Paradise Co Sept casino revenue down 84pct sequentially

Oct 05, 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, says its casino revenue in September fell by 84.0 percent month-on-month, to just above KRW9.55 billion (US$8.04 million). The September tally was down 53.6-percent on the KRW20.58 billion achieved a year ago, said the company in a Tuesday filing.

Table revenue declined by 86.4 percent month-on-month in September, to nearly KRW7.84 billion. Last month’s table revenue fell by 58.3 percent, from the KRW18.79 billion achieved in September 2020.

Machine-game revenue this September reached nearly KRW1.72 billion, down 13.9 percent from the previous month. It was also down 4.5 percent from the prior-year period.

The figures are based on the casino-business division comprising Paradise Walkerhill (pictured in file photo), 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 nine months of 2021 was KRW188.71 billion, down 27.7 percent on the KRW261.04 billion in the same period of 2020.

Table revenue in the January to September period was KRW171.31 billion, down 29.0 percent from a year earlier; while machine-game revenue was down 11.9 percent year-on-year, to KRW17.39 billion.

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