billion (US$11.8 million) and a 30.2% increase in machine revenue to KRW2.32 billion (US$1.8 million).
However, table drop of KRW123.62 billion (US$98.0 million) in April was 25.4% lower than the same month last year and 5.2% lower than March.
The decline comes despite Korean authorities lifting a seven-day mandatory quarantine requirement for vaccinated international tourists from 1 April 2022, suggesting recovery may take some time to be realized by local tourism and leisure operators.
For the first four months of 2022 combined, casino revenue is down 14.6% year-on-year to KRW70.98 billion (US$56.2 million) with table drop down 11.1% to KRW482.74 billion (US$382.8 million).
Paradise Co operates Paradise Walkerhill in Seoul, Jeju Grand, Busan Casino Paradise and Paradise City in Incheon.
