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Korea’s Paradise Co books 7% year-on-year increase in casino revenue in July

Newsdesk by Newsdesk
Sun 4 Aug 2024 at 12:31
Bad luck limits Paradise Group’s growth in January

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Leading Korean foreigner-only casino operator Paradise Co reported casino revenues of KRW62.0 billion (US$45.7 million) in July, up 7.3% year-on-year but down 1.3% compared with June.

The annual improvement came on the back of growth across the board, with the company’s gaming table segment booking a 6.1% increase to KRW57.6 billion (US$42.4 million) and machine revenue a 24.4% increase to KRW4.47 billion (US$3.3 million).

It also followed a slight increase in table drop, both year-on-year and month-on-month, to KRW542.2 billion (US$399 million).

Casino revenues for the first seven months of 2024 are up 16.3% to KRW481.4 billion (US$355 million) on an 18.0% improvement in drop to KRW3.98 trillion (US$2.93 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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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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