October 7, 2020

South Korea: Paradise Co reports increased casino sales for September

South Korea: Paradise Co reports increased casino sales for September

Seoul, South Korea –Paradise Co. Ltd, South Korea’s foreigner-only casino operator reported an increase in casino sales at KRW 20.61 billion ($17.7 million), up by 19.2% but still 71.7% lower year-on-year.

September’s sales included a 72.7% decrease in table games sales to KRW 18.81 billion ($16.2 million), as well as a 54.7% decrease in slot machine sales to KRW 1.80 billion ($1.6 million), with the rate of decline slowing down in comparison to August’s sales which fell by 75% year-on-year.

Table drop for the month of September went up by 10.2% sequentially, down by 73.3% year-on-year to KRW 135.98 billion.

Paradise Co.’s revenue for the first nine months of 2020 went down by 54.0% to KRW 261.03 billion, due to the temporary shutdown of casino operations and ongoing travel bans from Covid-19.

Paradise Co. Ltd’s flagship integrated resort, Paradise City Incheon, was closed for a second time on September 1 after it was reported that a staff member tested positive for the novel coronavirus (Covid-19), with the company resuming casino operations a week later.

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