S. Korea’s Paradise Co casino revenue up slightly in Sept

Oct 04, 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 0.9 percent year-on-year in September, according to a Thursday filing by the company to the Korea Exchange.

Such revenue was approximately KRW53.07 billion (US$47.1 million), compared to about KRW52.57 billion in September of 2017.

Last month’s table revenue fell by 1.0 percent to about KRW49.48 billion, from nearly KRW49.96 billion in the prior-year reporting period.

Paradise Co’s machine revenue rose by 37.4 percent year-on-year, to approximately KRW3.59 billion in September.

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

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, in Incheon, near the main international airport serving the country’s capital Seoul.

Paradise City opened to the public last month the second stage of its phase one development. The new amenities include a shopping mall, a boutique hotel, a spa, a club, a film studio, a family entertainment compound and an art gallery.

The first phase of Paradise City (pictured) – a venture between Paradise Co and Japanese pachinko operator Sega Sammy Holdings Inc – opened on April 20, 2017.

For the first nine months of 2018, Paradise Co’s aggregate casino revenue was up 17.0 percent from the prior-year period, to nearly KRW462.38 billion.

Table revenue for the calendar year to September 30 rose by 16.9 percent year-on-year, to approximately KRW430.40 billion. Machine revenue for the first nine months this year was up 18.7 percent, to about KRW31.98 billion.

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