Casino sales in the three months from July to September were up 3.7 per cent quarter-on-quarter.<\/p>\n\n\n\n\n\n\n\n
South Korea.- Paradise Co<\/strong> has announced a net profit attributable to shareholders of KRW35.26bn (US$27m)<\/strong> for the third quarter of the year. The figure was up 19.9 per cent from the preceding quarter<\/a> but down 10.4 per cent compared to the same period in 2022. <\/p>\n\n\n\n The company said it achieved its “highest ever quarterly operating profit” at KRW57.13bn (US$3.94bn). That’s an increase of 4.1 per cent compared to the previous quarter and 49 per cent from a year ago.\u00a0Paradise Co also reported aggregate sales of nearly KRW285.58bn (US$19.74bn)<\/strong> for the third quarter, sequential growth of 3.7 per cent and a year-on-year increase of 50.7 per cent.<\/p>\n\n\n\n The company noted a quarter-on-quarter decrease of 13.8 per cent in aggregate casino sales, amounting to KRW115.81bn (US$7.89bn). The company reported earnings before interest, taxation, depreciation, and amortisation (EBITDA) of just below KRW77.13bn (US$59.33bn), up 2.8 per cent sequentially. EBITDA was up 24.9 per cent from a year ago.<\/p>\n\n\n\n Sales from integrated resort operations \u2013 from Paradise City in Incheon \u2013 rose 21.3 per cent quarter-on-quarter, to nearly KRW132.66bn (US$9.58bn). Judged year-on-year, these sales increased 68.1 per cent. <\/p>\n\n\n\n The integrated resort sales figure incorporates casino, hotel and theme park sales. Casino sales at Paradise City reached KRW97.81bn (US$6.78bn), up 19 per cent sequentially and 119.8 per cent from the prior-year period.<\/p>\n\n\n\n Paradise City EBITDA was KRW41.43bn (US$2.76bn), up 46.2 per cent quarter-on-quarter and 64.4 per cent year-on-year. Paradise Co said sales at the complex continued to grow in the third quarter, with the property\u2019s operating profit and EBITDA reaching a \u201crecord high\u201d.<\/p>\n\n\n\n