South Korea’s Paradise Co saw its casino revenue fall by 6.8% month-on-month to KRW56.6 billion (US$43.6 million) in November, although this still represented a solid 43.8% improvement compared to the same time last year.
The November result was driven by table games revenue of KRW52.1 billion (US$40.1 million), down 7.8% month-on-month but up 46.1% year-on-year, while machine revenue of KRW4.48 billion (US$3.5 million) was improved 17.7% versus October and 21.6% compares with November 2022.
It also brought full year casino revenues for the first 11 months of the year combined to KRW681.4 billion (US$525 million) – up 125% year-on-year.
Table drop of KRW545.4 billion (US$420 million) in November was up 1.3% on October and 48.6% year-on-year in a sign that business volumes may have stabilized.
Paradise Co 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 recently booked a record quarter in 3Q23, with all-time highs in group-wide revenues, EBITDA and operating profit.
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