Paradise Co. sales down 75% in August

Financial results show a 75 per cent year-on-year drop in casino sales for the South Korean operator. 

South Korea.- South Korean casino operator Paradise Co. posted revenues of KRW17.30 billion (US$14.6 million) for August, down only 0.5 per cent on July and 75 per cent below August 2019.

Table game revenue was flat month-on-month according to Monday’s filing, at KRW15.41 billion (US$12.9 million), which is a 76.6 per cent fall on 2019’s figures.

Machine game revenues fell 43.3 per cent year-on-year, and 3.3 per cent since July, to KRW1.90 billion (US$1.5 million).

Taking into account the calendar year through August, casino revenues at Paradise Co. totalled KRW240.44 billion (US$202.4 million), down 51.4 per cent against the same period in 2019.

Paradise Co.’s casino in Incheon, Paradise City, remains closed due to a spike in Covid-19 cases in the area. The company also operates properties in Seoul, Jeju Island and Busan.