Paradise Co reported negative results
South Korean gaming company Paradise Co closed its monthly operations with negative results.
South Korea.- Gaming revenue in South Korea market has failed to accomplish the expected results by the operator Paradise Co. During the first six months of the year, the company perceived a 20.7 percent drop in its financial results, as Paradise Co reported to the Korea Exchange yesterday.
Paradise Co operates four international casinos in Seoul, Jeju Island, Busan and Incheon. Under the South Korean legislators, its four casinos (Walkerhill, Jeju Grand, Busan Casino and Paradise City) are only open for foreign public. As the Asian casino market is growing with the Philippine, Chinese and Japanese expansion, among others, South Korean activities could be jeopardised by the competition.
Paradise Co revealed that its fours casinos generated US$210.3 million in the first half of 2017, which represents negative perspective compared to 2016’s reports. Whilst table games fell 21.6 percent year-on-year, slot machines sales announced a slight drop of 5.4 percent on the same period.
