South Korean foreigner-only casino operator Paradise Co. reported a 23.4 percent year-on-year increase in third-quarter casino net revenue, as higher table hold and growth in Japanese and other VIP play offset a weaker Chinese VIP drop.
Casino revenue reached KRW268.21 billion ($199.7 million) for the three months ended September 30th, according to the company’s latest monthly operating data. Table drop grew by a more moderate 8.3 percent to KRW1.96 trillion ($1.46 billion).
September casino revenue rose 38.2 percent year-on-year to KRW86.73 billion ($64.6 million), although it fell 16.8 percent from August, according to an October 2nd Korea Exchange filing.
Higher hold supported the quarterly revenue increase. The group’s table hold reached 12.91 percent, compared with 11.26 percent a year earlier. Revenue also increased 8.4 percent from the second quarter despite a 4.9 percent decline in table drop.
In September alone, table hold rose to 13.40 percent from 10.17 percent a year earlier, helping revenue growth outpace the 6.6 percent increase in drop.
Other VIP markets lead drop growth
Chinese VIP drop fell 9.3 percent year-on-year in the third quarter to KRW278.47 billion ($207.3 million). Chinese VIP visiting days declined 16.0 percent to 7,963. The company’s measure counts days on which customers visit, rather than unique individuals.
Japanese VIPs remained Paradise’s largest source of table drop, contributing KRW810.18 billion ($603.2 million), up 6.7 percent. Visiting days from the segment increased 9.6 percent to 24,826.
The strongest drop growth came from customers classified as other VIPs, whose contribution rose 32.9 percent to KRW404.68 billion ($301.3 million). Based on the company’s figures, this segment accounted for approximately two-thirds of the overall year-on-year increase in quarterly table drop.
Mass-market drop increased 6.0 percent. Chinese VIP drop returned to year-on-year growth in September, rising 3.1 percent, although the improvement was insufficient to reverse the quarterly decline.
Paradise City contributes most of the revenue increase
Paradise City’s third-quarter casino revenue rose 25.1 percent year-on-year to KRW146.32 billion ($108.9 million), while its table drop increased 1.4 percent.
The Incheon property contributed approximately 57.7 percent of the group’s quarterly casino revenue increase, based on calculations from the operating data. Casino revenue also grew at Walkerhill, Busan and Jeju Grand.
For the first nine months of 2026, Paradise’s casino revenue increased 10.8 percent year-on-year to KRW744.59 billion ($554.3 million).
