{"id":777002427,"date":"2023-02-15T13:15:32","date_gmt":"2023-02-15T16:15:32","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777002427"},"modified":"2026-04-23T00:36:51","modified_gmt":"2026-04-23T03:36:51","slug":"paradise-co-posts-us3m-net-loss-for-q4","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/paradise-co-posts-us3m-net-loss-for-q4","title":{"rendered":"Paradise Co posts US$3m net loss for Q4"},"content":{"rendered":"\n

The figure is an improvement from the loss the previous year but a decrease from profit in the third quarter.<\/p>\n\n\n\n\n\n\n\n

South Korea.- Paradise Co <\/strong>has shared its financial results for the fourth quarter of the year. The company has reported a net loss of KRW3.91bn (US$3m) after a KRW39.37bn profit in Q3. That was, however, an improvement on a KRW47.04bn loss in Q4 2021.<\/p>\n\n\n\n

Sales were KRW193.20bn (US$152.23m), up 2 per cent quarter-on-quarter<\/a> 73.3 per cent increase on year-on-year terms. Casino sales in the last three months of 2022 fell 17 per cent quarter-on-quarter to KRW59.31bn (US$46.74m). The figure was up 19.7 per cent when compared to the previous year.<\/p>\n\n\n\n

According to a recent filing, sales from the joint venture with Sega Sammy<\/strong> at South Korea’s Paradise City resort increased 27.7 per cent quarter-on-quarter to almost KRW100.79bn (US$79.5m). This figure represents a 186.1 per cent year-on-year increase in integrated resort sales, which include casino, hotel, and theme park sales. <\/p>\n\n\n\n

However, the cost of sales for the Paradise Sega Sammy venture increased 66 per cent year-on-year to KRW78.10bn (US$61.49m) in the fourth quarter of the year. The group’s total cost of sales reached KRW157.76bn (US$124.28m), up 15.3 per cent sequentially and 32.6 per cent yearly.<\/p>\n\n\n\n

Meanwhile, operating income for the quarter was KRW18.23bn (US$14.37m)<\/strong>, down 52.5 per cent from the preceding quarter but an improvement from the KRW20.42bn (US$16.06m) loss in the fourth quarter of 2021.<\/p>\n\n\n\n

For the full-year 2022, Paradise Co posted revenue of KRW350.68bn (US$274.5m), up 40.5 per cent compared with full-year 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

The figure is an improvement from the loss the previous year but a decrease from profit in the third quarter.<\/p>\n","protected":false},"author":176,"featured_media":16856,"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 Q4 2022 net loss of KRW3.91bn, a sequential decline from Q3 profit but a significant year-on-year improvement from Q4 2021. Total sales increased 73.3% YoY, driven by robust performance from the Paradise City integrated resort joint venture, despite a sequential dip in casino-specific sales. Operating income also improved year-on-year, indicating a recovery trajectory for the full fiscal year 2022.","focusai_entities":"Paradise Co, Sega Sammy","focusai_location":"South Korea","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IR Segment Growth Drivers","query":"What specific factors contributed to the 186.1% year-on-year increase in integrated resort sales for the Paradise Sega Sammy joint venture, and how sustainable is this growth trajectory given the sequential decline in standalone casino sales?"},{"label":"Profitability Outlook","query":"Given the sequential net loss despite significant year-on-year revenue growth, what are Paradise Co's strategic initiatives to improve net profitability and operating margins in the upcoming fiscal periods, particularly concerning cost of sales management?"}],"footnotes":""},"categories":[16338,163],"tags":[1705],"class_list":["post-777002427","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\/777002427","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=777002427"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002427\/revisions"}],"predecessor-version":[{"id":777002463,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002427\/revisions\/777002463"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16856"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777002427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777002427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777002427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}