South Korean foreigner-only casino operator Paradise Co has endured a slow start to 2021, with January casino sales falling 61.8% year-on-year and 36.2% versus December 2020 to KRW27.28 billion (US$24.4 million).
The subdued figures follow strict COVID-19 measures implemented since late November when the government issued a Level 2.5 alert – the second highest of South Korea’s five alert tiers – across the Greater Seoul region and a Level 2 alert for the rest of the country. Those alerts were this week extended until 14 February.
In a Friday filing, Paradise Co – which briefly closed Paradise Walkerhill casino in Seoul in mid-December but kept its other properties open – revealed that January casino sales had fallen to to KRW27.28 billion in January from KRW42.77 billion (US$38.3 million) in December.
Table drop was down 10.6% sequentially to KRW126.90 billion (US$113.7 million), suggesting bad luck played some part in the decline.
Paradise Co operates for casinos nationwide including integrated resort Paradise City in Incheon, plus Paradise Walkerhill, Busan Casino and Jeju Grand.
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