Paradise Co revenue down 34.4% in April

Financial results show a 34.4 per cent fall in casino revenue for the South Korean operator, Paradise Co.

South Korea.- The casino operator Paradise Co has reported a 34.4 per cent decrease in revenue from KRW22.60bn (US$20m) in March to KRW14.82bn (US$13.2m) in April.

Although revenue was down when compared to the previous month, Paradise Co noted that the number was 86.3 per cent higher than in April last year.

Compared to March, Paradise Co table revenue was down 36.5 per cent to nearly KRW13.05bn but up 88.0 per cent from a year earlier.

Machine game revenue reached almost KRW1.78bn, down 13.7 per cent from the previous month but up 74.4 per cent from April last year.

The company, which operates four casinos: Walkerhill in Seoul, Jeju Grand on Jeju Island, Busan Casino in Busan and Paradise City in Incheon, reported that table revenue between January and April was KRW75.19bn, down 50.6 per cent compared to the first four months of 2020.

The foreigner-only casino operator has struggled due to Covid-19 countermeasures and the lack of tourists. In February, South Korea received only 65,582 visitors, a fall of 90.4 per cent year-on-year.