• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 22 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Casino revenue down 45% year-on-year in 1H21 for South Korea’s Paradise Co

Newsdesk by Newsdesk
Mon 5 Jul 2021 at 04:54
Damage Control – Korea’s COVID calamity

Paradise City

11
SHARES
272
VIEWS
Print Friendly, PDF & Email

South Korean casino operator Paradise Co saw its casino revenue plummet by 45.2% year-on-year for the first six months of 2021 to KRW112.72 billion (US$99.7 million), impacted by the nation’s border closures due to the COVID-19 pandemic.

The decline included a 47.3% fall in table game revenue to KRW100.96 billion (US$89.3 million) and a 16.5% fall in machine revenue to KRW11.76 billion (US$10.4 million).

For the month of June, casino revenue was KRW 16.05 billion (US$14.2 million)  – 16.1% higher than both June 2020 and May 2021 when casino revenue coincidentally reached the exact same amount in both months, KRW13.83 billion (US$12.2 million).

Despite the June improvement, the result continues Paradise Co’s run of subdued results since the start of the COVID-19 pandemic, with the company having reported a loss of KRW109.85 billion (US$98.4 million) in 2020 and a loss of KRW18.20 billion (US$16.1 million) in 1Q21.

It is hoped that those results might start to see some incremental improvement in the coming months with South Korea having launched a travel bubble with the Commonwealth of the Northern Mariana Islands from 1 July and discussions ongoing about a similar bubble with Singapore.

Paradise operates four casinos nationwide – Paradise Walkerhill, Busan Casino, Jeju Grand and integrated resort Paradise City in Incheon. The company said recently that two Paradise City attractions – European-inspired art spa CIMER and indoor theme park Wonderbox – will reopen on 16 July after undergoing remodelling during their pandemic-forced closure.

Despite the slow recovery, June’s results at least showed a more substantial rise in table drop which grew 63.2% year-on-year and 43.1% versus May 2021 to KRW194.77 billion (US$172.3 million). For the first six months of 2021, table drop is down 42.7% year-on-year to KRW873.85 billion (US$772.8 million).

RelatedPosts

South Korea drops quarantine requirement for unvaccinated arrivals

Tourism professor proposes establishment of regulatory body to better monitor South Koreans gambling abroad

Mon 16 Jun 2025 at 05:47
Macau GGR hits MOP$19.8 billion in August, up 6% month-on-month

JP Morgan: Headline concert, Dragon Boat festival drive healthy Macau GGR momentum through first eight days of June

Mon 9 Jun 2025 at 18:16
Grand Korea Leisure’s June casino sales down 68% on 2019 levels

Grand Korea Leisure continues steady rise with casino revenues of US$22.4 million in May

Wed 4 Jun 2025 at 23:50
Korea recovery continues as Paradise Co sees June revenue soar 25.9%

Korea’s Paradise Co enjoys best month of the year in May as casino revenues hit US$61 million

Wed 4 Jun 2025 at 23:43
Load More
Tags: casino revenuecovid-19JuneParadise CityParadise CoParadise WalkerhillSouth Korea
Share4Share1
Newsdesk

Newsdesk

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.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

IAG’s Andrew W Scott addresses Thai senate subcommittee on Entertainment Complex Bill and key considerations for foreign investors

IAG’s Andrew W Scott addresses Thai senate subcommittee on Entertainment Complex Bill and key considerations for foreign investors

by Newsdesk
Fri 20 Jun 2025 at 06:53

Inside Asian Gaming’s Vice Chairman and CEO, Andrew W Scott, spoke yesterday at a hearing of Thailand’s ad hoc subcommittee studying the economic impacts and feasibility of establishing entertainment complexes (ECs) with casinos and online gaming, at the Thai Parliament...

Philippine tourist arrivals down 0.5% in 1Q25 on fewer visitors from South Korea, China

Contribution of Philippines tourism industry to national GDP rises to 8.9% in 2024

by Newsdesk
Fri 20 Jun 2025 at 06:46

The Philippines tourism industry saw its contribution to the country’s Gross Domestic Product in terms of share rise to 8.9% in 2024, up from 8.7% a year earlier, according to latest data from the Philippine Statistics Authority. Tourism Direct Gross...

Philippines’ maiden PIGO platform generates GGR of US$2.3 million in first six months of operation

DigiPlus appoints new CEO and CDO to drive further online gaming growth

by Newsdesk
Fri 20 Jun 2025 at 06:44

Philippines gaming technology giant DigiPlus – the country’s leading platform in the online and remote gaming space – has announced the appointment of a new Chief Executive Officer and a Chief Digital Officer. In a Philippine Stock Exchange filing on...

China’s Ambassador to the United States Xie Feng Meets with Wynn CEO Craig Billings

China’s Ambassador to the United States Xie Feng Meets with Wynn CEO Craig Billings

by Newsdesk
Thu 19 Jun 2025 at 19:54

Wynn Resorts CEO Craig Billings met this week with the Chinese Ambassador to the United States, Xie Feng, to discuss topics including China’s economic development and Sino–U.S. economic and trade relations. The Chinese Embassy in the United States released details...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語