Paradise Co June casino revenue falls by 81% year-on-year

By Violeta Prockyte

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 WalkerhillJeju 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. 

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