The South Korean casino operator\u2019s revenue was up 40.5 per cent year-on-year.<\/p>\n\n\n\n\n\n\n\n
South Korea.- Paradise Co<\/strong> has shared its financial results for full-year 2022. It posted revenue of KRW350.68bn (US$274.5m)<\/strong>, up 40.5 per cent compared with full-year 2021. The improvement included a 60.7 per cent year-on-year increase in revenue in December to KRW47.9bn (US$37.5m)<\/strong>, up 21.6 per cent compared to the previous month<\/a>.<\/p>\n\n\n\n Table game sales<\/strong> for December rose 25.8 per cent month-on-month, to just above KRW44.88bn (US$35m). Machine game sales<\/strong> were just under KRW2.99bn, down 19 per cent month-on-month. Table drop<\/strong> in December was 27.4 per cent higher than in November at KRW467.7bn (US$366m)<\/p>\n\n\n\n Paradise Co\u2019s table game sales in 2022 were KRW319.44bn, a 40.9-per cent increase year-on-year. Machine game sales were KRW31.24bn, up 36.6 per cent from 2021. The firm\u2019s casino drop \u2013 the amount paid by customers to purchase chips \u2013 was up 68.5 per cent year-on-year, at KRW2.88tn (US$2.25bn).<\/p>\n\n\n\n Paradise operates Paradise Walkerhill in Seoul, Jeju Grand, Busan Casino Paradise and Paradise City in Incheon.<\/p>\n\n\n\n In the third quarter<\/a>, it reported a net profit attributable to shareholders of KRW39.37bn (US$28.7m), up 111.6 per cent from the previous quarter<\/a>, and an operating profit of KRW38.35bn, 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","protected":false},"excerpt":{"rendered":" The South Korean casino operator\u2019s revenue was up 40.5 per cent year-on-year.<\/p>\n","protected":false},"author":226,"featured_media":15430,"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 40.5% year-on-year revenue increase for full-year 2022, reaching KRW350.68bn, driven by a significant 68.5% rise in casino drop. This robust performance, particularly in table games, was attributed to the rebound in its casino business and the return of Japanese VIP guests. The operator also posted strong Q3 net and operating profits, indicating a positive trajectory for its South Korean properties.","focusai_entities":"Paradise Co","focusai_location":"South Korea, Seoul, Jeju, Busan, Incheon","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"VIP Segment Outlook","query":"What is Paradise Co's strategic outlook for sustaining the high-margin Japanese VIP segment, particularly concerning potential regulatory shifts or competitive pressures in regional markets?"},{"label":"Vertical Performance Discrepancy","query":"How does Paradise Co plan to address the divergent performance between table game sales and the month-on-month decline in machine game sales, and what product roadmap adjustments are anticipated for the latter vertical?"}],"footnotes":""},"categories":[163,16333],"tags":[1705],"class_list":["post-777001306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-paradise-co"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001306","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777001306"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001306\/revisions"}],"predecessor-version":[{"id":777001308,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001306\/revisions\/777001308"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15430"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777001306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777001306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777001306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}