Korean foreigner-only casino operator Paradise Co reported all-time highs for group-wide revenue and operating profit in 2025, buoyed by a strong finish to the year at its flagship integrated resort, Paradise City in Incheon.
The company reported Tuesday FY25 revenues of KRW1.15 trillion (US$789 million), up 7.3% year-on-year, and operating profit of KRW156.4 billion (US$107 million), up 14.9%, thanks largely to a significant increase in casino play from both Japanese and Chinese visitors.
The result included total sales in the three months to 31 December 2025 of KRW293.9 billion (US$202 million), up 10.5% year-on-year and 1.9% quarter-on-quarter, of which KRW156.1 billion (US$107 million) was generated at Paradise City.
Paradise Co noted that the 4Q25 revenue result at Paradise City also represented an all-time record, with mass casino drop rising 34.9% year-on—year alongside a slight improvement in hold rate. Casino revenue was up 24.8% versus 4Q24 at KRW124.4 billion (US$85.4 million).
Paradise City EBITDA of KRW25.3 billion (US$17.4 million) was also up 94.7% year-on-year although down 18.8% sequentially, with the company citing higher comp expenses, taxes and labor-related costs.
Paradise owns 55% of Paradise City, with the other 45% held by Japan’s Sega Sammy Holdings, and therefore separates the property’s results from its two wholly-owned casinos in Seoul and Busan.
Those two properties generated total sales of KRW106.0 billion (US$72.8 million) in 4Q25, down 1.7% year-on-year, on a 7.9% fall in casino drop. EBITDA of KRW5.73 billion (US$3.9 million) was down 74.1% year-on-year and 67.4% sequentially.
The company said that sales at Paradise Walkerhill in Seoul saw revenue fall 8.2% year-on-year to KRW76.9 billion (US$52.8 million) while Busan Casino grew by 29.6% in Q4 to KRW20.3 billion (US$13.9 million).
Paradise has been working to enhance its offering over the past year, pointing to a need to improve its attractiveness to international visitors given rising regional competition and the impending launch of MGM Osaka – which threatens to bite into its core Japanese customer base – in 2030.
The company recently acquired an additional 501 hotel rooms near Paradise City via the purchase of the Grand Hyatt Incheon West Tower.
It also opened a new VIP Lounge at Seoul’s Gimpo International Airport and has outlined plans to build a luxury hotel in Seoul.
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