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Paradise Co. records $56.1 million casino revenue, marking 54.9% y-o-y rise

February 2, 2024 South Korea Casino & HotelIndustry Updates

The largest foreign-only casino operator in South Korea, Paradise Co., recorded casino revenue of KRW74.5 billion (US$56.1 million) in January. This is a 17.7% increase from December and a massive 54.9% increase year over year.

In spite of this, Paradise’s income decreased sequentially by 2.2% to KRW568.9 billion (US$429 million). Still, there was a notable 19.4% rise in table drop when compared to the same period last year.

January’s revenue from table games was KRW69.6 billion (US$52.5 million), up 18.3% from the previous month and 56.2% from the previous year. Moreover, machine revenue increased to KRW4.88 billion (US$3.7 million) in January 2023, up 38.2% from January 2023 and 9.5% from December.

Prior to this, Paradise Co. declared that its casino revenue will soar 113% to KRW744.2 billion (US$567 million) by 2023.

The company owns and operates four casinos in Korea: Seoul, Busan, Jeju, and the integrated resort Paradise City in Incheon, which is a partnership with Sega Sammy of Japan.

Original story by: IAG

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