Paradise Co Ltd, an operator in South Korea of foreigner-only gaming venues, reported casino revenue of just above KRW744,15 billion (US$567.8 million) for full-year 2023, up 112.8 percent from the previous year, according to a Tuesday filing to the Korea Exchange.
Table game revenue was approximately KR696.70 billion, 118.8-percent higher from a year ago. Machine game revenue in calendar 2023 was KRW47.45 billion, up 51.9 percent from 2022.
For the month of December, Paradise Co recorded casino revenue of nearly KRW64.60 billion, a sequential increase of 17.9 percent, and up 37.9 percent from a year ago.
The December table game revenue tally was up 37.1 percent from a year ago, and 19.6 percent month-on-month, to KRW60.14 billion. Machine game revenue for December was KRW4.45 billion, up 49.2 percent from a year earlier, but slightly down from November.
No commentary on the reasons for revenue fluctuations is given in the company’s monthly updates.
December’s table drop – the amount of cash exchanged by customers for chips at gaming tables – rose by 6.6 percent sequentially, to KRW581.53 billion. Such drop was up 24.3 percent year-on-year.
For full-year 2023, Paradise Co’s table drop was just above KRW6.17 trillion, a rise of 114.2 percent year-on-year.
Paradise Co’s latest casino figures are based on the results of four venues it operates in its casino business division. They are: Walkerhill in Seoul; Jeju Grand on Jeju Island; Busan Casino in the southern port city of Busan; and Paradise City, in Incheon, near the main international airport serving the country’s capital Seoul.
