Paradise Co posts casino revenue of US$32.6m for March

Casino revenue was up 129.5 per cent when compared to last year.
Casino revenue was up 129.5 per cent when compared to last year.

Revenue for the first quarter was up by 151.5 per cent year-on-year.

South Korea.- Paradise Co has shared its financial results for the month of March. It’s posted casino revenue of KRW42.71bn (US$32.6m), up 129.5 per cent year-on-year but down 3.8 per cent month-on-month.

Gaming revenue reached nearly KRW39.09bn, up 137 per cent year-on-year, but down 7 per cent from the prior-month period. Machine game revenue was nearly KRW3.64bn, up 71.2 per cent year-on-year and up 54.1 per cent when compared to the previous month. 

The table drop was down 23.9 per cent when compared to January at KRW362.47bn but up 244 per cent from February 2022.

For the first three months of 2023, the casino operator’s revenue rose by 151.5 per cent from the prior-year period to approximately KRW135.21bn. Revenue generated from table games increased by 162 per cent year-on-year to almost KRW125.7bn. Machine gaming revenue was up by 64.4 per cent at approximately KRW9.51bn.

The first quarter of this year saw a 252 per cent year-on-year increase in the table drop – the amount of cash exchanged for chips by customers at tables – to just over KRW1.26tn. For full-year 2022, Paradise Co had reported a 40.5 per cent increase in revenue at KRW350.68bn (US$274.5m). 

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