Paradise City Development Prediction

In South Korea, a leading local brokerage has reportedly explained that they expect the opening of the first tranche of the Paradise City integrated casino resort later this year to negatively impact the profits of Paradise Company Limited before helping the operator to significantly increase overall revenue and revenue.

According to a report from GGRAsia, Seoul-based Shinhan Investment Corporation estimates that Paradise Company Limited will report a consolidated operating profit of approximately $ 48 million for the whole of 2017, which will be a 16.5% year-on-year decline, before forecasting that figure for two. The following twelve have to recover around 53.3% to stand at $ 73.5 million.

“Operating profit is projected to fall 57% year-on-year in the first half of 2017 due to rising costs,” read the forecast from Shinhan Investment Corporation analyst Jun-Won Sung. “However, it is expected to increase six consecutive quarters from the third quarter of 2017 in the inflow of sales from Paradise City.”

South Korea’s largest gambling company with foreign spots only in the cities of Busan, Seogwipo-Si, Incheon, Jeju and Seoul, Paradise Company Limited saw annual casino revenue for 2016 increase by 6.2% year-on-year to hit $ 509,000. 000 thanks to a 7.2% increase in table game takeovers to $ 499.1 million even though slot revenue decreased by 7.3% to $ 31.6 million.

Seoul-listed casino operator is expanding Paradise City in with Japanese pachinko operator Sega Sammy Holdings Incorporated and expects to inaugurate the $ 1.7 billion Yeongjong Island venue near the city of Incheon in April complete with 350 slots along with 160 live gambling tables.

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“Paradise Company Limited’s drop table is likely to rise 22.9% year-on-year to US $ 5.2 billion 2017,” reads an analysis from Jun-Won, “The Walker Hill casino should see [the table] drop to shrink 18%. to $ 1.7 billion. “