GGRAsia – S. Korea Paradise Co casino revenue up 43pct y-o-y in Sept

S. Korea Paradise Co casino revenue up 43pct y-o-y in Sept

Oct 02, 2019 Newsdesk Latest News, Rest of Asia, Top of the deck

South Korean casino operator Paradise Co Ltd says its casino revenue grew to more than KRW73.63 billion (US$61.0 million) last month, 6.6 percent more than one month earlier and 42.7 percent more than at the same stage last year.

On Wednesday, the firm – which runs gaming venues open only to foreigners – told the Korea Stock Exchange that its revenue from gaming tables in September had been almost KRW69.66 billion, 6.0 percent more than the month before and 45.1 percent more than a year earlier.

Table drop – the amount of cash exchanged for chips at the firm’s gaming tables – was KRW529.01 billion in September, 15.1 percent less than the month before but 8.1 percent more than a year earlier.

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

The company said its revenue from gaming machines in September had been around KRW3.97 billion, 18.6 percent more than the month before and 10.7 percent more than a year earlier.

Paradise said its casino revenue grew to nearly KRW567.88 billion in the first nine months of 2019, 23.5 percent more than at the same stage last year. Revenue from gaming tables for the period stood at KRW534.33 billion, up 24.9 percent, while slot machine revenue increased 4.9 percent to KRW33.55 billion.

Paradise Co’s figures are based on gaming at four properties: Walkerhill in Seoul; the Jeju Grand (pictured), on Jeju island; Busan Casino in the southern port city of Busan; and Paradise City, at Incheon, close to the country’s main international airport serving the capital, Seoul. The latter gaming venue has been promoted in partnership with a unit of Japanese entertainment conglomerate Sega Sammy Holdings Inc.