Paradise Co sees 70% profit jump in Q3 on strong casino and hotel performance
South Korea’s foreign-only casino operator saw net profit reach US$23.9m.
South Korea.- Paradise Co has reported a robust third quarter, with net profit up 70 per cent year-on-year to KRW33.4bn (US$23.9m). The growth was driven by strong casino operations and steady gains in the hotel segment.
Consolidated revenue rose 7.5 per cent year-on-year to KRW288.2bn (US$206.5m), while operating profit climbed 9.1 per cent to KRW39.5bn (US$28.3m).
The casino division, which has properties in Seoul, Busan, and Jeju, saw an 18.9 per cent increase in revenue to KRW100.4bn (US$71.9m), supported by a 2.7 point improvement in the hold rate. At Paradise City, the company’s integrated resort in Incheon jointly operated with Sega Sammy Holdings, the drop exceeded KRW1tn (US$717m) for the first time, up 9.9 per cent from a year earlier.
As of September 2025, Paradise Co.’s assets were worth KRW3.96tn (US$2.84bn), with equity of KRW2.19tn (US$1.57bn). The company’s cumulative net profit for the first nine months of the year was up 47 per cent to KRW108.9bn (US$78m).
Management credited the strong quarterly results to the rebound of high-value international visitors and improved operating leverage, particularly in casino operations, where mass drop volume reached record highs despite seasonal variations.
