Paradise Co improves its second quarter results

Paradise Co Ltd recovered from last year's results. (Credits: hellokpop.com)

The South Korean operator reported a net loss of US$1.5 million, way less than the US$17.4 million posted in the same period in 2017.

South Korea.- Casino operator Paradise Co Ltd revealed its results for the second quarter of 2018 and reported way better results than the same period from last year. According to the company’s financial report, its net loss was reduced from US$17.4 million (2Q18) to approximately US$1.5 million this year.

In addition, the company reported net profit of nearly US$2.7 million, while accumulated profit for the six months to June 30 reached the US$1.2 million mark. According to the casino operator, higher sales were the main driver of the period’s improvement as total revenue from sales rose by 29.4 per cent year-on-year, to nearly US$161 million in the second quarter.

Furthermore, Paradise Co posted an operating loss of US$59,000 for the second quarter of 2018, compared to a year earlier, when it reached US$24 million, while casino sales were worth US$131.1 million, up 27.9 per cent from the prior-year period.

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