Paradise Co. sees 7.3% monthly increase in July revenue; but down year-on-year
Revenue for July 2024 amounted to KRW62bn (US$45m), compared to its June revenue at KRW57.8bn.
Paradise Co, one of South Korea’s licensed foreigner-only casinos, has reported its casino revenue for July 2024, which amounted to KRW62bn (US$45m).
Compared to its June 2024 revenue at KRW57.8bn, this represents a 7.3% increase. Yet this is a 1.3% decrease year-on-year July 2023.
However, total revenue from Jan-July 2024 amounted to KRW481.37bn, a 16.3% increase compared to Jan-July 2023 at KRW413.83bn.
Both table games and machine games saw the increase, in which table games earned KRW450.98bn, while machine games took in KRW30.39bn of revenue in 2024, compared to KRW387.95bn and KRW25.88bn for both in Jan-July 2023.
The above numbers included revenue from the company’s casino business division, which included Walkerhill, Jeju, Incheon Paradise City and Busan Casino; these occupied 74.7% of consolidated sales and 96.5% of separated sales in 2023.
Earlier in July, Paradise Co. announced plans to renovate its main casino hotel, Paradise Casino Walkerhill in Seoul. The plans include adding a VIP zone to its facilities by September this year, with 383.3 sq metres (4,123 sq feet) of space.
On another note, Macau and one of its major concessionaires, MGM China, also saw increases in its Q2 report.
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