S. Korea’s Paradise Co casino sales up 3.8 pct in 2014
South Korean gaming operator Paradise Co Ltd said sales from its casino business division rose 3.8 percent in 2014, to KRW591.3 billion (US$541.6 million).
The main net growth driver was sales from table games, which grew 3.5 percent, to approximately KRW558.7 billion, the firm said in a regulatory filing this week, quoting preliminary figures.
Sales from machine games jumped 10.4 percent during the same period, but from a modest base, thus reaching KRW32.6 billion.
Paradise Co’s casino business division includes the Walkerhill, Jeju Grand and Incheon casino properties. The company operates two other gaming venues: Paradise Casino Busan and Paradise Casino Jeju Lotte. The five properties, all within the country, are only permitted to host foreign gamblers.
Table drop – defined by the company as the amount of cash exchanged for chips by customers at the table – rose by 12.7 percent year-on-year in 2014, to KRW5.3 trillion, Paradise Co said.
The firm is currently developing a US$1.7 billion casino scheme near Seoul, known as Paradise City, in partnership with Japan’s Sega Sammy Holdings Inc. The project broke ground last November and is scheduled to open in 2017.
Paradise Co posted a 7.6-percent profit drop in the third quarter of 2014, despite a strong contribution to table drop by Chinese high rollers.
Latest News
G2E Asia 2023: Singapore
-
Alfastreet’s new Verso cabinet heading to Asian markets Alfastreet, a manufacturer of electronic gaming machines,... -
Sega Sammy Creation growing land-based, eyes online Casino equipment maker Sega Sammy Creation Inc is tweaking... -
iGaming growing in Asia, ops tackling challenges: Uplatform The iGaming segment in Asia “has grown rapidly” since... -
‘See before you play’ slot marketing tool, say tech... Showing slot machine players – via animations on the... -
Macau stocks tied to China outlook: Bloomberg analyst Macau stocks in likelihood “have been punished too much... -
Investors still eye possible fresh IR locations in Japan:... There are foreign companies still interested in investing... -
Thai casino law possible in 2024, IR in 2030: govt adviser Thailand could pass the necessary enabling legislation for... -
China still ‘critical’ to Asian markets: G2E Asia panel China will remain a key market for Asian gaming... -
Much interest in state casinos sale, says Pagcor boss Alejandro Tengco (pictured in a file photo), chairman and... -
Gaming industry in for a very exciting period: Bill Miller There are “plenty of reasons” for the global gaming... -
IGT flags route to high-performing games for Asia Gaming equipment provider International Game Technology Plc... -
G2E Singapore trade show, conference begins today The Global Gaming Expo (G2E) Asia 2023 Special Edition:... -
Novomatic’s Black Edition II cabinets at G2E in Singapore Austria-based gaming equipment maker and operator Novomatic... -
Uplatform to show latest iGaming products at G2E Singapore Sports betting and online casino operating platform... -
L&W ambition to be No1 in Asia well on its way: SVP... The business performance in Asia of gaming content and... -
G2E Singapore expecting 6k visitors, 100+ exhibitors The organisers of Global Gaming Expo (G2E) Asia 2023... -
‘Dragon Unleashed’ slot link by L&W at G2E in... Gaming content and equipment supplier Light & Wonder... -
Sega Sammy Creation new multi-ETG at G2E in Singapore Casino equipment maker Sega Sammy Creation Inc is to... -
Aristocrat at G2E Asia in Singapore previews Year of Dragon Casino slot machine and digital gaming content provider... -
IGT ‘Prosperity’ link in Asia show debut G2E in... The Global Gaming Expo (G2E) Asia event in Singapore is the... -
Thai parliament adviser on casinos attending G2E Singapore An adviser to a Thailand parliamentary committee mulling...
Sign up to our FREE Newsletter
(Click here for more)
Most Popular
Lam Yi Young resigns as deputy CEO Resorts World Sentosa June 2, 2023 
MBS en route to US$500mln quarterly EBITDA: LVS boss June 1, 2023 
China stimulus package could benefit Macau stocks: CBRE June 2, 2023
