South Korea’s Foreigner-Only Casinos See Mixed Performances in October

One of South Korea’s foreigner-only casino operators, Paradise Co, saw 125% higher revenue in October. However, their other venue, Grand Korea Leisure, saw a substantial drop in sales.

Paradise Co’s latest financial statement shows the company earned KRW21.35 billion (US $18.03 million) in October. This was significantly better than September, which totaled KRW9.49 billion (US $8 million). However, sales were still 4.5% lower than in October of last year.

Some of the success is due to an increase in restrictions in the company. However, casinos continue to deal with the closure of internal borders.

New restrictions released Monday in the country ease restrictions for some businesses, including bars and casinos. The government plans to eliminate all national restrictions by the beginning of 2022. This could help attract new international interest, with South Korea repeatedly on operators’ radar as the prime target for expansion.

Source: https://www.casino.org/news/south-koreas-foreigner-only-casinos-see-mixed-performances-in-october/