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  

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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.

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