Paradise Co casino revenue up 633.8% in June

Paradise Co has reported that revenue grew from KRW70.14bn (US$53.1m) to KRW95.59bn (US$72.89m).

South Korea.- Paradise Co has shared its financial results for June. Revenue grew from KRW70.14bn (US$53.1m) to KRW95.59bn (US$72.89m). That’s a rise of 39.5 per cent when compared to the previous month and 633.8 per cent in year-on-year terms.

The casino operator’s table games revenue rose 774.1 per cent year-on-year and 42.5 per cent sequentially from KRW65.7bn (US$51.6m) to KRW91.33bn (US$69.9m). Gaming machine revenue was up 65.4 per cent year-on-year and 3.9 per cent sequentially from KRW4.44bn (US$3.8m) to KRW4.26bn (US$2.36m).

For the first half of the year, Paradise Co has reported revenue of KRW352.45bn (US$269.4m), up 249 per cent from a year earlier. Table revenue was up 274.8 per cent year-on-year to KRW330.42bn (US$252.4m) while machine revenue was up 71.5 per cent to KRW22.03bn (US$16.8m). The aggregate table drop was up 283.8 per cent year-on-year to KRW2.84tn.

Paradise Co has recently reported it refinanced KRW500bn (US$389.5m) out of a loan amount of KRW800bn for its Paradise City resort. The funds relate to phase I and phase II of the IR. Under the terms of the agreement, the KRW500bn will have an extended maturity date set for June 19, 2028.