Paradise net profits drop 86.5%, while revenues rise in Q3

In its third financial filing of the year, the South Korean-based company reported net profits of KRW1.414bn during the three months ending September 30th, which was dwarfed by the KRW10.4bn reported during the same period of 2016.

Paradise Company operating profit decreased 7.1% from KRW10.9bn in Q3 2016 to KRW10.1bn during the third quarter of 2017.

However, at the same time, company gross profits jumped 15.4% to KRW32.49bn, while earnings before interest taxation depreciation and amortisation grew 38% year-on-year to KRW27.21bn.

Sales also grew during the period, increasing by 11.9% from the KRW175.2bn reported during the third quarter of 2016 to KRW196bn during the same period of 2017. Paradise attributed this rise to a recovery in its Chinese VIP operations and positive growth in its Japanese VIP gaming areas.

Stay updated with GI

Follow Gambling Insider for independent news, analysis and industry expertise.

Add as a preferred source on Google

Robert Simmons

Gambling Writer

Robert Simmons served as a writer for Gambling Insider, where he was an active contributor from 2017 until 2018. Throughout his tenure, Robert executed in-depth market research and wrote over 500 news and press-release articles covering the global gambling industry under strict editorial standards and tight deadlines. He contributed editorial support to the production of five 100+ page Gambling Insider magazines, eight 25+ page Trafficology magazines, and five 25+ page special print focus editions. In addition, he produced 30 in-depth feature articles for print, secured over 30 contributions from external writers, and built long-standing professional relationships with industry stakeholders across all levels of the gambling sector.

Visit Profile