Korea’s Paradise Group saw its annual revenue for 2017 fall 8.6% year-on year to KRW551.9 billion (US$516.5 million), down from KRW603.8 billion (US$565 million) in the previous 12 month period.
The decline, which is based on revenue from the casino business division of its Paradise City, Walker-hill, Busan Casino and Jeju Grand properties, included a 9.2% fall in table game revenue for the year to KRW515.4 billion.
But it’s not all bad news for Paradise, with revenue for December increasing 16.7% year-on-year to KRW51.8 billion (US$48.5 million), driven by a 19.8% rise in table game revenue to KRW49.2 billion.
Although the figure was slightly down on November’s casino revenue of KRW54.3 billion (US$50.8 million), it continued an upward trend in recent months as the company’s Incheon integrated resort Paradise City, which opened in April, ramps up.
Notably, luck played a significant factor in the 2017 results with table drop actually increasing by 5.0% from KRW4.8 trillion (US$4.5 billion) in 2016 to KRW5.1 trillion (US$4.7 billion).
Table drop for December grew 3.1% year-on-year to KRW420.9 billion.
