Paradise Co GGR drops 60%

South Korea casino operator Paradise sees casino revenues drop to just €14.3million due to the Covid-19 outbreak.

South Korea.- Casino operator Paradise Co. has revealed a 60.5 per cent year on year drop in casino revenue in March casino due to the impact of the global Coronavirus pandemic.

Sales from its casino division amounted to KRW19.73 billion (€14.3million), with both table and machine performances down over 60 per cent during the month.

Paradise Co. started the year strong despite the Coronavirus crisis impacting the sector, recording a casino revenue rise of 16.2 per cent year-on-year in February, reaching KRW64.3 billion (€47.8million), driven by table games revenues.

In late March, however, Paradise Co. announced the shutdown of its four foreigner-only casinos in Seoul, Incheon, Jeju, and Busan for two weeks as a measure to help prevent the spread of Covid-19 infection.