Korea’s Paradise Co posts significant casino revenue increase

Korea’s Paradise Co posts significant casino revenue increase

Operator reveals that full year 2019 revenues rose 23.4% on 2018

Korea.- Paradise Co, one of the biggest casino operators in Korea, has revealed full year revenues increased 23.4% year on year in 2019. According to official reports, revenues rose to KRW 784.81 billion (€602.6 million), up from the KRW 636.04 billion (€486.8 million) posted 12 months earlier.

The company operates four casinos: Paradise City, Paradise Walkerhill, Jeju Grand and Busan Casino. December revenues from all of its properties gave the company a strong finish to the year with an increase of KRW70.38 billion resulting in 28.3% year on year growth for the month.

Analysts said the increase came mostly from table games, which grew 24.7% to KRW740.07 billion (€54 million), comprising 94.3% of casino revenues across the board for the year.

Slot machine revenue grew 5.0% year-on-year to KRW44.74 billion (€34 million).

Paradise Co’s table drop grew 16.4% in 2019 to KRW6.76 trillion (€5.19 billion), despite a 4.7% fall in table drop in December to KRW498.58 billion (€382 million).

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