Paradise Co February sales down 36.5%

Financial results show a 36.5 per cent month-on-month drop in casino sales for the South Korean operator, Paradise Co.

South Korea.- The casino operator Paradise Co. has reported February sales of KRW17.38bn (US$15.5m), a 36.5 per cent decline from January, which saw sales of KRW27.3bn (US$24.5m).

The company has been heavily affected by the Covid-19 pandemic due to the absence of international visitors.

The foreigner-only casino operator saw sales fall by 36.2 per cent from December to January.

Compared to February 2020, sales were down by 72.9 per cent. Sales for the first two months of 2021 were down by 67 per cent year-on-year to KRW44.75bn (US$39.9m).

However, table drop in February was down only 6.2 per cent compared against January to KRW119.06bn (US$106.1m).

The company operates four casinos: Walkerhill in Seoul, Jeju Grand on Jeju Island, Busan Casino in Busan and Paradise City in Incheon.

Paradise Co recently reported a full-year net loss of KRW109.85bn (US$98.4m) for 2020.