{"id":777013224,"date":"2024-02-16T08:33:02","date_gmt":"2024-02-16T11:33:02","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777013224"},"modified":"2026-04-22T12:56:07","modified_gmt":"2026-04-22T15:56:07","slug":"paradise-co-reports-net-profit-of-us11m-for-q4","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/paradise-co-reports-net-profit-of-us11m-for-q4","title":{"rendered":"Paradise Co reports net profit of US$11m for Q4"},"content":{"rendered":"\n

Casino sales were up 58.8 per cent year-on-year.<\/p>\n\n\n\n\n\n\n\n

South Korea.-\u00a0Paradise Co<\/strong>\u00a0has shared its financial results for the three months to December 31. The casino operator reported a net profit attributable to shareholders of KRW14.7bn (US$11m), down 74 per cent\u00a0when compared to the previous quarter<\/a> and down 8 per cent in year-on-year terms.<\/p>\n\n\n\n

The company reported KRW5.2bn (US$3.9m) in losses <\/strong>and sales of nearly KRW241.8bn (US$181.5bn)<\/strong>, down 15.3 per cent quarter-on-quarter. Revenue from casino sales amounted to nearly KRW93.84bn (US$70.4m), up 58 per cent from the previous year but down 19 per cent from the previous quarter.\u00a0<\/p>\n\n\n\n

The drop reached KRW757bn (US$568,9m) for Japanese players and KRW302bn (US$226.9m) for Chinese players. Sales from integrated resort operations \u2013 from Paradise City in Incheon \u2013 decreased 13 per cent quarter-on-quarter and 14.5 per cent year-on-year to nearly KRW115.3bn (US$86.6bn).<\/p>\n\n\n\n

Paradise City generated EBITDA of KRW15.56bn (US$11.6m), down 56.5 per cent quarter-on-quarter and down 43.8 per cent in year-on-year terms.<\/p>\n\n\n\n

For full year 2023,\u00a0the casino operator posted a revenue of KRW744,15bn (US$567.8m)<\/a>, up 112.8 per cent compared with full-year 2022.\u00a0Table game revenue was KR696.70bn (US$534.1m), up 118.8 per cent in year-on-year terms. Machine game revenue was up 51.9 per cent to KRW47.5bn (US$36.4m). The table drop for full-year 2023 was just over KRW6.17tn, a rise of 114.2 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"

Casino sales were up 58.8 per cent year-on-year.<\/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 Q4 net profit of KRW14.7bn (US$11m), marking a 74% QoQ and 8% YoY decline, with overall sales down 15.3% QoQ. While casino sales saw a 58% YoY increase, integrated resort operations, including Paradise City, experienced QoQ and YoY decreases in sales and EBITDA. For the full year 2023, the operator achieved a robust 112.8% revenue growth, reaching KRW744.15bn (US$567.8m), driven by significant increases in table game revenue and table drop.","focusai_entities":"Paradise Co, Paradise City","focusai_location":"South Korea, Incheon","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"QoQ Decline Drivers?","query":"What specific market or operational factors contributed to the significant quarter-on-quarter decline in net profit and integrated resort sales for Paradise Co, despite strong year-on-year casino revenue growth?"},{"label":"Strategic Diversification Impact?","query":"How do the differing performance trends between casino sales (strong YoY growth) and integrated resort operations (YoY decline) impact Paradise Co's long-term strategic diversification and capital allocation plans?"}],"footnotes":""},"categories":[16338,163],"tags":[1705],"class_list":["post-777013224","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\/777013224","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=777013224"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013224\/revisions"}],"predecessor-version":[{"id":777013249,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013224\/revisions\/777013249"}],"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=777013224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777013224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777013224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}