Paradise Co casino sales fall 6.1% in May

South Korean foreigner-only casino operator Paradise Co has reported a 6.1% month-on-month decline in casino revenue to KRW13.88 billion in May as the COVID-19 pandemic continues to suppress its business.

The figure is also 53.4% lower than May 2020 when the company’s four casinos combined for casino sales of KRW29.77 billion. Paradise operates Walkerhill in Seoul, Jeju Grand, Busan Casino and Incheon integrated resort Incheon Paradise City.

For the first five months of 2021 combined, casino revenue is down 49.6% year-on-year to KRW96.73 billion (US$74.0 million) and table drop down 51.7% to KRW679.08 billion (US$484.4 million).

May table drop of KRW136.10 billion was 27.1% lower than in May 2020 and 17.8% lower than April 2021.

Paradise recently reported a loss of KRW18.20 (US$16.1 million) in 1Q21 following a FY2020 loss of KRW109.85 billion (US$98.4 million) in 2020.

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