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 KoreaThursday, Jun 08, 2017

South Korean casino operator Paradise Co. reported a 30.4 percent decline in gaming revenue in the month of May, reaching KRW 41.6 billion (US$37.1 million).

South KoreaThursday, May 18, 2017

Paradise Co reported a 92 percent plunge in net profit in 17Q1, due to a downturn in casino sales caused by unfavorable VIP luck.

South KoreaTuesday, May 16, 2017

Kangwon Land posted a 9 percent drop in 17Q1 profit as gaming revenue declined.

South KoreaMonday, May 15, 2017

Grand Korea Leisure reported an 8.3 percent decline in revenue for Q1, while its net profit tumbled by 34.6 percent.

South KoreaMonday, May 15, 2017

Former K-pop singer Jung Jin-woo has been jailed for one year for illegal gambling and for trying to disrupt an investigation of his case.

South KoreaTuesday, May 09, 2017

U.S. tribal casino operator Mohegan Sun has signed new agreements with the Incheon International Airport Corp. in relation to the development of the Inspire Integrated Resort in Incheon, South Korea.

South KoreaWednesday, Apr 26, 2017

Casino resort developer Landing International Development Ltd on Wednesday announced the opening of Somerset Jeju Shinhwa World, the first phase of Landings’ new Jeju project.