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

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

Nov 02, 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 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.