{"id":21852,"date":"2021-08-23T13:34:25","date_gmt":"2021-08-23T16:34:25","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=21852"},"modified":"2026-04-23T16:23:17","modified_gmt":"2026-04-23T19:23:17","slug":"paradise-casino-walkerhill-in-seoul-closes-for-24-hours","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/paradise-casino-walkerhill-in-seoul-closes-for-24-hours","title":{"rendered":"Paradise Casino Walkerhill in Seoul closes for 24 hours"},"content":{"rendered":"\n

The casino operator Paradise Co has announced the closure of its venue in Seoul for 24 hours although it hasn’t confirmed if the closure is related to the Covid-19 pandemic.<\/p>\n\n\n\n\n\n\n\n

South Korea.- The casino operator\u00a0Paradise Co has announced the closure of the Paradise Casino Walkerhill\u00a0<\/strong>in Seoul from today until at least 3pm tomorrow (August 24).<\/p>\n\n\n\n

The company has not disclosed the reason for the closure<\/strong> or whether it is related to Covid-19. Paradise Co previously closed Paradise Casino Walkerhill from August 14 to 17 as a result of confirmed Covid-19 cases.<\/p>\n\n\n\n

The Ministry of Health has reported\u00a01,418 new Covid-19 cases in the last 24 hours<\/strong>, and authorities have extended current social distancing curbs for two weeks.<\/p>\n\n\n\n

Paradise Co posts a net loss of KRW31.88bn in Q2<\/h2>\n\n\n\n

The casino operator<\/a> has posted a net loss of KRW31.88bn for the second quarter. Net income stood at KRW18.91 bn (US$16.4m)<\/strong>.<\/p>\n\n\n\n

The company said it\u00a0benefited from the disposal of an office building<\/strong>\u00a0linked to its Busan casino property, which brought \u201cone-off gains.\u201d Casino sales fell 14 per cent year-on-year to KRW30.58bn and 19.2 per cent quarter-on-quarter, mainly due to the\u00a0Covid-19 pandemic.<\/strong>\u00a0<\/p>\n\n\n\n

Aggregate sales were down 12.4 per cent quarter-on-quarter to KRW84.65bn but up 13.4 per cent when compared to 2020. Hotel services revenue\u00a0jumped 79.8 per cent year-on-year\u00a0<\/strong>and 39.1 per cent sequentially, driven by strong local demand.<\/p>\n\n\n\n

Aggregate sales at Paradise City were up 22.3 per cent year-on-year\u00a0<\/strong>to KRW31.81bn while casino sales dropped by 12.9 per cent when compared to the previous year to KRW12.93bn. Casino revenue was down 53.9 per cent.<\/p>\n\n\n\n

Earnings before interest, taxation, depreciation, and amortisation (EBITDA) for the second quarter were negative KRW2.54bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

The casino operator Paradise Co has announced the closure of its venue in Seoul for 24 hours although it hasn’t confirmed if the closure is related to the Covid-19 pandemic.<\/p>\n","protected":false},"author":176,"featured_media":0,"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 has announced a temporary 24-hour closure of its Paradise Casino Walkerhill in Seoul, potentially linked to rising COVID-19 cases and extended social distancing measures in South Korea. Concurrently, the operator reported a Q2 net loss of KRW31.88bn, primarily driven by a significant decline in casino sales due to the pandemic, despite some one-off gains from asset disposal and growth in hotel services.","focusai_entities":"Paradise Co, Paradise Casino Walkerhill, Ministry of Health","focusai_location":"Seoul, South Korea, Busan","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q3 Outlook for Paradise?","query":"Given the extended social distancing measures and continued operational disruptions, what is the projected GGR and NGR outlook for Paradise Co in Q3, and what mitigating strategies are in place to address ongoing pandemic impacts?"},{"label":"Impact on South Korean Market?","query":"How do Paradise Co's Q2 financial performance and operational challenges reflect the broader market conditions for land-based casinos in South Korea, particularly concerning VIP segment recovery and regulatory responses to public health crises?"}],"footnotes":""},"categories":[28,16333],"tags":[23907,1705],"class_list":["post-21852","post","type-post","status-publish","format-standard","hentry","category-casino-news","category-south-east-asia-news","tag-land-based-casino","tag-paradise-co"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21852","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=21852"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21852\/revisions"}],"predecessor-version":[{"id":21898,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21852\/revisions\/21898"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=21852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=21852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=21852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}