Paradise Co reports Q3 results
The South Korean operator suffered a big loss as it reported a 86.5 percent fall in net profit.
South Korea.- Paradise Co, casino operator from South Korea, has reported its third quarter results from 2017, which indicate an 86.5 percent decrease to US$1.2 million when compared to the same three month period last year.
As the operator said, total sales managed to achieve relatively good results as they increased 11.9 percent to US$175 million, with casino sales also mirroring the performance to US$139.5 million, a 5.3 percent increase during the period ended September 30. Nevertheless, sales cost increased 11.2 percent to US$146 million, up from the US$131 million registered during the same period in 2016.
Moreover, earnings before interest, taxes, depreciation and amortization (EBITDA) totaled US$24 million, a 38 percent hike. The company believes that the rise in casino sales was driven by an increase in Chinese VIP activity and a solid growth from Japanese VIP.
