South Korea’s leading foreigner-only casino operator, Paradise Co, saw its casino revenues fall by 31.5% month-on-month to KRW55.0 billion (US$40.7 million) in March, with the company appearing to play unlucky.
Although table drop actually increased by 5.3% over February to KRW595.3 billion (US$441 million), table games revenues dropped by 32.8% to KRW50.9 billion (US$37.7 million) and machine revenue by 10.2% to KRW4.06 billion (US$3.0 million).
Casino revenues were still 31.3% better off than March 2023, when revenues reached KRW41.9 billion (US$31.0 million).
For the first three months of 2024 combined, casino revenues are up 55.4% year-on-year to KRW208.8 billion (US$155 million). Table drop during that period is up 36.8% year-on-year to KRW1.73 trillion (US$1.28 billion).
Paradise, which reported a net profit of KRW84.7 billion (US$63.6 million)in 2023, operates four casinos in Korea including integrated resort Paradise City in Incheon – a joint venture with Japan’s Sega Sammy – plus casinos in Seoul, Busan and Jeju.
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