Sep 06, 2016 Newsdesk Latest News, Rest of Asia, Top of the deck  
Casino sales at South Korean casino operator Paradise Co Ltd soared in August. The company on Tuesday reported casino sales of KRW58.16 billion (US$52.6 million) for that month, up 19.5 percent from the prior-year period.
Judged month-on-month, August casino sales rose 18.4 percent compared to July.
The year-on-year increase in casino sales was sustained by a 22.7 percent rise in table game sales during the month of August, to KRW55.72 billion. Machine game sales however declined by 25.3 percent year-on-year to approximately KRW2.44 billion, the firm said in a filing to the Korea Exchange.
In Tuesday’s filing, Paradise Co said the numbers were for gaming sales at its casino division, comprising the properties Walkerhill, in Seoul; Jeju Grand on Jeju Island; Incheon Casino, near Incheon International Airport; and Busan Casino, in Busan city.
Seoul-based brokerage Shinhan Investment Corp said in a July note that Paradise Co was likely to see a “sharp earnings improvement” year-on-year in the third quarter of 2016, based on a low base of comparison.
Paradise Co’s casino sales for the first eight months of 2016 reached approximately KRW411.99 billion, a 9.6 percent increase from the prior-year period.
Table game sales for the January to August period rose by 10.8 percent year-on-year to about KRW388.22 billion. Machine game sales declined 6.6 percent in the first eight months to nearly KRW23.77 billion.
Table drop – defined by the company as the amount of cash exchanged for chips by customers at the table – for the January to August period increased by 1.8 percent year-on-year, to about KRW3.21 trillion.
Paradise Co reported net income attributable to shareholders of approximately KRW25.5 billion for the three months ended June 30, up by 135.8 percent from a year earlier.
Paradise Co is constructing a foreigner-only casino resort, called Paradise City, in Incheon. The scheme broke ground in 2014 and is scheduled to open in April 2017. Paradise City is a joint venture project between Paradise Co and Japanese pachinko operator Sega Sammy Holdings Inc.
Jun 01, 2023
May 25, 2023
Jun 02, 2023
Jun 02, 2023
Jun 02, 2023
Genting Singapore Ltd says Lam Yi Young has resigned from his role as deputy chief executive of Resorts World at Sentosa Pte Ltd. The latter firm is an indirect wholly owned subsidiary of Genting...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
US$8.1 billion
Macau’s casino gross gaming revenue in the five months to May 31