GGRAsia – S. Korea’s Paradise Co casino revenue jumps 50pct in April

S. Korea’s Paradise Co casino revenue jumps 50pct in April

May 10, 2019 Newsdesk Latest News, Rest of Asia, Top of the deck

Casino revenue at South Korea’s foreigner-only casino operator Paradise Co Ltd rose by 49.5 percent year-on-year in April, according to a Thursday filing by the company to the Korea Exchange.

Such revenue was approximately KRW57.13 billion (US$48.5 million), compared to about KRW38.21 billion in April last year.

Last month’s table revenue increased by 50.8 percent year-on-year to nearly KRW53.53 billion, from KRW35.49 billion a year earlier.

Machine revenue rose by 32.5 percent year-on-year in April this year, to approximately KRW3.61 billion, from KRW2.72 billion in the prior-year period.

No commentary on the reasons for year-on-year revenue fluctuations is given in the company’s monthly updates.

For the first four months of 2019, Paradise Co’s aggregate casino revenue was up 17.2 percent from the prior-year period, to approximately KRW218.53 billion.

Table revenue for the calendar year to April 30 rose by 17.7 percent year-on-year, to nearly KRW203.48 billion. Machine revenue for the opening four months this year was up 11.3 percent, to KRW15.05 billion.

Table drop – the amount of cash exchanged for chips by customers at the table – for the first four months of 2019 rose by 23.1 percent year-on-year, to just over KRW2.24 trillion.

Paradise Co’s latest casino figures are based on the results of four venues it operates in its casino business division. They are: Walkerhill (pictured) 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.