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Paradise Casino revenue down 8.6% in FY2017

By Robert Simmons
South Korean casino operator Paradise Co Ltd has reported an 8.6% year-on-year decline in its full-year revenues for 2017.

In its final filing for the financial year to the Korean stock exchange, the company reported revenue of KRW551.86bn in 2017, down from the KRW603.75bn reported during the financial year 2016.

Revenue received from table games decreased by 9.2% year-on-year from KRW567.81bn in FY2016 to KRW515.42bn for the 2017 financial year.

Bucking the general decline was revenue from slot and gaming machines, which increased by 1.4% year-on-year to KRW36.45bn from its previous full-year 2016 total of KRW35.94bn.

Additionally, the amount of cash exchanged for chips by customers at the tables (known as table drop), rose year-on-year by 5% to KRW5.08 trillion for the full-year 2017.

These latest casino figures are based on the results of four venues that the business operates in its casino business division. The venues are: Walkerhill in Seoul; Jeju Grand on Jeju Island; Busan Casino in the southern port city of Busan; and Paradise City (pictured), in Incheon, adjacent to the main international airport serving the country’s capital Seoul.

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