Paradise Nov. sales gain 3.9 percent

South Korea’s Paradise Co. reported a 3.9 percent increase in November sales, through the cumulative figures for the year are still in negative territory, showing a drop of 9.1 percent.

The foreigner-only operator took in KRW54.7 billion ($46.1 million), that’s up 8.1 percent from the prior month, it said in a filing to the Korean Stock Exchange earlier this week.

Table revenue gained 2.2 percent, while machine revenue jumped 36.8 percent in the period.

For the 11 months through to end November, Paradise recorded casino revenue of KRW508.2 billion. Table revenue was down 9.9 percent, while machine revenue showed a gain of 3.7 percent.

South Korea’s foreigner-only casinos have been hit hard by a Chinese ban on group travel tours in March in retaliation for Seoul’s decision to deploy a U.S. missile system. Beijing signalled it was lifting the ban last month.

Paradise opened South Korea’s first IR in April this year in a joint venture with Japan’s Sega Sammy.


More news from this jurisdiction

South KoreaWednesday, Dec 13, 2017

The number of Chinese tourists visiting South Korea is expected to fall by 4 million in 2017, compared to over 8 million recorded in 2016.

South KoreaFriday, Dec 01, 2017

The former CEO of Kangwon Land has been arrested on charges of unlawfully hiring staff at the request of politicians and local “bigwigs”.

South KoreaTuesday, Nov 14, 2017

Interblock has announced it has signed an agreement with Jeju Sun Hotel & Casino that will bring electronic table games to Jeju-Do Island in South Korea for the first time ever.

South KoreaWednesday, Nov 08, 2017

Dr. Yang Zhihui was accredited the "Presidential Commendation" at an award ceremony organized by the Ministry of Trade, Industry & Energy.

South KoreaWednesday, Nov 08, 2017

Kangwon Land saw a 10.2 percent decrease in gross gaming revenue for the three months ended September 30, 2017.

South KoreaTuesday, Nov 07, 2017

Paradise Co reported a 86.5 percent year-on-year decrease in net profit for the third quarter of 2017, down to KRW1.4 billion.

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.