GGRAsia – S. Korea’s Paradise Co casino revenue up 25 pct in May

S. Korea’s Paradise Co casino revenue up 25 pct in May

Jun 08, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck

Casino revenue at South Korea’s foreigner-only casino operator Paradise Co Ltd rose 25.2 percent year-on-year in May, according to a Thursday filing by the company to the Korea Exchange.

Such revenue was approximately KRW51.96 billion (US$48.5 million), compared to about KRW41.51 billion in May last year.

May 2018 table revenue rose 22.0 percent year-on-year to nearly KRW47.53 billion.

Paradise Co’s machine revenue soared 74.6 percent in May this year, to KRW4.43 billion.

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

For the first five months of 2018, Paradise Co’s aggregate casino revenue was up 16.6 percent from the prior-year period, to approximately KRW238.83 billion.

Table revenue for the calendar year to May 31 increased 15.8 percent year-on-year, to about KRW220.89 billion. Machine revenue for the first five months this year was up 28.2 percent, to nearly KRW17.95 billion.

Table drop – the amount of cash exchanged for chips by customers at the table – for the January to May period rose 17.9 percent year-on-year, to just below KRW2.30 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 in Seoul; Jeju Grand on Jeju Island; Busan Casino in the southern port city of Busan; and Paradise City (pictured), in Incheon, near the main international airport serving the country’s capital Seoul.