Paradise Co posts dip in casino revenue for February

Casino revenue was down 11.5 per cent year-on-year.

South Korea.- Paradise Co has reported casino revenue of KRW70.21bn (US$48.63m) for February. That’s a decrease of 11.5 per cent in year-on-year terms and a decline of 2.3 per cent sequentially.

Table-game sales were KRW65.95bn (US$49.7m), down 11.86 per cent year-on-year and 1.7 per cent sequentially. Machine game sales were KRW4.2bn (US$2.9m), down 7.08 per cent year-on-year and 8.5 compared to January’s results. The table drop was KRW525.7bn (US$364m), up 9.3 per cent when compared to the previous month and up 7 per cent in year-on-year terms. 

For full-year 2024, the casino operator posted casino revenue of KRW818.7bn (US$558.5m), up 10.2 per cent from KRW742.9bn (US$506.7m) in 2023. Table game revenue was KRW766.7bn (US$523.2m), up 10.2 per cent in year-on-year terms. Machine game revenue was up 9.7 per cent to KRW52bn (US$35.5m). The table drop for full-year 2024 was KRW6.87tn (US$4.66bn), a rise of 11.3 per cent.

Paradise Co plans to begin construction on a new hotel in Seoul with a target opening date in 2028. The 18-floor hotel will have approximately 200 suites and five basement levels offering services for foreign VIPs as part of a broader strategy to attract more international high-rollers. It will cover 13,950 square metres. The cost of the development is estimated between KRW500 (US$360m) and KRW550 (US$400m).

Casino revenue was down 11.5 per cent year-on-year. South Korea.- Paradise Co has reported casino revenue of KRW70.21bn (US$48.63m) for February. That’s a decrease of 11.5 per cent in year-on-year terms and a…