Paradise Co posts casino revenue of US$51.3m for November
Casino revenue was up 15.5 per cent sequentially and 31.3 per cent in year-on-year terms.
South Korea.- Paradise Co has reported casino revenue of KRW71.93bn (US$51.3m) for November. That’s an increase of 15.5 per cent month-on-month and 31.3 per cent year-on-year.
Table-game sales were KRW67.48bn (US$48.2m), up 16.7 per cent compared to the previous month and up 34.2 per cent in year-on-year terms. Machine game sales were KRW4.45bn (US$3.2m), flat month-on-month and down 0.7 per cent year-on-year. The table drop was KRW578.64bn (US$412.6m), up 6.7 per cent when compared to the previous month and up 6.1 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 eleven months of 2024, aggregate casino revenue reached KRW748.21bn (US$533.8m), up 10.1 per cent year-on-year.
Paradise City contributed the highest casino revenue in November at KRW35.28bn (US$25.2m), up 26 per cent sequentially. Walkerhill generated casino revenue of KRW30.25bn (US$21.6m), up 9.8 per cent sequentially. Revenue from table games was up 9.9 per cent year-on-year, to KRW699.9bn (US$499.3m), and machine-game sales rose by 12.4 per cent to KRW48.3bn (US$34.5m).
Paradise Co opens VIP lounge at Seoul Gimpo airport
In November, Paradise Co launched Paradise Lounge, a new customer lounge at Gimpo International Airport in Seoul. The lounge is situated on the first floor and is designed to serve VIP clientele. The lounge is intended to enhance VIP marketing and draw in new customers, providing services to casino patrons and guests.
In September, a new space specifically for high-rollers opened at the Paradise Casino Walkerhill in Seoul. The casino’s first expansion in nine years increased 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 KRW1.32tn (US$952m) by 2026.
The company also confirmed plans to begin construction on a new hotel in Seoul in the first quarter of 2025 with a target opening date in 2028. The 18-floor hotel will have approximately 200 suites and five basement levels offering premium services for foreign VIPs. It will cover 13,950 square metres. The cost of the development is estimated to be between KRW500 (US$360m) and KRW550 (US$400m).
