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Paradise Co reports 10.5% increase in casino revenue for February

March 4, 2024 South Korea Casino & Hotel

In a report submitted to the Korea Exchange on Monday, Paradise Co Ltd, a company that runs South Korea’s foreign-only gambling establishments, said that its casino revenue increased by 10.5% in February over January.

Paradise Co.’s casino revenue increased 83.1 percent to KRW81.28 billion (about US$61.07 million) in February 2023 from KRW44.38 billion in the same month the previous year.

February’s revenue from table games was KRW76.76 billion, up 11.8 percent sequentially and 82.6 percent year over year. At the same period, machine gaming revenue was around KRW4.52 billion, up 92.0 percent from the prior year but down 7.2% from January.

The corporation doesn’t comment on the factors behind variations in revenue in its monthly statements.

The amount of cash that players at gaming tables traded for chips in February’s table drop was KRW565.43 billion, down 0.6 percent on a sequential basis, but up a substantial 56.0 percent on an annual one.

Over the first two months of the year, Paradise Co’s aggregate table drop exceeded KRW1.13 trillion, indicating a 35.2% increase year over year.

The four locations managed by Paradise Co’s casino business division—Walkerhill in Seoul, Jeju Grand on Jeju Island, Busan Casino in Busan, and Paradise City close to Seoul’s main international airport—are the basis for the company’s reported casino results.

Original story by: GGRAsia

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