• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Paradise City a revenue booster for Paradise Co: analyst

Jan 23, 2017 Newsdesk Latest News, Rest of Asia, Top of the deck  


Paradise City a revenue booster for Paradise Co: analyst

South Korean casino operator Paradise Co Ltd is likely to post a 35.3 percent increase in sales in full-year 2017, fuelled by the expected April opening of casino resort Paradise City, said Seoul-based brokerage Shinhan Investment Corp.

“Paradise Co as a whole is forecast to post sales of KRW938.6 billion [US$805.3 million]” in 2017, said analyst June-won Sung in a note issued on Thursday. The figure includes KRW751.0-billion in casino sales, up 24.8 percent in year-on-year terms.

Shinhan Investment, a subsidiary of Shinhan Financial Group Co Ltd, provides security brokerage and investment banking services in South Korea.

Casino revenue at Paradise Co rose 6.2 percent in full-year 2016, the firm said in a filing to the Korea Exchange earlier this month. Such revenue was KRW603.13 billion compared to KRW567.88 billion in full-year 2015.

Paradise Co is currently constructing a foreigner-only casino resort called Paradise City, in Incheon, near the main international airport serving the country’s capital Seoul. Paradise City is a joint venture project between the South Korean casino operator and Japanese pachinko operator Sega Sammy Holdings Inc. The scheme broke ground in 2014 and is scheduled to open in April 2017, Paradise Co announced in June.

Paradise Co already operates a casino in Incheon.

Shinhan Investment’s Mr Sung said he expected Paradise Co to record “total operating profit of KRW54.3 billion (-24.3 percent year-on-year) and net profit of KRW23.1 billion (-64.6 percent year-on-year) in 2017.”

He said the profit forecasts already included depreciation costs, interest and other expenses related to Paradise City.

Mr Sung stated: “The share price [of Paradise Co] is projected to climb further if monthly earnings of the new casino resort come in line with the consensus after the opening. Costs may become an issue… if sales fall short of expectations.”


  • tweet
Related articles
  • Return of Chinese clients to aid S.Korea casinos: brokerage
    Return of Chinese clients to aid...

    May 23, 2023  

  • Paradise City to reopen Art Paradiso hotel Jul 15: operator
    Paradise City to reopen Art Paradiso...

    May 11, 2023  

More news
  • iGaming growing in Asia, ops tackling challenges: Uplatform
    iGaming growing in Asia, ops tackling...

    May 31, 2023  

  • Thailand still a watch and wait: LVS chairman
    Thailand still a watch and wait: LVS...

    May 31, 2023  


Latest News

iGaming growing in Asia, ops tackling challenges: Uplatform

iGaming growing in Asia, ops tackling challenges: Uplatform

May 31, 2023  

The iGaming segment in Asia “has grown rapidly” since the onset of the Covid-19 pandemic in early 2020, says Rakhi Jaimini (pictured), sales manager at sports betting and online casino operating...
Read More
Thailand still a watch and wait: LVS chairman

Thailand still a watch and wait: LVS chairman

May 31, 2023  

Bloomberry new court win in Bangladesh Bank heist case

Bloomberry new court win in Bangladesh Bank heist case

May 31, 2023  

‘See before you play’ slot marketing tool, say tech suppliers

‘See before you play’ slot marketing tool, say tech...

May 31, 2023  

Macau stocks tied to China outlook: Bloomberg analyst

Macau stocks tied to China outlook: Bloomberg analyst

May 31, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”[Macau casino] operators may want to remain prudent in not appearing to reward shareholders too early”

DS Kim

Head of Asia gaming and leisure research at JP Morgan Securities (Asia Pacific)



Most Popular

  • Dividend restart still far for Macau ops: JP MorganDividend restart still far for Macau ops: JP Morgan May 30, 2023
  • We’ll be in Singapore for many years: LVS chairmanWe’ll be in Singapore for many years: LVS chairman May 30, 2023
  • Cotai Expo hotel extra to licence capex, says GoldsteinCotai Expo hotel extra to licence capex, says Goldstein May 29, 2023

Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us