Jun 07, 2022 Newsdesk Latest News, Rest of Asia, Top of the deck  
May casino revenue at South Korea’s Paradise Co Ltd was flat judged month-on-month, but up 25.8 percent measured year-on-year.
Such revenue showed a marginal 0.8 percent sequential decline, at KRW17.09 billion (US$13.6 million) versus KRW17.23 billion in April, but an improvement on the KRW13.58 billion achieved in May 2021.
Paradise Co is in operator in South Korea of foreigner-only casinos. The group’s casino business division consists of the venues Walkerhill in Seoul; Paradise Jeju (pictured) on Jeju island; a property in the port city of Busan; and Paradise City at Incheon – the latter run via a venture with Japan’s Sega Sammy Holdings Inc.
For May this year, Paradise Co’s table game revenue was KRW14.93 billion, up 0.1 percent sequentially, and up 27.9 percent year-on-year, it said in a Tuesdsay filing to the Korea Exchange.
Machine game revenue was down 6.8 percent month-on-month, at KRW2.16 billion, but up 13.1 percent from the same period in 2021.
For the first five months of 2022, group casino revenue was down 8.9 percent year-on-year, at KRW88.08 billion.
May’s table drop amount – cash exchanged for chips by customers at casino tables – was down 1.4 percent month-on-month, at KRW121.84 billion, and down 10.5 percent year-on-year.
Aggregate table drop for the calendar year to May 31 slipped 11.0 percent year-on-year, to KRW604.57 billion.
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”We believe the intrinsic value of IGT’s market-leading businesses and diversified cash flow profile is not currently reflected in our stock price and the timing is right to assess opportunities that may enhance value for IGT’s shareholders”
Marco Sala
Executive chair of casino equipment supplier IGT