Paradise Co Ltd, an operator in South Korea of foreigner-only gaming venues, reported casino sales of nearly KRW89.51 billion (US$60.8 million) in February, a 24.4-percent increase from a year ago.
Judged sequentially, such sales fell 2.4 percent, the firm stated in a Wednesday filing to the Korea Exchange.
Paradise Co’s table-game sales last month were KRW84.98 billion, up 25.5 percent from the prior-year period, but a 2.0-percent decline from January.
Machine-game sales in February rose 6.2 percent year-on-year to about KRW4.53 billion. That tally was however down 9.0 percent sequentially.
The February “table drop” – the amount paid by patrons to purchase gaming chips – amounted to KRW535.59 billion, up 1.9 percent from a year earlier, but 15.3-percent lower than in January.
The company’s operations include Paradise City (pictured in a file photo) at Incheon, a casino resort jointly run with Japanese entertainment conglomerate Sega Sammy Holdings Inc.
Paradise Co also operates gaming facilities at Walkerhill in Seoul, in the southern port city of Busan, and on the semi-autonomous holiday island of Jeju.
Revenue from operations at Paradise City amounted to KRW40.03 billion, up 5.0 percent year-on-year. That was the largest individual contribution to group-wide casino sales in the reporting period, according to the firm’s supplementary data.
The Paradise City complex is poised to see its hotel-room inventory jump by 65.1 percent this spring, via acquisition of nearby hotel space rebranded as “Hyatt Regency Incheon Paradise City”.
