The launch of South Korea’s first major integrated resort casino failed to reverse the flagging fortunes of its parent company.

South Korean casino operator Paradise Co Ltd reported gaming revenue of KRW41.6b (US $37.1m) in the month of May, representing a 30.4% decline from the KRW59.7b the company reported in the same month last year. Table game revenue was down 30.9% to KRW39b while machine gaming was off 20.3% to KRW2.54b.

On the surface, those are somewhat alarming figures, because May was the first full month of contributions from the company’s new Paradise City integrated resort, which opened its doors on April 20. The resort, a joint venture of Paradise Co Ltd and Japanese pachinko operator Sega Sammy Holdings Inc., is the first large scale foreigners-only gaming venue to open in South Korea.

While May’s total was up 7.5% from April’s numbers, the launch of Paradise City, conveniently located in the Incheon area near Seoul’s international airport, might have been expected to move that needle a little further into the black. Paradise Co Ltd didn’t break out how much the new resort contributed to April’s results versus contributions from the company’s other three small casinos in Seoul, Busan and Jeju Island.