South Korea’s leading foreigner-only casino operator, Paradise Co, reported casino revenue of KRW42.7 billion (US$32.6 million) in March – a 130% increase over March 2022.
While the March 2023 figure was 3.8% lower than February, Paradise was negatively impacted by luck with table drop amount up 17.4% sequentially and 226% year-on-year to KRW425.4 billion (US$325 million). The company’s bad luck was felt purely via its table games, where revenue fell by 7.0% month-on-month to KRW39.1 billion (US$29.9 million). By contrast, machine revenue increased by 54.1% over February to KRW3.63 billion (US$2.8 million).
For the first three months of 2023, Paradise Co saw its casino revenue climb 152% year-on-year to KRW135.2 billion (US$103 million), while table drop grew by 252% to KRW1.26 trillion (US$962 million).
It is the second foreigner-only casino operator to report further gains in March with Grand Korea Leisure announcing on Monday that its casino revenues grew by 30.2% year-on
Paradise Co operates integrated resort Paradise City in Incheon, plus Paradise Walkerhill in Seoul, Jeju Grand and Busan Casino Paradise.
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