GGRAsia – Paradise Co casino revenue up 16pct m-o-m in June

Paradise Co casino revenue up 16pct m-o-m in June

Jul 02, 2021 Newsdesk Latest News, Rest of Asia, Top of the deck

Casino revenue at Paradise Co Ltd, an operator in South Korea of foreigner-only casinos, rose 16.1 percent month-on-month in June, and by the same percentage judged year-on-year.

This June’s casino revenue was just under KRW16.05 billion (US$14.2 million) versus nearly KRW13.83 billion in May. The latter result had been a 6.1 percent decline on April’s casino revenue for the group.

Table revenue was up 16.6 percent month-on-month this June, to KRW13.90 billion, from KRW11.92 billion in May. Judged year-on-year, June table revenue was up 14.6 percent on the KRW12.13 billion achieved in June 2020.

Machine revenue this June was just under KRW2.15 billion, up 12.6 percent on the almost KRW1.91 billion in May. This June’s result was up 26.8 percent on the nearly KRW1.70 billion in June 2020.

Aggregate casino revenue for first half 2021 was KRW112.72 billion, down 45.2 percent year-on-year on the nearly KRW205.80 billion in the same period of 2020.

First-half table revenue was KRW100.96 billion, a decline of 47.3 percent on the KRW191.72 billion in first-half 2020.

Machine game revenue at Paradise Co for the six months to June 30 was KRW11.76 billion, down 16.5 percent on the KRW14.08 billion in the same period a year earlier.

Table drop – the amount of cash exchanged for chips by customers at the table – rose 43.1 percent month-on-month in June, to KRW194.77 billion, relative to the KRW136.83 billion in May.

June’s year-on-year table drop performance was up 63.2 percent on the KRW119.35 billion in June 2020.

Six-month aggregate table drop to June 30 was KRW873.85 billion, down 42.7 percent year-on-year on first-half 2020’s KRW1.53 trillion.

The figures are based on the casino-business division comprising Paradise Walkerhill (pictured), in South Korea’s capital Seoul; Jeju Grand on Jeju island; Paradise City at Incheon outside Seoul; and Busan Casino in the southern port city of the same name.

The group’s casino business division occupied 73.9 percent of consolidated sales and 97.7 percent of separated sales in 2020.