South Korea’s Paradise Co. reports 112.8% year-on-year increase in gaming revenue

A record 112.8% growth in gaming income was recorded by Paradise Co., a Korean casino operator, for the year, totaling KRW 744.2 billion ($570.5 million).

The tremendous growth in the table gaming industry is primarily responsible for the sharp increase in yearly profits. While machine income grew by 51.9% to KRW 47.5 billion ($36.4 million), table game revenue jumped by 118.8% year over year to KRW 696.7 billion ($534.1 million).

The 2023 table drop reached KRW 6.2 trillion ($4.7 billion), a 114.2% annual increase.

Gaming income increased by 17.9% each month and by a staggering 37.9% annually in December, according to Paradise Co., totaling KRW 64.6 billion ($49.5 million). Table games generated KRW 60.1 billion ($46.1 million), a 19.6% monthly gain and a significant 37.1% increase over the previous year, accounting for the bulk of this revenue.

Machine revenue increased steadily over time, reaching KRW 4.5 billion ($3.4 million) after expanding by 49.2% annually but decreasing by 0.6% each month. The monthly table drop reached KRW 581.5 billion ($445.8 million) in December, a 6.6% rise.

Original story by: Asia Gaming Brief