Paradise Co Sept casino revenue up 19pct from August

Oct 07, 2020 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, said in a Tuesday filing that its September casino revenue rose 19.2 percent judged month-on-month, though measured year-on-year such revenue fell 71.7 percent.

The group’s September casino revenue was just under KRW20.61 billion (US$17.7 million), an increase on the KRW17.29 billion achieved in August this year, but a major decline versus the almost KRW72.91 billion achieved in September 2019.

Paradise Co’s gaming operations are at: 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.

The casino at Paradise City reopened on September 9, after it had closed starting on September 1 due to what local media reported was an outbreak of Covid-19 among resort staff, including two casino workers.

September’s table game revenue at Paradise Co was up 22.2 percent sequentially, at nearly KRW18.81 billion. But it was down 72.7 percent year-on-year, compared to the just under KRW68.94 billion in September 2019.

Machine game revenue for last month was down 5.1 percent month-on-month, at nearly KRW1.80 billion. Judged year-on-year, such September revenue slipped 54.7 percent.

The latest monthly data took Paradise Co’s accumulated casino revenue for the calendar year to September 30 to just above KRW261.03 billion, which was 54.0 percent down from the prior-year period.

Accumulated table revenue for January to September inclusive was KRW241.30 billion, down 54.8 percent year-on-year, while aggregate machine game revenue was just above KRW19.73 billion for the first nine months of this year, a decline of 41.2 percent from a year earlier.

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