Paradise Co posts revenue of US$30.41m in November

Casino revenues were boosted by Japanese visitors in Q3.
Casino revenues were boosted by Japanese visitors in Q3.

The South Korean casino operator’s revenue was up 311 per cent year-on-year.

South Korea.- Paradise Co has shared its financial results for November. It’s posted revenue of KRW39.57bn (US$30.41m), up 311 per cent year-on-year. Mass revenue totalled KRW35.88bn (US$27.57m), up 356 per cent. VIP revenue was nil and slot revenue totalled KRW3.65bn (US$2.8m), up 109 per cent.

The company reported a table drop of KRW367.07bn (US$282.21m), up 165.7 per cent. For the first 11 months of 2022, Paradise Co’s cumulative casino revenue was KRW303.0bn (US$233.1m), up 37.8 per cent from last year. 

In the third quarter, it reported a net profit attributable to shareholders of KRW39.37bn (US$28.7m), up 111.6 per cent from the previous quarter, and an operating profit of KRW38.35bn, compared with KRW4.81bn last year. Paradise Co said the rise was aided by a rebound in its casino business, helped by the return of Japanese VIP guests.

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Paradise Co.