International edition
June 22, 2021

Revenue down by 28.2% on month-over-month basis

South Korea's operator Paradise records 19% year-on-year spike in September

South Korea's operator Paradise records 19% year-on-year spike in September
South Korean hotel and casino operator Paradise Co., Ltd. generated casino revenue of KRW41.6 billion (USD 37.35M) in September, up 19% year-on-year, the company said today in a filing to the Korea Exchange.
South Korea | 10/05/2016

South Korean hotel and casino operator Paradise Co., Ltd. generated casino revenue of KRW41.6 billion (USD 37.35M) in September, up 19% year-on-year, the company said today in a filing to the Korea Exchange.

O

n a month-over-month basis, casino revenue decreased 28.2% compared to the results posted for August.

Paradise attributed the year-on-year growth mainly to the performance of its Walkerhill, Incheon Casino, Jeju Grand, and Busan Casino properties.

As stated in the Wednesday filing, revenue from table games amounted to KRW38.6 billion, reflecting a 21.7% increase from what was generated during the same month of the previous year. However, revenue was down 30.4% on a month-over-month basis

Table drop for September increased 4.7% year-on-year to reach KRW389.6 billion. Generally speaking, table drop is the amount of cash exchanged by players for chips so as to be able to play at Paradise’s casinos.

Revenue from slot machines totaled KRW3 billion last month, down 7.8% from September 2015 and up 23.5% from August.

Paradise’s properties generated a total of KRW453.5 billion in casino revenue during the nine months ended September 30, up 10.4% compared to the prior-year period. Overall table games revenue for the reviewed nine months totaled KRW426.7 billion, reflecting an 11.7% rise from the same nine months of the previous year. Revenue from slot machines amounted to KRW26.8 billion, down 6.7% from the first three quarters of 2015. Table drop for the nine months ended September 30, 2016 totaled KRW3.6 trillion, up 2.1% as compared to the cash exchanged during the prior-year period.

Based in South Korea, Paradise operates in three main segments. The company manages a number of casino properties in its home country as well as in Kenya, with some of those being Paradise Casino Incheon, Paradise Casino Jeju Grand, Paradise Casino Busan, Paradise Safari Park Casino, and others. All those offer a wide variety of casino options. Aside from them, the company also runs a number of hotel properties, with some of those being joined together with the gambling facilities. The third segment Paradise operates includes the provision of spa services. Founded in 1972, the company has established itself as a leader in its field.

What is your opinion about this article?
  • I like it
    %
    0 votos
  • I don't like it
    %
    0 votos
  • I have not thought about it
    %
    0 votos
Leave your comment
Newsletter Subscription
Subscribe to receive the latest news and updates
Enter a valid email
Complete the captcha
Thank you for registering to our newsletter.
Follow us on Facebook