Leading Korean foreigner-only casino operator Paradise Co reported casino revenue of KRW71.2 billion (US$50.7 million) in April, down 12.7% year-on-year and 13.1% lower than in March, according to information filed with the Korea Exchange.
The April figure included a 13.2% sequential decrease in table games revenue to KRW67.6 billion (US$48.2 million) while machine declined by 11.8% to KRW3.59 billion (US$2.56 million).
Paradise seems to have played unlucky for the month, with table drop of KRW609.5 billion (US$434 million) up 7.6% year-on-year and by 3.5% compared with March.
Paradise, which recently revealed plans to develop a luxury hotel in Seoul and upgrade its VIP gaming areas to improve its appeal to international guests, 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.
The company also announced in April it is targeting a 10% annual sales growth rate and an operating profit rate of more than 20% through 2027 as part of a “Corporate Value-Up Plan” aimed at enhancing value for shareholders.
RelatedPosts
