Paradise Co posts casino revenue of US$43.9m for October
Casino revenue was flat in year-on-year terms but down 1.3 per cent sequentially.
South Korea.- Paradise Co has reported that revenue in October was flat year on year and down 1.3 per cent month-on-month at KRW60.29bn (US$43.9m). Table-game sales were down 1.2 per cent year-on-year and 1.6 per cent sequentially at KRW55.84bn (US$40.7m).
Machine game sales were KRW4.45bn (US$3.24m), up 3.4 per cent month-on-month and 16.9 per cent year-on-year. The table drop was KRW542.37bn (US$395.2m), down 3.8 per cent when compared to the previous month and up 0.7 per cent in year-on-year terms.
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 2024, aggregate casino revenue reached KRW674.28bn (US$491.1m), up 7.9 per cent year-on-year. Revenue from table games was up 7.5 per cent year-on-year, to KRW630.42bn (US$459m), and machine-game sales rose by 13.9 per cent to KRW43.86bn (US$31.9m).
Paradise Co new high-roller space
The new space for high-rollers at Paradise Casino Walkerhill in Seoul is reserved for the top 1 per cent of patrons. The company describes it as having an elegant Art Deco design with seven private rooms, a lounge and a bar, offering “personalised high-end services and an elevated gaming experience.”
The casino’s first expansion in nine years increases its size by 17 per cent, from 3,934.60 to 4,587.26 square metres. There are now 112 table games and 213 machine games. The casino operator said it expects sales in the new VIP venue to reach KRW22bn (US$16.6m) in 2025 and KRW32bn (US$24.18m) in 2026. The company plans to open a new international lounge at Gimpo Airport this month.
Choi Jong-hwan, Paradise Co’s chief executive, said: “This expansion will bring us a critical opportunity to secure both physical infrastructure and high-roller customers, enabling us to gain significant competitive advantage as a leading casino operator.
“Paradise Group will continue to enhance VIP-exclusive facilities and service competitiveness across all locations, and we are committed to transforming into a smart casino by adopting new digital technologies, solidifying our position as a first mover in the market.”
