South Korea’s Paradise Co sees 3Q net income jump 21pct year-on-year

Paradise Co Ltd, an operator of foreigner-only casinos in South Korea, saw its net income attributable to shareholders increase by 20.6 percent year-on-year in the third quarter, to KRW27.78 billion (US$20.8 million). On a sequential basis, third-quarter net income soared by 76.0 percent, according to a Tuesday filing. The result for the three months to September 30, 2026 was achieved on sales that rose 22.0 percent year-on-year, to nearly KRW351.66 billion. On a quarter-on-quarter basis, overall sales for the latest reporting period rose by 10.6 percent. The firm’s net income for the first nine months of 2026 stood at KRW60.04 billion, down 20.0 percent year-on-year. This came on overall sales that increased by 12.6 percent during the period, to KRW963.71 billion. According to data released in early October, Paradise Co’s aggregate casino sales for the nine months to September 30,2026 reached KRW744.59 billion, a 10.8 percent increase from the prior-year period. Paradise Co operates foreigner-only gaming across four properties: Walkerhill Seoul; Paradise Busan; the Jeju Grand property on Jeju Island; and Paradise City, Incheon. The latter is a venture with a unit of Japan’s Sega Sammy Holdings Inc. Earlier this week, Paradise Co confirmed it was considering participating in an investment related to the proposed acquisition of Maison Glad Jeju, a hotel on Jeju. The company said in a regulatory filing on Monday that “no decision had been made” regarding the acquisition or the terms of any potential transaction. Paradise Co has also been expanding its hotel capacity at Paradise City. In January 2026, the company completed the KRW210.0-billion acquisition of the West Wing of the Grand Hyatt Incheon hotel, adjacent to the Paradise City complex. The acquired property, subsequently rebranded as Hyatt Regency Incheon Paradise City, increased the accommodation inventory available to Paradise City by 65.1 percent, to 1,270 rooms.