South Korean foreigner-only casino operator Paradise Co. reported a rise in casino revenue to KRW71.9 billion ($51.3 million) in November, reflecting a 31.3 percent year-on-year increase and a 15.5 percent rise compared to August.
The growth was primarily driven by the table gaming segment, with revenue from gaming tables increasing by 34.2 percent year-on-year to KRW67.5 billion ($48.2 million). In contrast, revenue from machines remained stable at KRW4.4 billion ($3.2 million), showing a slight 0.7 percent decrease from November last year.
Casino revenues for the period from January to November were up 10.1 percent year-on-year, totaling KRW748.2 billion ($533.8 million). This growth was supported by a 9.9 percent increase in table gaming revenue, which reached KRW699.9 billion ($499.3 million), and a 12.4 percent rise in machine segment revenue, which totaled KRW48.3 billion ($34.5 million).
The company operates several prominent casinos, including Walkerhill, Jeju, Incheon Paradise City, and Busan Casino.
Paradise Co. now plans to further enhance its appeal to international guests by developing a luxury hotel in Seoul and upgrading its VIP gaming areas.
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.
