Korean foreigner-only casino operator Paradise Co saw record-high annual revenue and operating profit in 2025, with strong results out of Paradise City in Incheon.
In results released on Tuesday, Paradise revealed revenue of nearly KRW1.15 trillion ($789.66 million), up by 7.3 percent yearly, and operating profit of KRW156.36 billion ($107.37 million), a rise of 14.9 percent year-on-year.
In consolidated results, casino sales during the period totaled KRW115.12 billion ($79.05 million), up 2.52 percent yearly. The segment contributed 10 percent of overall sales in 2025, down slightly from a 10.5 percent contribution in 2024.
The group’s integrated resort segment contributed some KRW597.49 billion ($410.27 million) in sales during the year, up by 10.8 percent yearly. The IR segment contributed some 52 percent of the group’s overall sales in FY25, up from 50.3 percent in the previous year.
Meanwhile, the hotel segment contributed KRW419.41 billion ($287.99 million) in sales, up by 4.14 percent yearly and making up 36.5 percent of sales.
Net profit for the group rose by an impressive 30.14 percent yearly in FY25, to KRW144.06 ($98.92 million).
Paradise City leads the charge
Paradise’s joint venture with SegaSammy for its Paradise City operation saw record-high quarterly revenue in 4Q25, up by 20.9 percent yearly to KRW156.11 billion ($100.33 million). This was also 2.5 percent higher than 2Q25, which is the typical peak season for the property.
Casino sales rose by 24.8 percent yearly during the quarter, topping KRW124.35 billion ($85.39 million), a sequential increase of 6.3 percent.
The group notes that mass drop continued to see strong growth, rising by 34.9 percent yearly in 4Q25, with a 1.4 percentage point rise in the hold rate.
EBITDA at the property was up a significant 94.7 percent yearly, to KRW25.29 billion ($17.37 million), however the figure was a sequential fall of 18.8 percent. An increase in taxes due to larger casino revenue, labor costs and marketing expenses weighed slightly on the result.
Other casinos
The group’s Walkerhill Casino saw a drop of 8.2 percent in sales for the quarter, totaling KRW76.9 billion ($52.8 million), while its Busan Casino saw KRW20.3 billion ($13.94 million) – up by 29.6 percent yearly.
The group’s Seoul, Busan and Jeju casinos saw sales fall by 1.4 percent yearly, to KRW102.71 billion ($70.53 million), despite a 7.9 percent increase in casino drop, due to a decrease in the hold rate.
For the properties, an operating loss of KRW1.89 billion ($1.3 million) was recorded during the quarter, reversing a KRW14.86 billion ($10.2 million) gain in 4Q24.
Paradise Co. operates four foreigner-only casinos in South Korea: Walkerhill in Seoul, Paradise City in Incheon, Busan Casino, and Jeju Grand.
Japanese VIP leads
For the quarter, Japanese VIP play contributed the most to drop, at KRW723 billion ($496.45 million), a 1.68 percent yearly increase but a 4.74 percent sequential fall. Chinese VIP drop, totaling KRW302 billion ($207.37 million), was up slightly year-on-year but down slightly compared to the previous quarter.
Other VIP play drop was up by 13.4 percent sequentially and 15.77 percent yearly, while mass drop was up by 1.14 percent sequentially and 24.5 percent yearly.
Total drop was up 9.08 percent yearly to KRW1.81 trillion ($1.24 billion), rising by just 0.2 percent from the previous quarter.
