Paradise Co casino revenue down 17.3% sequentially in October

Casino revenue was KRW61.01bn (US$45.8m) in October.

South Korea.- Paradise Co has shared its financial results for October. It reported a 17.3 per cent month-on-month decline in casino revenue from KRW75.12bn to KRW61.01bn (US$45.8m). When compared year-on-year, revenue was up by 31.2 per cent.

October’s table games revenue fell by 17.5 per cent month-on-month, from KRW69.37bn to KRW57.20bn (US$42.9m). The figure was up 32.7 per cent when compared to the previous year. Machine game revenue decreased by 13.3 per cent compared to the previous month but rose 12 per cent year-on-year to KRW3.81bn (US$2.86m).

Paradise Co operates four venues in its casino division: Walkerhill in Seoul, Jeju Grand on Jeju Island, Busan Casino in the southern port city of Busan, and Paradise City, near the primary international airport serving Seoul. For the first ten months of 2023, Paradise Co’s aggregate casino revenue reached nearly KRW625.50bn US$451.14bn), up 137.4 per cent year-on-year.

The amount of cash exchanged by customers for chips at gaming tables fell 5.1 per cent sequentially to KRW538.51bn in October. The drop was up 30.4 per cent from last year.

Paradise Co’s table drop in the 10 months to October 31 was nearly KRW5.05tn, an increase of 146.5 per cent.