In October, Paradise Co Ltd, a South Korean operator that specializes in casinos only for foreign tourists, recorded a consistent KRW60.29 billion (US$43.9 million) in casino income. Although it represented a minor 1.3% drop from September’s numbers, this sum represents revenue that was essentially unchanged from the same period last year. In a recent filing to the Korea Exchange, the company revealed these data.
Table Games See Minor Dip, While Machine Games Surge
Table game revenue, a significant contributor to Paradise Co’s earnings, reached KRW55.84 billion in October. This figure represents a slight 1.2% decline from October 2023, and a modest 1.6% dip compared to the previous month. However, machine games posted a strong performance, with revenue increasing by 16.9% year-on-year to KRW4.45 billion. Compared to September, machine-game sales rose by 3.4%, signaling continued growth in this segment.
In October, the casino drop—funds exchanged for chips at gaming tables—amounted to KRW542.37 billion. This metric shows a slight 0.7% increase over the previous year but reflects a 3.8% decrease from September’s numbers.
Paradise Co Ltd, which operates three casino properties—Walkerhill in Seoul, Paradise Jeju on Jeju Island, and a venue in Busan—also manages the Paradise City casino resort in Incheon in partnership with Sega Sammy Holdings Inc. For the first ten months of 2024, Paradise Co Ltd has shown positive revenue growth, with cumulative revenue reaching KRW674.28 billion. This marks a 7.9% increase over the same period in 2023.
A consistent source of income, table games have brought in KRW630.42 billion so far this year, an increase of 7.5% from the previous year. Additionally, machine-game income increased by 13.9% over the previous year to KRW43.86 billion throughout the ten-month period. This steady expansion demonstrates Paradise Co.’s ability to sustain high profits from a variety of gaming options while meeting the continually increasing demand from tourists from other countries.
Paradise Co Ltd is still a significant player in the South Korean casino industry thanks to its strategic alliances and properties, which balance steady performance across table games and other products with strong machine-game growth.
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