Paradise Co’s Nov casino revenue tops US$51mln

Dec 03, 2024 Newsdesk Latest News, Rest of Asia, Top of the deck  

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November casino revenue at Paradise Co Ltd, an operator in South Korea of foreigner-only casinos, saw both a sequential and year-on-year growth, the firm said in a Tuesday filing to the Korea Exchange.

Paradise Co’s November casino revenue rose by 15.5 percent sequentially to KRW71.93 billion (US$51.3 million). Judged year-on-year, the November tally was up 31.3 percent.

Gaming table revenue recorded last month amounted to KRW67.48 billion, up 16.7 percent from October, and an increase of 34.2 percent from a year ago.

Revenue from gaming machines stood at nearly KRW4.45 billion in November, flat in sequential and year-on-year terms.

Paradise Co directly operates three casino venues: Paradise Walkerhill in Seoul; Paradise Jeju on Jeju island; and a property in the port city of Busan.

It also has a venture with Japan’s Sega Sammy Holdings Inc for the Paradise City casino resort at Incheon, near South Korea’s main airport.

The gaming venue at Paradise City (pictured in file photo) contributed the highest amount of casino revenue in November, at KRW35.28 billion, up nearly 26 percent sequentially, according to Paradise Co’s complementary financial data filed on its official website.

The firm’s Walkerhill was the second most important casino revenue contributor in November. That venue generated casino revenue of KRW30.25 billion last month, up 9.8 percent sequentially.

The latest monthly tally took Paradise Co’s aggregate casino revenue for the first 11 months of 2024 to KRW748.21 billion, up 10.1 percent year-on-year.

Table drop amount – the amount of cash exchanged for chips by patrons at the table – stood at nearly KRW578.64 billion in November, up 6.7 percent from October and a 6.1-percent increase from a year ago.

Paradise Co’s aggregate table drop for the 11 months to November 30 reached nearly KRW6.33 trillion, up 13.2 percent year-on-year.

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