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

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

Apr 03, 2019 Newsdesk Latest News, Rest of Asia, Top of the deck

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.