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.

---

---