South Korea’s leading foreigner-only casino operator, Paradise Co, had continued its strong start to 2024, with February casino revenues rising by 83.1% year-on-year and 10.5% sequentially to KRW81.3 billion (US$61.0 million).
The improvement appears to have been aided by Paradise playing somewhat unlucky for the month, given that table drop of KRW565.4 billion (US$424 million) was largely flat sequentially and up 56.0% versus the same month in 2023.
February’s casino revenues included KRW76.8 billion (US$57.6 million) from table games – up 11.8% sequentially, and KRW4.52 billion (US$3.4 million) from slots, down 7.2%.
For the first two months of 2024 combined, casino revenues are already up 67.4% year-on-year to KRW154.8 billion (US$116.1 million). Table drop during that period is up 35.2% year-on-year to KRW1.13 trillion (US$848 million).
Paradise, which recently 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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