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.