South Korea Casino Earnings Report

South Korean casino operator Paradise Company Limited has released financial results for February showing that the gaming revenue of the only five foreigners place that experienced an increase of 13.5% year-on-year to reach nearly $ 36.9 million.

The nation’s largest gambling company, Paradise Company Limited is responsible for establishments in the cities of Busan, Seogwipo-Si, Incheon, Jeju and Seoul while it is also preparing to open the first phase of Paradise City’s $ 1.7 billion integrated casino resort on Yeongjong Island from April. featuring around 350 slots along with 160 live gaming tables.

Seoul-listed Paradise Company Limited revealed that gaming revenue for February represented a 3.4% month-on-month decline compared to just over $ 38.41 million it brought in during January while explaining that the combined takeover table for the first two months of 2017 has slipped so far. 8.2% year-on-year to stand at nearly $ 70.5 million.

The company reported that its February table gaming revenue came in around $ 34.8 million, which is an increase of 14.7% year-on-year but a decrease of 2.7% month-on-month and has accounted for 93.9% of all revenue.┬áIn terms of gaming machines, takeovers for the month fell 1.4% when compared to the same period in 2016 and 12.8% compared to January – roughly $ 2.2 million.

The Seoul-based operator further announced that the decline in gaming tables, which is the amount of money exchanged by customers for chips, for the second month of 2017 decreased by 7.5% year-on-year and 10.9% month-on-month to just over $ 330,900. .000 while the combined tally for January and February has so far decreased 2.4% when set against 2016 to around $ 702.3 million.

Regarding collected January and February revenues, the South Korean company detailed that the takeover had worsened by 7.7% year-on-year to come in at around $ 75.4 million.

Earlier this month, local brokerage firm Shinhan Investment Corporation predicted that the opening of the early-stage Paradise City, which is being developed near Incheon in partnership with Japanese pachinko operator Sega Sammy Holdings Incorporated, would negatively impact profits at Paradise Company Limited before later helping operators to significantly increase their profits. overall income and income.

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