Paradise Co’s income was down 50.5 per cent in year-on-year terms.<\/p>\n\n\n\n\n\n\n\n
South Korea.-\u00a0Paradise Co\u00a0<\/strong>has reported that net income attributable to shareholders was KRW14.55bn (US$10.7m) in the second quarter of the year. The figure was down 43.9 per cent quarter-on-quarter<\/a> and down 50.5 per cent when compared to the second quarter of 2023.<\/p>\n\n\n\n Aggregate sales were down 0.7 per cent year-on-year but up 3.2 per cent when compared to the previous quarter at KRW273.26bn (US$199.27m). Operating profit was KRW32.01bn (US$23.37m), down by 41.7 per cent year-on-year and 22.9 per cent sequentially. Earnings before interest, taxation, depreciation, and amortisation (EBITDA) was KRW51.89bn (US$37.84m),\u00a0a 30.8 per cent decrease in year-on-year terms and a decrease of 23.8 per cent sequentially.<\/p>\n\n\n\n Paradise Co recorded an operating profit margin of 11.7 per cent in the three months. The company attributed the decrease to increasing marketing costs.<\/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 a decrease in aggregate casino sales of 16.7 per cent year-on-year to KRW111.96bn (US$81.57m).\u00a0The figure was up 9.5 per cent quarter-on-quarter.<\/p>\n\n\n\n Sales from integrated resort operations (Paradise City in Incheon) rose 20.1 per cent\u00a0year-on-year\u00a0to KRW131.40bn (US$95.45m).\u00a0Judged quarter-on-quarter, the figure was down 0.7 per cent. Casino sales at Paradise City reached KRW102.52bn (US$74.64m), up 24.7 per cent\u00a0year-on-year\u00a0but flat sequentially.<\/p>\n\n\n\n Paradise City generated EBITDA of KRW25.08bn (US$18.27m), a decrease of 11.5 per cent from last year and 38.6 per cent lower quarter-on-quarter.<\/p>\n\n\n\n