Casino revenue at South Korea’s foreigner-only casino operator Paradise Co Ltd rose 3.9 percent year-on-year in November, according to a Tuesday filing by the company to the Korea Exchange.
Such revenue was approximately KRW54.78 billion (US$50.6 million), compared to about KRW52.73 billion in November of 2016.
November 2017 table revenue rose 2.2 percent year-on-year to nearly KRW51.31 billion, from nearly KRW50.19 billion a year earlier.
Paradise Co’s machine revenue jumped 36.8 percent in November this year, to KRW3.47 billion, from KRW2.54 billion in the prior-year period.
No commentary on the reasons for year-on-year revenue fluctuations is given in the company’s monthly updates.
For the first 11 months of 2017, Paradise Co’s aggregate casino revenue was down 9.1 percent from the prior-year period, to approximately KRW508.27 billion.
Table revenue for the calendar year to November 30 was down 9.9 percent year-on-year, to nearly KRW474.41 billion. Machine revenue for the first 11 months this year was up 3.7 percent, to nearly KRW33.86 billion.
Table drop – the amount of cash exchanged for chips by customers at the table – for the first 11 months of 2017 rose 5.2 percent year-on-year, to just over KRW4.65 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 (pictured) in Seoul; Jeju Grand 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.
The casino operator reported last month a net profit of approximately KRW4.23 billion for the third quarter 2017, a decrease of 56.1 percent from the prior-year period.
Jan 15, 2021Recent advisory notices issued by a number of local authorities in mainland China, calling on residents not to travel during the February Chinese New Year (CNY) break, further clouds the prospects...
Jan 15, 2021
“We expect Las Vegas Sands to not have any material change in strategy. The focus remains developing Macau and Singapore”
Vitaly Umansky, Kelsey Zhu and Tianjiao Yu
Analysts at brokerage Sanford C. Bernstein