Casino sales at South Korean casino operator Paradise Co Ltd rose 9.4 percent year-on-year in April, the firm said in a filing on Wednesday to the Korea Exchange.
Such sales were KRW56.48 billion (US$49.0 million) compared to KRW51.62 billion in the year-prior period.
Judged month-on-month, April casino sales were up 28.3 percent compared to March.
The year-on-year improvement in April casino sales was caused by a 10.9 percent rise in table game sales during that month, to KRW53.16 billion. Machine game sales fell 10.5 percent to approximately KRW3.32 billion during April.
Paradise Co currently operates a network of five foreigner-only casinos located in three major cities in South Korea and on the country’s holiday island of Jeju.
The firm is also constructing a foreigner-only casino resort called Paradise City, in Incheon, near the main international airport serving the country’s capital Seoul. The scheme broke ground in 2014. Paradise City is a joint venture project between Paradise Co and Japanese pachinko operator Sega Sammy Holdings Inc.
In April the table drop recorded by Paradise Co in its current operations – the amount of cash exchanged by customers at casino tables – fell by 5.1 percent year-on-year to KRW415.26 billion. Judged month-on-month, table drop was up 2.4 percent on March.
Across the first four months of 2016, table drop fell 4.8 percent year-on-year, to nearly KRW1.65 trillion.
The April casino sales result means that in the four months to April 30, Paradise Co’s casino sales were down 2.9 percent year-on-year, to approximately KRW194.45 billion. Table game sales were down 2.2 percent year-on-year in the first four months of 2016, while machine game sales declined by 13.3 percent.
Jan 23, 2018Japan’s government is to submit the Integrated Resorts (IR) Implementation Bill to parliament, in order to advance the country’s status as a “tourism-oriented” country, said Prime Minister...
Jan 23, 2018
Dec 29, 2017It could be 2024 before a casino resort is opened in Japan,...
Dec 27, 2017The year 2017 could prove to have been a turning point in...
Oct 25, 2017The deployment of radio frequency identification (RFID)...
”We expect Goa to quickly become a US$1 billion market as it transitions to land-based casinos (from US$150 million today), which is still just a fraction of India’s total GGR potential of US$10 billion to US$17 billion”
Analyst at Union Gaming Securities Asia