Paradise Co sees August casino sales jump 32pct y-o-y to US$77mln, with growth across all four venues

Paradise Co Ltd, an operator in South Korea of foreigner-only casinos, said its August casino sales grew by 32.1 percent year-on-year to nearly KRW104.91 billion (US$76.8 million). Judged sequentially from July, Paradise Co’s group-wide August casino sales were up 35.8 percent. That is according to a Wednesday filing the company lodged with the Korea Exchange. The firm reported casino-revenue growth across all of its four gaming venues, showed GGRAsia’s review of Paradise Co’s supplementary business data published the same day. Paradise Co runs foreigner-only gaming at: 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. Paradise Co’s table-game sales last month were KRW99.43 billion, up by 32.7 percent year-on-year, and also up 36.6 percent from July. August machine-game sales were approximately KRW5.47 billion, up 23.1 percent year-on-year, and up by 23.4 percent month-on-month. Paradise City was the largest contributor to Paradise Co’s August casino sales, show the supplementary data. That month, the Incheon gaming venue generated nearly KRW58.79 billion in casino sales, up 29.8 percent year-on-year. The other three Paradise Co gaming venues also showed year-on-year sales improvement in August. The latest monthly data took Paradise Co’s aggregate casino sales for the eight months to August 31 to KRW658.50 billion, up 8.1 percent from the just under KRW609.22 billion achieved in the same period last year. The company’s August casino drop – the amount exchanged for chips at gaming tables – was KRW680.50 billion, up 3.7 percent year-on-year. Casino drop for the calendar year to August 31 reached nearly KRW5.17 trillion, a rise of 8.3 percent from a year ago.