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  

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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.

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