{"id":35287,"date":"2022-11-10T07:46:15","date_gmt":"2022-11-10T10:46:15","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=35287"},"modified":"2026-04-23T03:07:03","modified_gmt":"2026-04-23T06:07:03","slug":"paradise-co-posts-us28-7m-net-profit-for-q3","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/paradise-co-posts-us28-7m-net-profit-for-q3","title":{"rendered":"Paradise Co posts US$28.7m net profit for Q3"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Net profit was up 111.6 per cent from the previous quarter.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">South Korea.- <strong>Paradise Co&nbsp;<\/strong>has shared its financial results for the third quarter of the year. It&#8217;s reported a net profit attributable to shareholders of KRW39.37bn (US$28.7m), up 111.6 per cent&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/paradise-co-posts-us14-2m-in-net-profit-for-q2\" target=\"_blank\">when compared to the previous quarter<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company reported <strong>aggregate sales of KRW189.49bn<\/strong>, up 55.6 per cent year-on-year and up 801. per cent quarter-on-quarter.&nbsp;Casino sales grew 59 per cent year-on-year to KRW71.46bn. The figure was up 148 per cent when compared to the second quarter of the year.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company reported a<strong> KRW38.35bn operating profit<\/strong>, compared with KRW4.81bn last year. Paradise Co said the rise was aided by a rebound in its casino business, helped by the return of Japanese VIP guests.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The casino operator also said the quarterly increase in hotel accommodation sales was aided by strong domestic demand. Sales rose 44.3 per cent year-on-year and 17.6 per cent quarterly to KRW33.39bn.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Revenue from the &#8220;integrated resort&#8221; business, a joint venture with Japan&#8217;s Sega Sammy Holdings Inc. at Paradise City Resort in Incheon, rose 51.6 per cent year-on-year to just over KRW78.9bn. Subsequently, those sales increased by 74.5 per cent. Integrated resort sales figures include casino, hotel and theme park sales at Paradise City.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In June, South Korea&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/south-korea-to-reopen-its-borders-from-june-1\" target=\"_blank\">resumed issuing short-term tourist visas<\/a>&nbsp;for individual tourists and tour groups after inbound tourism was halted at the height of the Covid-19 epidemic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Net profit was up 111.6 per cent from the previous quarter.<\/p>\n","protected":false},"author":176,"featured_media":27875,"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 Q3 financial rebound, with net profit attributable to shareholders up 111.6% quarter-on-quarter to KRW39.37bn and aggregate sales increasing 55.6% year-on-year to KRW189.49bn. This robust performance was primarily driven by a strong recovery in its casino business, aided by the return of Japanese VIP guests, and sustained domestic demand for hotel accommodation within its integrated resort segment.","focusai_entities":"Paradise Co, Sega Sammy Holdings Inc.","focusai_location":"South Korea, Incheon, Japan","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"VIP Segment Outlook","query":"What is Paradise Co's projected growth trajectory for its Japanese VIP segment, and what strategic initiatives are in place to sustain this momentum amidst evolving regional competition?"},{"label":"Integrated Resort Strategy","query":"How does Paradise Co plan to leverage the strong performance of Paradise City's integrated resort model to optimize cross-vertical revenue streams and enhance shareholder value in the coming fiscal year?"}],"footnotes":""},"categories":[16338,163],"tags":[1705],"class_list":["post-35287","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\/35287","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=35287"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35287\/revisions"}],"predecessor-version":[{"id":35319,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35287\/revisions\/35319"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/27875"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=35287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=35287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=35287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}