Paradise Co. sales show monthly improvement

The firm operates four foreigner-only casinos in South Korea.
The firm operates four foreigner-only casinos in South Korea.

Revenues for the first seven months of 2020 remain 47.5 per cent below the same period in 2019.

South Korea.- The foreigner-only casinos operator Paradise Co has reported a 26.3 per cent monthly uptick in July’s revenues.

The figure remained 76.4 per cent below revenue for July 2019, but offers a slight recovery after June’s  81 per cent year-on-year loss.

July revenues totalled KRW17.36 billion (US$14.6 million), down from KRW73.69 billion (US$62.1 million) in the same month last year.

Table games revenue reached KRW15.40 billion (US$12.9 million) in July, up 27.9 per cent since June but down 78 per cent year-on-year. Machine game revenue was KRW1.96 billion (US$1.6 million), showing a monthly increase of 15.6 per cent and a 46.2 drop on 2019.

Paradise Co. operates Walkerhill in Seoul, Jeju Grand on Jeju Island, Busan Casino in Busan and Paradise City in Incheon.

Gaming operations were suspended due to lockdown measures in South Korea on March 24. The casino on Jeju Island reopened on July 13 and the rest followed a week later.

For the first seven months of 2020, revenues for the South Korean operator were KRW223.13 billion (US$118.16 million), 47.5 per cent below the same period in 2019.

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