Korea’s leading foreigner-only casino operator Paradise Co Ltd has seen its casino revenue soar by 65.9% year-on-year to KRW57.6 billion (US$51.4 million) in June as the company’s recent resurgence continues.
Paradise’s latest monthly results improve upon a 25.2% year-on-year increase in May to KRW51.8 billion, with the June figures also representing 11.1% sequential growth.
Table games were the primary source of growth in June, with revenue up 71.8% on the same month last year to KRW54.6 billion and up 15.2% on May numbers. Slot machine revenue declined 33.3% sequentially to KRW3.0 billion, a slight 0.2% increase on June 2017 levels.
The strong overall results mean that for the first six months of 2018, Paradise Co’s revenue has grown by 23.7% to KRW296.3 billion (US$264.5 million) following a tough 2017 in which sales were hit hard by a Chinese government ban on tour groups to Korea. Paradise Co, which launched the country’s first IR in April 2017 in Incheon and also operates Walkerhill casino in Seoul, Jeju Grand in Jeju and Busan Casino in Busan, subsequently saw its group-wide revenue fall 8.6% in 2017 to KRW551.9 billion (US$516.5 million), down from KRW603.8 billion (US$565 million) in 2016.
In its filing to the Korea Exchange on Thursday, the company also revealed an 18.3% increase in table drop for the first six months of 2018 to KRW2.75 trillion.
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