Paradise Co Casino Up 89 pct In August

Paradise Inc., South Korea’s foreign-only casino operator, saw casino sales rise 89.3 percent month-on-month to 50.76 billion won ($37.3 million) in August.

Revenue fell 15.0% year-over-year. The company did not comment on the reason for the change.

The group’s table game sales rose 97.5% sequentially to 48.1 billion won in August 2022, but fell 16.6% year-on-year, according to data submitted to the Korea Exchange on Friday.

Machine game sales rose 8.4% month-on-month to 2.66 billion won last month and 33.4% year-on-year.

The month-on-month improvement was consistent with South Korea’s tourism market continuing to ease entry procedures for foreigners from certain places to recover from COVID-19-related disruptions.

Paradise’s cumulative casino revenue for January-August 2022 was 178.56 billion won, down 0.3% year-over-year.

Through Aug. 31, the amount customers exchanged for chips at the table increased 8.8% year-on-year to nearly 1.31 trillion won.

The company’s casino division consists of Walkerhill in Seoul, Paradise Jeju in Jeju Island, real estate in the port city of Busan, and Paradise City in Incheon, with the latter operating through Japan’s Sega Sammy Holdings Inc. and ventures.

In August, Paradise reported a net profit of just 18.61 billion won for its shareholders in the second quarter, down 1.6% from a year earlier.

BY: 슬롯머신

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