{"id":777015365,"date":"2024-05-09T09:39:39","date_gmt":"2024-05-09T12:39:39","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777015365"},"modified":"2026-04-22T10:26:16","modified_gmt":"2026-04-22T13:26:16","slug":"paradise-co-posts-net-income-of-us19m-for-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/paradise-co-posts-net-income-of-us19m-for-q1","title":{"rendered":"Paradise Co posts net income of US$19m for Q1"},"content":{"rendered":"\n

Paradise Co’s income was up 271.1 per cent year-on-year.<\/p>\n\n\n\n\n\n\n\n

South Korea.-\u00a0Paradise Co\u00a0<\/strong>has reported a net income attributable to shareholders of KRW25.94bn (US$19m) for the first quarter of 2024.\u00a0The figure was up 271.1 per cent\u00a0when\u00a0compared to Q1 last year and\u00a0compares\u00a0to a net loss of KRW9.10bn in the final quarter of 2023.<\/p>\n\n\n\n

Aggregate sales were up 38.2 per cent year-on-year at KRW264.77bn. Operating profit was KRW48.40bn, up by 154.5 per cent. Earnings before interest, taxation, depreciation, and amortisation (EBITDA) was KRW68.13bn,\u00a0a 62.4 per cent increase.<\/p>\n\n\n\n

Paradise Co operates three gaming venues directly: Walkerhill in Seoul, Paradise Jeju on Jeju island, and a property in the port city of Busan. The company reported an increase in aggregate casino sales of 44.1 per cent year-on-year to KRW102.27bn.\u00a0The company also achieved its\u00a0highest\u00a0quarterly table drop.<\/p>\n\n\n\n

Sales from integrated resort operations (Paradise City in Incheon) rose 45 per cent\u00a0year-on-year\u00a0to KRW132.32bn.\u00a0Judged quarter-on-quarter, the figure was up 14.7 per cent. The figure includes casino, hotel and theme park sales. Casino sales at Paradise City reached KRW102.58bn, up 61.8 per cent\u00a0year-on-year\u00a0and 21.3 per cent sequentially.<\/p>\n\n\n\n

Paradise City generated EBITDA of KRW43.07bn,\u00a0an increase of 78.4 per cent from last year and 176.7 per cent from the preceding quarter.<\/p>\n\n\n\n

In April, Paradise Co reported revenue of KRW84.14bn (US$61.1m)<\/a>. That\u2019s a rise of 59 per cent month-on-month and 56 per cent year-on-year. For the first four months of the year, revenue was KRW290.92bn, up 54.5 per cent year-on-year. <\/p>\n\n\n\n

See also:<\/strong> South Korean casino revenue up 40.7% in 2023<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Paradise Co’s income was up 271.1 per cent year-on-year.<\/p>\n","protected":false},"author":176,"featured_media":777013109,"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 financial turnaround in Q1 2024, achieving a net income attributable to shareholders of KRW25.94bn, a 271.1% increase year-on-year, driven by robust growth across its gaming venues and integrated resort operations in South Korea. The company saw substantial increases in aggregate sales, operating profit, and EBITDA, alongside its highest quarterly table drop, indicating strong market recovery and operational efficiency.","focusai_entities":"Paradise Co","focusai_location":"South Korea, Seoul, Jeju, Busan, Incheon","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q1 GGR Drivers?","query":"What specific market factors, including VIP segment recovery or mass-market growth, contributed to Paradise Co's record table drop and significant NGR growth in Q1 2024?"},{"label":"Competitive Positioning?","query":"How do Paradise Co's Q1 results position it against regional competitors, particularly concerning integrated resort segment performance and capital allocation strategies for future growth?"}],"footnotes":""},"categories":[16338,163],"tags":[1705],"class_list":["post-777015365","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\/777015365","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=777015365"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015365\/revisions"}],"predecessor-version":[{"id":777015378,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015365\/revisions\/777015378"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777013109"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777015365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}