{"id":24214,"date":"2021-11-04T10:57:57","date_gmt":"2021-11-04T13:57:57","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=24214"},"modified":"2026-04-23T14:09:10","modified_gmt":"2026-04-23T17:09:10","slug":"paradise-co-revenue-up-125-1-in-october","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/paradise-co-revenue-up-125-1-in-october","title":{"rendered":"Paradise Co revenue up 125.1% in October"},"content":{"rendered":"\n

Paradise Co has reported that grew 125.1 per cent month-on-month, from KRW9.55bn (US$8.04m) to KRW21.35bn (US$18.1m) in October.<\/p>\n\n\n\n\n\n\n\n

South Korea.- The casino operator\u00a0Paradise Co has reported that revenue for October was up 125.1<\/strong>\u00a0per cent month-on-month from KRW9.55bn (US$8.04m) to KRW21.35bn (US$18.1m.\u00a0Table revenue grew from KRW7.84bn to KRW19.65bn, up 153 per cent when compared to September but down 3.7 year-on-year.<\/p>\n\n\n\n

Machine game revenue<\/strong>\u00a0reached almost KRW1.70bn, down 1 per cent when compared to the previous month (KRW1.72bn) and down 13 per cent year-on-year. <\/p>\n\n\n\n

In September,\u00a0Paradise Co<\/a>\u00a0revenue plummeted 84 per cent month-on-month due to restrictions related to the Covid-19 pandemic. For the first ten months of the year,\u00a0Paradise Co\u2019s revenue was\u00a0<\/strong>KRW209.9bn, down 25.7 per cent.<\/p>\n\n\n\n

Paradise Co credit rating downgraded<\/h2>\n\n\n\n

Paradise Co<\/a>\u00a0<\/strong>has had its credit rating downgraded because of the Covid-19 pandemic and slow performance during the first half of the year. <\/p>\n\n\n\n

The company which operates casino venues in Seoul, Busan, Jeju and Incheon posted KRW181.3bn in sales and an operating loss of KRW39.6bn during the first half. Paradise Co also posted a net loss of KRW31.88bn for the second quarter, while net income stood at\u00a0KRW18.91 bn (US$16.4m)<\/strong>.<\/p>\n\n\n\n

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>\u00a0Aggregate sales were down 12.4 per cent quarter-on-quarter to KRW84.65bn but up 13.4 per cent when compared to 2020.<\/p>\n\n\n\n

According to analysts, the lack of tourists due to travel restrictions has deeply affected the casino revenues and contributed to the decrease in sales.<\/p>\n","protected":false},"excerpt":{"rendered":"

Paradise Co has reported that grew 125.1 per cent month-on-month, from KRW9.55bn (US$8.04m) to KRW21.35bn (US$18.1m) in October.<\/p>\n","protected":false},"author":176,"featured_media":20202,"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 125.1% month-on-month revenue increase to KRW21.35bn in October, primarily driven by table game performance, yet its year-to-date revenue remains down 25.7%. The casino operator's credit rating was downgraded due to sustained operational losses and reduced tourist traffic stemming from Covid-19 restrictions, impacting its venues across South Korea.","focusai_entities":"Paradise Co","focusai_location":"South Korea, Seoul, Busan, Jeju, Incheon","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Credit Rating Impact?","query":"What specific covenants or financing implications arise from Paradise Co's credit rating downgrade, and how might this affect future capital expenditure or debt refinancing strategies?"},{"label":"Revenue Recovery Outlook?","query":"Given the month-on-month GGR recovery in October, what are the projected timelines and key performance indicators for Paradise Co to return to pre-pandemic revenue levels, particularly concerning international tourist arrivals?"}],"footnotes":""},"categories":[16338,163],"tags":[1705],"class_list":["post-24214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-paradise-co"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24214","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=24214"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24214\/revisions"}],"predecessor-version":[{"id":24231,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24214\/revisions\/24231"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20202"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}