Casino revenue was flat in year-on-year terms but down 1.3 per cent sequentially.<\/p>\n\n\n\n\n\n\n\n
South Korea.-\u00a0Paradise Co\u00a0<\/strong>has reported that revenue in October was flat year on year and down 1.3 per cent month-on-month at KRW60.29bn (US$43.9m). Table-game sales<\/strong>\u00a0were down 1.2 per cent year-on-year and 1.6 per cent sequentially at KRW55.84bn (US$40.7m).<\/p>\n\n\n\n Machine game sales\u00a0<\/strong>were KRW4.45bn (US$3.24m), up 3.4 per cent month-on-month and 16.9 per cent year-on-year. The\u00a0table drop was KRW542.37bn (US$395.2m), down 3.8 per cent when compared to the previous month and up 0.7 per cent in year-on-year terms.<\/p>\n\n\n\n Paradise Co operates four venues in its casino division: Walkerhill in Seoul, Jeju Grand on Jeju Island, Busan Casino in the southern port city of Busan, and Paradise City, near the primary international airport serving Seoul. For the first ten months of 2024, aggregate casino revenue reached KRW674.28bn (US$491.1m), up 7.9 per cent year-on-year. Revenue from table games was up 7.5 per cent year-on-year, to KRW630.42bn (US$459m), and machine-game sales rose by 13.9 per cent to KRW43.86bn (US$31.9m).<\/p>\n\n\n\n The new space for high-rollers at\u00a0Paradise Casino Walkerhill<\/strong> in Seoul is reserved for the top 1 per cent of patrons<\/strong>. The company describes it as having an elegant Art Deco design with seven private rooms, a lounge and a bar, offering \u201cpersonalised high-end services and an elevated gaming experience.\u201d<\/p>\n\n\n\n The casino\u2019s first expansion in nine years increases its size by 17 per cent, from 3,934.60 to 4,587.26 square metres. There are now 112 table games and 213 machine games. The casino operator said it expects sales in the new VIP venue to reach KRW22bn (US$16.6m) in 2025 and KRW32bn (US$24.18m) in 2026. The company plans to open a new international lounge at Gimpo Airport this month.<\/p>\n\n\n\n Choi Jong-hwan<\/strong>, Paradise Co\u2019s chief executive, said: \u201cThis expansion will bring us a critical opportunity to secure both physical infrastructure and high-roller customers, enabling us to gain significant competitive advantage as a leading casino operator.<\/p>\n\n\n\n \u201cParadise Group will continue to enhance VIP-exclusive facilities and service competitiveness across all locations, and we are committed to transforming into a smart casino by adopting new digital technologies, solidifying our position as a first mover in the market.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Casino revenue was flat in year-on-year terms but down 1.3 per cent sequentially.<\/p>\n","protected":false},"author":176,"featured_media":16522,"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 flat year-on-year revenue in October at KRW60.29bn, though year-to-date casino revenue for the first ten months of 2024 increased by 7.9%. The company has expanded its Paradise Casino Walkerhill in Seoul by 17% with a new high-roller space, projecting significant revenue growth from this VIP segment in 2025 and 2026. CEO Choi Jong-hwan emphasized securing high-roller customers, enhancing VIP facilities, and transforming into a smart casino through digital adoption.","focusai_entities":"Paradise Co, Paradise Group, Choi Jong-hwan","focusai_location":"South Korea, Seoul, Jeju Island, Busan, Gimpo Airport","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), product_ux (0.7), tech_data (0.7), marketing_crm (0.7), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.8)","focusai_suggestions":[{"label":"VIP Segment ROI","query":"What is the projected return on investment for the Paradise Casino Walkerhill expansion, specifically considering the capital expenditure versus the anticipated KRW22bn and KRW32bn sales in 2025 and 2026, respectively?"},{"label":"Digital Transformation Roadmap","query":"What specific digital technologies is Paradise Group planning to adopt for its 'smart casino' transformation, and what is the timeline for these implementations across its various properties?"}],"footnotes":""},"categories":[16338,163],"tags":[23907,1705],"class_list":["post-777020408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-land-based-casino","tag-paradise-co"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020408","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=777020408"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020408\/revisions"}],"predecessor-version":[{"id":777020439,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020408\/revisions\/777020439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16522"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777020408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777020408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777020408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Paradise Co new high-roller space<\/h2>\n\n\n\n