Paradise Co Aug casino rev up m-o-m, nears US$60mln

Sep 04, 2023 Newsdesk Latest News, Rest of Asia, Top of the deck  

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August casino revenue at Paradise Co Ltd, an operator in South Korea of foreigner-only gaming venues, increased by 24.5 percent month-on-month, according to a Friday filing by the company to the Korea Exchange.

Such revenue was nearly KRW78.37 billion (US$59.5 million), compared to KRW62.96 billion in July. Judged year-on-year, the result was up 55.3 percent, from KRW50.48 billion in August 2022.

Last month’s table game revenue increased by 25.1 percent sequentially, to approximately KRW73.93 billion. The figure was up 54.6 percent from the prior-year period.

Paradise Co’s August machine game revenue was up 15.3 percent month-on-month and 66.9 percent higher from a year ago, at KRW4.44 billion.

The company’s table drop – the amount of cash exchanged for chips by customers at the table – reached KRW571.13 billion for August, up 7.8 percent sequentially and 72.4 percent from a year ago.

Paradise Co’s latest casino figures are based on the results of four venues it operates in its casino business division. They are: Walkerhill in Seoul; Jeju Grand on Jeju Island; Busan Casino in the southern port city of Busan; and Paradise City, in Incheon, near the main international airport serving the country’s capital Seoul.

No commentary on the reasons for revenue fluctuations is given in the company’s monthly updates.

Paradise Co’s aggregate casino revenue in the first eight months of 2023 stood at nearly KRW492.18 billion, up 176.1 percent from a year earlier.

Table drop for the calendar year to August 31 was approximately KRW3.94 trillion, a rise of 201.6 percent year-on-year.

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