South Korea’s Paradise Co suffers 26% decline in casino sales in 2021

South Korea’s leading foreigner-only casino operator, Paradise Co, reported a 25.7% year-on-year decline in casino sales to KRW249.76 billion (US$208.3 million) in 2021, despite a strong finish to the year in December.

According to the company’s final monthly revenue report of the year, December casino sales climbed 203.0% compared with November to KRW29.92 billion (US$25.0 million), aided by a 15.7% increase in table drop to KRW159.85 billion (US$133.3 million). Table drop was also 5.2% higher than in December 2020, although sales fell 30.1% year-on-year due a lower win rate.

Paradise said that table game sales in 2021 fell 27.1% year-on-year to KRW226.89 billion (US$189.2 million) while machine sales fell 8.1% to KRW22.87 billion (US$19.1 million).

Table drop fell 26.6% year-on-year to KRW1.71 trillion (US$1.43 billion).

Paradise operates four casinos in Korea – Paradise Walkerhill in Seoul, Jeju Grand, Busan Casino Paradise and Paradise City in Incheon.

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