Paradise Co reports drop in net income for Q2
South Korea’s foreigner-only casino operator posted stronger sales in the second quarter, but net income attributable to shareholders declined year-on-year.
South Korea.- Paradise Co reported a 24.4 per cent year-on-year decline in net income attributable to shareholders for the second quarter of 2026 despite an increase in revenue. Net income attributable to shareholders fell to KRW15.79bn (US$11.2m) in the three months ended June 30, down 4.1 per cent compared with the previous quarter.
Quarterly sales, however, increased 11.8 per cent year-on-year to KRW318.09bn (US$225.6m). On a sequential basis, revenue rose 8.2 per cent.
Casino sales for the first half reached KRW477.62bn (US$338.8m), a 5.1 per cent increase from the same period in 2025. The casino drop increased 8.1 per cent year-on-year to KRW3.81tn (US$2.70bn).
Paradise Co operates four casinos: Walkerhill in Seoul, Jeju Grand on Jeju Island, Busan Casino in the southern port city of Busan, and Paradise City, near the main international airport serving Seoul. A planned new hotel in Seoul has a target opening for 2028 as part of a strategy to attract more international high-rollers.
