Paradise Co placed on antitrust watchlist

Paradise Co placed on antitrust watchlist

South Korea’s antitrust regulator has placed Paradise Co under enhanced supervision.

South Korea.- The Fair Trade Commission of South Korea has put Paradise Co on its list of companies subject to enhanced supervision. The company operates three gaming venues directly: Walkerhill in Seoul, Paradise Jeju on Jeju island, and a property in the port city of Busan. In March, it confirmed its decision to delist from the KOSDAQ to transition to the KOSPI. There are now 88 companies on the enhanced watchlist.

Paradise Co recently reported a net income attributable to shareholders of KRW25.94bn (US$19m) for the first quarter of 2024. The figure was up 271.1 per cent when compared to Q1 last year and compares to a net loss of KRW9.10bn in the final quarter of 2023. 

In April, Paradise Co reported revenue of KRW84.14bn (US$61.1m). That’s a rise of 59 per cent month-on-month and 56 per cent year-on-year. For the first four months of the year, revenue was KRW290.92bn, up 54.5 per cent year-on-year. 

See also: South Korean casino revenue up 40.7% in 2023

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