S. Korea’s Paradise Co casino revenue up 39pct in Oct

Nov 02, 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 39.3 percent year-on-year in October, according to a Friday filing by the company to the Korea Exchange.

Such revenue was approximately KRW70.54 billion (US$62.5 million), compared to about KRW50.67 billion in October last year.

Last month’s table revenue rose 43.1 percent year-on-year to slightly above KRW67.58 billion. Gaming machine revenue however fell by 14 percent in October this year, to KRW2.96 billion.

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

For the first 10 months of 2018, Paradise Co’s aggregate casino revenue was up 19.3 percent from the prior-year period, to approximately KRW531.82 billion.

Table revenue for the calendar year to October 31 increased 19.6 percent year-on-year, to about KRW496.88 billion. Machine revenue for the first 10 months this year was up 15 percent, to nearly KRW34.94 billion.

Table drop – the amount of cash exchanged for chips by customers at the table – for the January to October period rose 12.7 percent year-on-year, to just above KRW4.76 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 (pictured) 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.

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