South Korean foreigner-only casino operator Paradise Co. has reported a slight decline in casino revenues in December compared to the previous month, but ended 2024 with a 10.2 percent yearly rise in total results.
According to its most recent consolidated financial statements, the casino generated KRW70.7 billion ($48.2 million) in revenue for December, reflecting a decrease of 1.4 percent from November’s revenue of KRW71.7 billion ($48.8 million).
However, this figure represents an 11.7 percent increase compared to December 2023, when revenues were KRW63.3 billion ($43.2 million).
Analyzing the revenue breakdown, table games contributed KRW67 billion ($45.7 million), down 0.5 percent from the prior month but up 13.8 percent year-on-year. In contrast, revenue from machine gaming fell significantly, totaling KRW3.7 billion ($2.5 million), a decrease of 16 percent from November and a decline of 16.1 percent year-on-year.
For the cumulative performance of 2024, Paradise Co. reported total casino revenues of KRW818.7 billion ($558.5 million), marking a 10.2 percent increase from KRW742.9 billion ($506.7 million) in 2023.
Table game revenues for the year reached KRW766.7 billion ($523.2 million), also up 10.2 percent from the previous year, while machine gaming revenue increased by 9.7 percent to KRW52 billion ($35.5 million).
Currently, the company is developing a $400 million flagship hotel project, set to begin construction in the first quarter of 2025, with an opening scheduled for 2028. This move is part of a revamped strategy aimed at attracting more international high-rollers to its properties.
