{"id":22287,"date":"2021-09-03T13:37:15","date_gmt":"2021-09-03T16:37:15","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22287"},"modified":"2026-04-23T15:59:36","modified_gmt":"2026-04-23T18:59:36","slug":"paradise-co-revenue-up-762-1-in-august","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/paradise-co-revenue-up-762-1-in-august","title":{"rendered":"Paradise Co revenue up 762.1% in August"},"content":{"rendered":"\n

Paradise Co has shared its financial results for August, reporting that casino revenue rocketed 762.1 per cent month-on-month to KRW59.49bn (US$51.4m).<\/p>\n\n\n\n\n\n\n\n

South Korea.- The casino operator\u00a0Paradise Co has reported that revenue for August was up\u00a0762.1\u00a0per cent<\/strong>\u00a0month-on-month from KRW6.95bn (US$6.04m) to KRW59.49bn (US$51.4m).\u00a0Revenue was up 244 per cent<\/strong>\u00a0year-on-year.<\/p>\n\n\n\n

The company said the rise was mainly due to an increase in table revenue in August. The previous month, the company was\u00a0deeply affected by the government Covid-19 countermeasures\u00a0<\/strong>and “Level 4” social distancing rules<\/a>\u00a0in the Seoul and Incheon.<\/p>\n\n\n\n

Table revenue was up 1053.3 per cent when compared to the previous month<\/strong>, from KRW5.03bn to KRW57.49bn. The figure was also up 273.4 per cent year-on-year. Machine game revenue<\/strong>\u00a0reached almost KRW2.0bn, up 4.2 per cent from the previous month and up 5.3 per cent when compared to the previous year.<\/p>\n\n\n\n

The company saw a rise in revenue despite the temporary closure of its\u00a0Paradise Casino Walkerhill<\/a>\u00a0<\/strong>in Seoul in August.<\/p>\n\n\n\n

For the first eight months of the year,\u00a0Paradise Co\u2019s revenue was\u00a0<\/strong>KRW178.95bn, down 25.6 when compared to the same period in 2020 when it reached KRW240.45bn. Between January and August,\u00a0table revenue was down 26.6 per cent\u00a0<\/strong>to KRW163.28bn.<\/p>\n\n\n\n

In July,\u00a0Paradise Co<\/a>\u00a0reported that revenue was down 56.3 per cent<\/strong>\u00a0month-on-month from KRW15.89bn to KRW6.95bn (US$6.04m).<\/p>\n\n\n\n

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

Paradise Co 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 benefited from the disposal of an office building<\/strong> linked 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 Covid-19 pandemic.<\/strong> <\/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 jumped 79.8 per cent year-on-year <\/strong>and 39.1 per cent sequentially, driven by strong local demand.<\/p>\n","protected":false},"excerpt":{"rendered":"

Paradise Co has shared its financial results for August, reporting that casino revenue rocketed 762.1 per cent month-on-month to KRW59.49bn (US$51.4m).<\/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 reported a significant 762.1% month-on-month increase in August casino revenue, reaching KRW59.49bn, primarily driven by a surge in table game revenue despite ongoing COVID-19 restrictions and a temporary casino closure. This rebound follows a challenging July and contrasts with a Q2 net loss of KRW31.88bn, partially offset by one-off gains from asset disposal. Year-to-date revenue remains down 25.6% compared to 2020.","focusai_entities":"Paradise Co","focusai_location":"South Korea, Seoul, Incheon, Busan","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), operator_casino (0.95), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"August Revenue Drivers","query":"What specific high-roller segments or marketing initiatives contributed to the exceptional 1053.3% month-on-month increase in table game revenue for Paradise Co in August, particularly given the temporary closure of Paradise Casino Walkerhill?"},{"label":"Q2 Loss Mitigation","query":"Beyond the reported one-off gain from the Busan office building disposal, what operational cost efficiencies or non-gaming revenue streams did Paradise Co leverage to mitigate the Q2 net loss of KRW31.88bn amidst declining casino sales?"}],"footnotes":""},"categories":[16338,163],"tags":[23907,1705],"class_list":["post-22287","post","type-post","status-publish","format-standard","hentry","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\/22287","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=22287"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22287\/revisions"}],"predecessor-version":[{"id":22323,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22287\/revisions\/22323"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}