Leading Korean foreigner-only casino operator Paradise Co bounced back strongly in April, with casino revenues climbing by 56.0% year-on-year and 59.0% sequentially to KRW84.1 billion (US$61.1 million).
Having seen casino revenues drop by 31.5% in March, the sequential improvement came on the back of the company’s gaming table segment which enjoyed a 62.2% improvement month-on-month to KRW79.3 billion (US$57.6 million). Machine revenue increased by 19.7% to KRW4.81 billion (US$3.5 million).
The improvement in revenues came despite drop falling slightly to KRW566.2 billion (US$411 million), although this was still 9.6% higher than the same month in 2023.
Casino revenues for the first four months of 2024 are up 54.5% to KRW290.9 billion (US$211 million) on a 28.9% improvement in drop to KRW2.30 trillion (US$1.67 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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