South Korean casino operator Paradise Co Ltd said its casino sales for September rose 4.3 percent year-on-year to KRW47.7 billion (US$44.4 million).
The year-on-year increase in September was mainly driven by a 3.8 percent growth in sales from table games, to approximately KRW44.9 billion, the firm said in a regulatory filling this week.
Sales from machine games jumped 12.2 percent, to KRW2.8 billion from KRW2.5 billion in September 2013.
Analysts at UBS AG said the increase in September was again driven by Chinese visitors, showing that South Korea has not been hurt by a slowdown in Macau. Mainland China is the main feeder market for casinos in both jurisdictions.
For the nine months ending September 30, Paradise Co’s casino sales reached KRW439.7 billion, up by 4.0 percent from a year earlier.
Sales generated by gaming machines in the nine-month period rose 9.7 percent year-on-year to nearly KRW24.1 billion. Sales from table games were KRW415.6 billion, a more modest rise of 3.6 percent year-on-year.
Table drop – the amount of cash exchanged for chips by customers at the table – rose by 18.7 percent year-on-year in the first nine months of 2014, to nearly KRW4.0 trillion. For September, drop volume rose by 9.5 percent year-on-year to KRW395.8 billion, the company said.
Paradise Co posted a near 36-percent drop in second quarter profit, despite a strong contribution to table drop by Chinese high rollers.
Dec 19, 2018Hajime Satomi, chairman and chief executive of Japanese entertainment conglomerate Sega Sammy Holdings Inc, has played down interest in pursuing a licence for a casino resort in Osaka, showing a...
Dec 19, 2018
Dec 18, 2018
”Assuming we pursue development in the Tokyo metropolitan area, it is possible that it will be a large-scale project and ... we would like to hold the largest equity share in it”
Chairman and CEO of Japanese conglomerate Sega Sammy Holdings