Korean casino operator Paradise Co. has reported a 30 percent monthly increase in gaming revenue, and a 313.3 percent yearly increase, to KRW70.13 billion ($53.09 million) in May.
The figure was mostly derived from table games, totaling KRW65.7 billion ($49.74 million) in revenue, a 31.1 percent monthly increase and a rise of 343.6 percent yearly.
Machine revenue also increased during the period, up 16.1 percent monthly and up 105.3 percent yearly, to KRW4.43 billion ($3.35 million).
The sharp rise in monthly revenue comes despite a small increase in the table drop amount – just 1.7 percent monthly, but 331 percent yearly, to KRW525.49 billion ($397.87 million).
The group’s Walkerhill property generated the most revenue, at KRW35.76 billion ($28.07 million), while Paradise City – it’s joint venture with Sega Sammy – generated some KRW28.38 billion ($21.48 million).
The group’s Busan property generated just KRW5.25 billion ($3.97 million) in revenue, while Jeju Grand contributed only KRW732 million ($554,000).
The results follow strong first quarter results, as the group returned to profit, with expectations that further Japanese and Chinese play would help drive revenues going forward.
The results delivered, in particular with Japanese VIP drop rising by some 19,371 percent yearly, to KRW240.24 billion ($181.87 million). Chinese VIP also rose, up 1,240 percent, to KRW62.7 billion ($47.46 million).
