Paradise Co. sees 60 percent drop in March casino revenues
South Korea’s Paradise Co. has reported a sharp decline in its March casino revenues by 60.5 percent on a year-on-year basis.
Sales in the casino division amounted to KRW19.73 billion (about US$16 million).
Both table and machine performance were down over 60 percent during the month.
Paradise Co. had started the year strong in spite of the coronavirus crisis, recording a casino revenue rise of 16.2 percent year-on-year in February, reaching KRW64.3 billion (US$54.2 million), driven by table games revenues.
In late March, however, Paradise Co. revealed that it would suspend its four foreigner-only casinos in Seoul, Incheon, Jeju, and Busan for two weeks as a measure to help prevent the spread of Covid-19 infection.
Singapore police have busted at least two illegal gambling operations in the past week, while across Asia authorities have moved to stamp out illicit activities, from raids on premier league matches in India, to illegal number forecasting in Malaysia.