{"id":17797,"date":"2021-05-12T16:31:16","date_gmt":"2021-05-12T16:31:16","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=17797"},"modified":"2026-04-23T19:36:44","modified_gmt":"2026-04-23T22:36:44","slug":"paradise-co-posts-losses-of-us16-2m-for-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/paradise-co-posts-losses-of-us16-2m-for-q1","title":{"rendered":"Paradise Co posts losses of US$16.2m for Q1"},"content":{"rendered":"\n

Paradise Co has reported a loss of KRW18.2bn (US$16.2m) for the first quarter of the year.<\/p>\n\n\n\n\n\n\n\n

South Korea.- The casino operator\u00a0Paradise Co<\/a>\u00a0has published its financial report for the first quarter of the year, revealing a loss of KRW18.2bn (US$16.2m), compared to a net loss of KRW67.5bn during the last three months of 2019.<\/p>\n\n\n\n

Paradise Co<\/a>\u00a0is struggling with a lack of tourists and a drop in visits<\/strong>\u00a0to casino venues due to the Covid-19 pandemic.<\/p>\n\n\n\n

Paradise Co sales fell 7.1 per cent quarter-on-quarter<\/strong>\u00a0to KRW96.6bn while\u00a0casino sales came in at KRW96.6bn<\/strong>, down 31.1 per cent sequentially and 51.6 per cent year-on-year.<\/p>\n\n\n\n

Paradise City<\/strong>, Paradise Co’s casino in Incheon, reported casino sales of KRW30.2bn<\/strong>\u00a0for the first quarter, down 60.2 per cent when compared to the previous year but up 51.4 per cent sequentially.\u00a0<\/p>\n\n\n\n

EBITDA was KRW12.9bn<\/strong>, up 76.3 per cent when compared to the previous quarter (KRW7.3m) but down 59 per cent year-on-year.<\/p>\n\n\n\n

Paradise Co also operates Walkerhill in Seoul, Jeju Grand on Jeju Island <\/strong>and Busan Casino in Busan.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Paradise Co has reported a loss of KRW18.2bn (US$16.2m) for the first quarter of the year.<\/p>\n","protected":false},"author":176,"featured_media":17810,"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 reported a net loss of KRW18.2bn (US$16.2m) for Q1, a significant improvement from Q4 2019, yet indicative of persistent market challenges. The casino operator's sales declined 7.1% QoQ to KRW96.6bn, with casino sales specifically down 31.1% sequentially and 51.6% YoY, primarily due to reduced international tourism and domestic visitation stemming from the COVID-19 pandemic.","focusai_entities":"Paradise Co, Paradise City, Walkerhill, Jeju Grand, Busan Casino","focusai_location":"South Korea, Incheon, Seoul, Jeju Island, Busan","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Recovery Timeline?","query":"What is Paradise Co's projected recovery timeline for GGR and NGR, considering the ongoing tourism restrictions and vaccination rollout in South Korea?"},{"label":"Governance & Capital Strategy?","query":"How are Paradise Co's governance frameworks adapting to mitigate future market volatility, and what capital allocation strategies are being considered to bolster liquidity?"}],"footnotes":""},"categories":[161,16338,163],"tags":[23907,1705],"class_list":["post-17797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news","category-east-asia-news","category-finance-news","tag-land-based-casino","tag-paradise-co"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17797","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=17797"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17797\/revisions"}],"predecessor-version":[{"id":17830,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17797\/revisions\/17830"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17810"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=17797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=17797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=17797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}