South Korean foreigner-only casino operator Paradise Co reported casino sales of KRW20.61 billion (US$17.7 million), up 19.2% sequentially but down 71.7% year-on-year.
September’s results included a 72.7% decline in table game sales to KRW18.81 billion (US$16.2 million) and 54.7% fall in slot machine sales to KRW1.80 billion (US$1.6 million), with the rate of decline slowing compared with August when sales fell 75% year-on-year.
Table drop in September grew 10.2% sequentially, down 73.3% year-on-year, to KRW135.98 billion.
Through the first nine months of 2020, Paradise Co’s revenue is down 54.0% to KRW261.03 billion (US$224.8 million) due to the temporary closure of casino operations and ongoing travel restrictions from COVID-19.
The company’s flagship integrated resort, Paradise City in Incheon, was closed for a second time on 1 September after a staff member tested positive for COVID-19 with the company reopening casino operations a week later
Paradise originally closed Paradise City, Paradise Walkerhill, Busan Casino and Jeju Grand on 23 March due to COVID-19, later reopening Jeju Grand on 13 April and the remaining three on 20 April. Paradise City, located in Incheon near Seoul, is a joint venture project with Japan’s Sega Sammy Holdings.
