Paradise Co. casino revenue up 6.2 percent in 2016

South Korean casino operator Paradise Co. Ltd says casino revenue rose 6.2 percent in the full-year 2016, according to a filing from the firm to the Korea Exchange.

Full-year revenue for the casino operator was KRW 603.1 billion (US$505.9 million), up 6.2 percent from KRW 567.9 billion in 2015.

According to the filing, table game revenue rose 7.2 percent in 2016, while machine game revenue fell 7.3 percent for the full year 2016.

In November, Paradise reported a 7.2 percent year-on-year increase in casino sales to KRW 53.91 billion.

The casino operator reported a drop in profit for the third quarter of 2016, with profit for the quarter at KRW 10.5 billion, down 14.8 percent compared to KRW 12.3 billion in 15Q3.

More news from this jurisdiction

South KoreaWednesday, Sep 13, 2017

A new cruise ship terminal is set to be built just 5km from Incheon International Airport, with the aim of boosting passenger traffic to the airport and its two neighbouring resort complexes.

South KoreaTuesday, Sep 12, 2017

Casino operator Kangwon Land may see itself back in the center of a corruption scandal which took place between 2012 and 2013.

South KoreaMonday, Sep 11, 2017

Jeju Shinhwa World is set to add a new K-pop entertainment center, named YG Town, to its non-gaming offerings, Yonhap News reports.

South KoreaMonday, Sep 04, 2017

TGG Takara Gaming Group has secured Korea Testing Certification approval and has signed a gaming machine operation agreement with Majestar Casino.

South KoreaWednesday, Aug 30, 2017

Lotte Tour Development Co has selected Grand Hyatt as the hotel brand for its Jeju Dream Tower integrated resort.

South KoreaMonday, Aug 28, 2017

Kangwon Land, the only casino in South Korea that allows local gamblers, says it is discontinuing credit card cash services at the property starting September 1, 2017.

South KoreaWednesday, Aug 23, 2017

Lotte Tour Development Co, the company behind the proposed Jeju Dream Tower Integrated Resort is raising funds through the issuance of KRW 40 billion (US$35.3 million) of convertible bonds.