The South Korean casino operator has revealed its financial results for the final month of 2020.<\/p>\n\n\n\n\n\n\n\n
South Korea.- The operator of foreigner-only casinos in South Korea, Paradise Co Ltd, has revealed that December casino revenue reached KRW42.22bn (US$38.9m), representing a 40 per cent year on year decline. <\/p>\n\n\n\n
Paradise Co\u2019s latest monthly results took the group\u2019s casino revenue for full-year 2020 to KRW335.29bn marking a 57.2 percent decrease on the KRW784.06bn generated in 2019. <\/p>\n\n\n\n
The company operates the following venues: Walkerhill in the South Korean capital, Seoul; Jeju Grand on Jeju Island; Busan Casino in the southern port city of Busan; and Paradise City, in Incheon, near the main international airport serving the country\u2019s capital Seoul.<\/p>\n\n\n\n
Its Walkerhill gaming venue generated the highest casino sales at over KRW173.7 billion for the full year 2020. <\/p>\n\n\n\n
It was forced to close on 15 December as part of the Covid-19 countermeasures mandated by the government. It reopened at 7am on Monday 4 January but under strict protocols that include requesting all incoming customers to show evidence of a negative test for Covid-19 which must come from either a recognised health agency or a hospital.<\/p>\n\n\n\n
According to the filing, December\u2019s table game revenue for Paradise Co was up 411.3 per cent sequentially to approximately KRW40.82bn although that still represented a 38.5 per cent decline when compared to December 2019. <\/p>\n\n\n\n
The group\u2019s table game revenue for full-year 2020 reached KRW310.41bn, down by 58 per cent year-on-year<\/p>\n\n\n\n
Machine game revenue for December was down 22.3 per cent month-on-month at nearly KRW1.4bn but was down 57.3 per cent year-on-year. <\/p>\n\n\n\n
The group\u2019s machine game revenue for full-year 2020 was KRW24.88bn, down 44.4 per cent year-on-year.<\/p>\n","protected":false},"excerpt":{"rendered":"
The South Korean casino operator has revealed its financial results for the final month of 2020.<\/p>\n","protected":false},"author":2,"featured_media":13085,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Paradise Co Ltd, a South Korean foreigner-only casino operator, reported a significant 40% year-on-year decline in December 2020 casino revenue, reaching KRW42.22bn. Full-year 2020 casino revenue plummeted 57.2% to KRW335.29bn, primarily due to COVID-19 countermeasures, including venue closures and stringent reopening protocols requiring negative test results for entry.","focusai_entities":"Paradise Co Ltd","focusai_location":"South Korea, Seoul, Jeju Island, Busan, Incheon","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.8), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"FY2021 Revenue Projections?","query":"Given the Q4 2020 performance and ongoing COVID-19 protocols, what are Paradise Co Ltd's revised GGR and NGR projections for FY2021, factoring in the foreigner-only market segment?"},{"label":"Operational Cost Adjustments?","query":"How has Paradise Co Ltd adjusted its operational cost structure and capital expenditure plans in response to the sustained revenue decline and new health compliance requirements?"}],"footnotes":""},"categories":[160,28,163,16334],"tags":[12436,1705],"class_list":["post-13082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-finance-news","category-south-asia-news","tag-casinos","tag-paradise-co"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=13082"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13082\/revisions"}],"predecessor-version":[{"id":13096,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13082\/revisions\/13096"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/13085"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=13082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=13082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=13082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}