S. Korea’s Paradise Co casino sales slightly down in March

Apr 03, 2019 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 declined 0.9 percent year-on-year in March, according to a Wednesday filing by the company to the Korea Exchange.

Such revenue was approximately KRW50.63 billion (US$44.6 million), compared to about KRW51.07 billion in March last year.

March 2018 table-games revenue was flat in March this year, at nearly KRW47.58 billion. Paradise Co’s machine-games revenue was down 11.3 percent year-on-year, to slightly above KRW3.05 billion.

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

For the first quarter of 2019, Paradise Co’s aggregate casino revenue was up 9.3 percent from the prior-year period, to approximately KRW162.09 billion.

Table revenue for the calendar year to March 31 increased 9.6 percent year-on-year, to about KRW150.64 billion. Machine revenue for the first three months this year was up 5.9 percent, to about KRW11.44 billion.

Table drop – the amount of cash exchanged for chips by customers at the table – for the first quarter of 2019 rose 19.1 percent year-on-year, to just over KRW1.62 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 on Jeju Island; Busan Casino in the southern port city of Busan; and Paradise City (pictured), in Incheon, near the main international airport serving the country’s capital Seoul.

Paradise Co reported a narrower loss for calendar year 2018, at KRW10.97 billion, from KRW18.95 billion in full-year 2017.

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