South Korean foreigner-only casino operator Paradise Co reported a decline in casino revenue to KRW61.6 billion ($46.5 million) in September, marking a 16.5 percent drop year-on-year and a 14.4 percent decrease from August.
This decline was evident across all segments, with gaming table revenue falling 14.8 percent sequentially to KRW57.3 billion ($43.2 million) and machine revenue decreasing by 8.9 percent to KRW 4.3 billion ($3.25 million). The table drop reached KRW563.6 billion ($425 million), down 15.6 percent from August and 0.7 percent compared to the same period in 2023.
However, casino revenues for the first nine months of 2024 remain up 8.8 percent year-on-year, totaling KRW614.5 billion ($464 million), supported by a 15.5 percent increase in drop to KRW5.21 trillion ($3.93 billion).
The company operates several prominent casinos, including Walkerhill, Jeju, Incheon Paradise City, and Busan Casino. Paradise Co now plans to enhance its appeal to international guests by developing a luxury hotel in Seoul and upgrading its VIP gaming areas.
