Paradise Co Ltd, an operator in South Korea of foreigner-only casinos, saw its casino revenue for the first six months of this year decline by 10.1 percent year-on-year to KRW101.23 billion (US$77.91 million), according to the firm’s latest business performance report filed on Monday to the Korea Exchange.
In the January to June period, Paradise Co saw its table drop amount – the amount of cash exchanged for gaming chips by patrons at the tables – reach KRW739.77 billion, representing a 15.3-percent decrease from the same time last year.
To complete the set of first-half numbers for this year, Paradise Co saw its June casino revenue reach KRW13.28 billion, representing a sequential decline by 21.8 percent, and a year-on-year decline of 16.5 percent.
Revenue generated by gaming tables in June reached KRW10.69 billion, a double-digit percentage decline both sequentially and annually. The segment accounted for 80 percent of the firm’s June casino revenue.
Paradise Co’s table drop amount achieved in June was nearly KRW135.2 billion, up by 11 percent from the previous month, but down 30.9 percent from the prior-year period.
The firm’s casino business division consists of the venues Walkerhill in Seoul; Paradise Jeju on Jeju island; a property in the port city of Busan; and Paradise City at Incheon (pictured in file photo) – the latter run via a venture with Japan’s Sega Sammy Holdings Inc.
