Paradise Co H1 revenue falls 20%

Revenue of South Korean casino operator Paradise Co Ltd dropped 20.7 percent in the first half of the year on weaker gaming segment.

In a regulatory filing, Paradise Co told the Korean Exchange on Wednesday that its revenue for January to June 31, 2017 was estimated at KRW241.7 billion (US$210.3 million), lower than the KRW304.7 billion (US$263.93 million) it posted in the prior-year period.

Paradise Co. saw its table game sales tumble by 21.6 percent year-on-year to approximately KRW224.8 billion (US$194.72 million) from nearly KRW286.8 billion (US$248.42 million) in first half of 2016. Machine game sales in the first six months of 2017 was at KRW16.9 billion (US$14.64 million), a 5.4 percent decline.

The revenue results were collated from its all foreigner-only casinos namely: Walkerhill in Seoul; Jeju Grand on Jeju Island; Busan Casino in the southern port city of Busan; and Paradise City, in Incheon, near the main international airport serving the country’s capital Seoul.