Paradise Co June casino revenue falls by 81% year-on-year
Paradise Co, a foreigner-only casino operator in South Korea, reported its revenue fell by 81% year-on-year, down to KRW13.82bn ($11.5m) for June.
The casino’s month-on-month revenue dropped by 54%. June’s earnings didn’t reach the levels it had in May when revenue was KRW29.78bn which was boosted by expats following a four-week temporary shutdown. May’s revenue was also 51% lower compared to the same month the previous year.
Revenue from table games was KRW12.12bn, an 82% drop from KRW68bn in 2019. The group’s table drop in June declined by 79%, earning KRW119.35bn. Gaming machines brought in KRW1.70bn, falling by 56% from KRW3.87bn in 2019.
The group’s casino revenue for the first six months of 2020 is KRW205.86bn, 41% less than last year. Table revenue fell by 42%, bringing in KRW191.78bn. Accumulated gaming machine revenue dropped by 38% to KRW14.08bn.
Paradise Co has several gaming venues, including Walkerhill, Jeju Grand, Busan Casino and Paradise City. The operations were suspended mid-March but resumed work by the end of April. However, some of the non-gaming facilities in the Paradise City casino were suspended on 1 July until further notice to comply with the South Korean government’s plan to reduce the number of COVID-19 cases.
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
