South Korea’s Casino Operator Paradise Co Reports 15.4 Percent Increase In Revenue For October

South Korea’s Casino Operator Paradise Co Reports 15.4 Percent Increase In Revenue For October

Top South Korean casino operator, Paradise Co reported a strong performance for October. The company posted a 15.4 percent increase in revenue to KRW80.90 billion (US$69.8 million).

October’s revenue growth also marks the eighth consecutive month of increased revenue for Paradise.

Increased revenue from table games helped Paradise post the figures. The gambling operator grossed KRW76.92 billion in revenue from table games for October. The figure represents a14.6% year-on-year increase in revenue and 11.6% sequentially.

The gambling operator’s EGM revenue jumped 34.3% year-on-year to KRW3.98 billion.

Paradise Co operates four casinos in Korea – Paradise Walker-hill, Jeju Grand, Busan Casino, and Paradise City.

Earlier in the year, Paradise had inked a partnership deal with junket operator Suncity Group. In 2018 the gambling operator had posted a 19.7 percent drop in the fourth quarter revenue.

Foreigner only casinos have been performing well in the country. The figures released by the National Gambling Control Commission, confirms that revenue from foreigners-only casinos has jumped from KRW1.21 trillion in 2017 to KRW1.63 trillion ( US$1.38 billion approx) in 2018.

The revenue from foreigners-only casinos contributed 7.26 percent of the entire gambling revenue generated by Korean casinos in 2018.

Moreover, the number of visitors at the foreigners-only casinos in Korea increased from 2.22 million visits in 2017 to 2.84 million visits.

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