Paradise Co. announced on Thursday that the April sales of its casino division plummeted 86.1 percent from the same month last year. The total sales figure was only KRW7.93 billion (US$6.5 million).
Table sales decreased 87.1 percent to KRW6.91 billion, and machine performance shrank 71.7 percent to KRW1.21 billion won. Cumulative sales from January-April of this year have fallen by 25.8 percent from the previous year’s results.
Paradise closed its four casinos on March 23, reopening Jeju Grand on April 13 and the other three on April 20, well ahead of its major rivals.
In order to stimulate the return of its non-gaming customers, the company unveiled on Thursday its “2020 Paradise Super Week” at its hotels and resorts nationwide, including discounts of up to 40 percent.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.