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May gaming revenue flat m-o-m at casino op Paradise Co

Jun 07, 2022 Latest News, Rest of Asia, Top of the deck  

May gaming revenue flat m-o-m at casino op Paradise Co

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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