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Strong finish pushes Korea’s Paradise Co to 15.8% revenue growth in 2018

by Newsdesk

Mon 7 Jan 2019 at 14:02

Resorts business shows improvement but pachinko decline hurts Sega Sammy quarterly results

Paradise City in Incheon

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Korean foreigner-only casino operator Paradise Co saw its gaming revenue grow 8.4% year-on-year in December, boosted by a strong 24.3% increase in table drop to KRW523 billion (US$469.3 million).

Paradise Co, which operates Incheon integrated resort Paradise City as well as Paradise Walker-hill, Jeju Grand and Busan Casino, reported casino revenue of KRW55.5 billion (US$49.8 million) in December, up from KRW51.2 billion 12 months earlier. The figure also represented an 8.3% increase on its KRW51.3 billion in revenue in November 2018.

December’s results meant that the company booked a combined 15.8% improvement in casino revenues through all of 2018 to KRW638.3 billion (US$572.8 million) of which KRW595.7 billion was through table games and KRW42.6 billion from EGMs.

Table drop for the full year grew 14.4% to KRW5.8 trillion.

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The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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