Paradise Co November gaming revenue down 54pct m-o-m

Dec 03, 2021 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Paradise Co Ltd, an operator in South Korea of foreigner-only casinos, saw its gaming revenue in November dip by 53.6 percent versus October, to KRW9.90 billion (US$8.4 million). Judged year-on-year, such revenue was up 1.2 percent.

Table revenue fell 59.0 percent month-on-month in November, to just under KRW8.05 billion. It was up 0.8 percent measured year-on-year.

In Thursday’s filing to the Korea Exchange, Paradise Co did not give an explanation for the big sequential reduction in table revenue.

Machine-game revenue this November was nearly KRW1.86 billion, up 9.3 percent month-on-month. Compared to November 2020, machine-game revenue was up 3.2 percent.

The figures were 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.

Paradise Co’s aggregate casino revenue for the first 11 months of 2021 was KRW219.87 billion, down 25.0 percent on the same period of 2020.

Table drop – the amount of cash exchanged for chips by customers at the table – in the January to November period inclusive, was KRW1.55 trillion, a 28.8-percent decline on the prior-year period.

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