Paradise Co reports 20.6% increase in Q3 net income
The company’s quarterly results showed growth across its main financial indicators, with operating profit rising faster than revenue.
Key takeaways
- Paradise Co’s net income attributable to shareholders increased 20.6 per cent year-on-year to KRW27.78bn (US$20.8m) in Q3 2026.
- Consolidated net income rose 17.1 per cent to KRW39.15bn (US$29.3m).
- Third-quarter revenue increased 22 per cent to KRW351.66bn (US$263.4m), while operating profit jumped 62.3 per cent to KRW64.12bn (US$48m).
- For the first nine months, revenue grew 12.6 per cent, but operating profit and consolidated net income declined.
South Korea.- The South Korean foreigner-only casino operator Paradise Co Ltd reported KRW27.78bn (US$20.8m) in net income attributable to shareholders in the third quarter. That’s a rise of 20.6 per cent year-on-year, according to a regulatory filing submitted on Tuesday, November 10.
The company’s consolidated net income increased by 17.1 per cent year-on-year to KRW39.15bn (US$29.3m). Revenue for the third quarter reached KRW351.66bn (US$263.4m), up 22 per cent, while operating profit increased by 62.3 per cent to KRW64.12bn (US$48.0m).
On a quarter-on-quarter basis, revenue grew by 10.6 per cent, while operating profit increased by 80.4 per cent. Consolidated net income rose by 86.2 per cent from KRW21.02bn (US$15.7m) in the second quarter.
For the first nine months of 2026, Paradise Co recorded revenue of KRW963.71bn (US$721.7m), up 12.6 per cent year-on-year. However, operating profit declined by 1.9 per cent to KRW136.98bn (US$102.6m), while consolidated net income fell by 27.6 per cent to KRW78.84bn (US$59.0m). Net income attributable to shareholders also declined by 20 per cent to KRW60.04bn (US$45.0m).
In a filing earlier this week, Paradise Co disclosed that it was reviewing a possible investment in Maison Glad Jeju, a 510-room hotel close to its Jeju casino. The company has yet to make a final decision or disclose the potential investment value.
