GGRAsia – S. Korea’s Paradise Co casino revenue up 34 pct in March

S. Korea’s Paradise Co casino revenue up 34 pct in March

Apr 03, 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 33.9 percent year-on-year in March, according to a Tuesday filing by the company to the Korea Exchange.

Such revenue was approximately KRW52.19 billion (US$49.5 million), compared to about KRW38.97 billion in March last year.

March 2018 table revenue rose 35.1 percent year-on-year to nearly KRW48.75 billion.

Paradise Co’s machine revenue jumped 18.9 percent in March this year, to KRW3.44 billion.

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

For the first quarter of 2018, Paradise Co’s aggregate casino revenue was up 19.9 percent from the prior-year period, to approximately KRW149.37 billion.

Table revenue for the calendar year to March 31 increased 19.3 percent year-on-year, to about KRW138.57 billion. Machine revenue for the first three months this year was up 26.8 percent, to nearly KRW10.80 billion.

Table drop – the amount of cash exchanged for chips by customers at the table – for the first quarter of 2018 rose 20.0 percent year-on-year, to just over KRW1.36 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.