Paradise Co Ltd, an operator in South Korea of foreigner-only casinos, said in a Wednesday filing that its January sales declined 36.2 percent judged month-on-month. Measured year-on-year, such sales fell 61.8 percent.
The group’s January casino revenue amounted to KRW27.28 billion (US$24.5 million), a decrease on the KRW42.77-billion achieved in December, and an even larger decline versus the KRW71.40-billion achieved in January 2020. Results for that latter period reflect market conditions before the effects of the Covid-19 pandemic struck the South Korean tourism market and the country’s casino market.
Table game sales in January were KRW25.48 billion, down 38.4 percent sequentially on the nearly KRW41.37 billion produced in December, and a 62.2 percent contraction on the KRW67.49-billion tally achieved in January last year.
Machine-game sales for this January were almost KRW1.80 billion, which was up 28.7 percent on the nearly KRW1.40 billion in December; but down 54.0 percent on the KRW3.91 billion in the prior-year period.
Paradise Co’s gaming operations are at: Walkerhill in Seoul (pictured); 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.
Paradise Casino Walkerhill had reopened on January 4, having been closed since December 15 as a Covid-19 countermeasure.