Paradise Co has reported that revenue declined 7.6 per cent month-on-month from KRW18.64bn to KRW17.22bn (US$13.5m).
South Korea.- Paradise Co has shared its financial results for April. It’s reported a fall in revenue of 7.6 per cent when compared to the previous month, down from KRW18.64bn to KRW17.22bn (US$13.5m). However, when compared to last year, casino revenue was up 14.6 per cent.
Table game sales were KRW14.90bn, down 9.6 per cent month-on-month but up 12.5 per cent when compared to 2021. Gaming machine revenue was up 9.3 per cent month-on-month and 30.2 per cent year-on-year to KRW2.32bn.
For the first four months of 2022, the casino operator has reported revenue of KRW70.98bn, down 14.6 per cent year-on-year. When compared to last year, table game revenue was down 25.4 per cent while aggregate table drop was down 11.1 per cent at KRW482.74bn.
Last April, the casino operator reported revenue of KRW14.82bn (US$13.2m)
Drop in South Korean casino workforce
Three of South Korea’s largest casino operators have seen a reduction in their workforce over the past two years due to the Covid-19 pandemic. According to a report from Yonhap News Agency, the staff at Kangwon Land, the only casino that caters to South Koreans, had a workforce of 3,858 in December, down 25 per cent from two years ago.
Meanwhile, Grand Korea Leisure Co’s workforce has fallen 10.4 per cent over the past two years. The company operates two venues in Seoul, the capital of South Korea, and one in Busan, both under the Seven Luck brand. Finally, Paradise Co Ltd saw its workforce decline 5.3 per cent in the last two years.