South Korean casino operator Paradise Co is expected to record a consolidated operating loss of KRW14.9 billion ($13.3 million) in the first quarter of 2021, according to analysts from Shinhan Investment Corp.
Casino sales are expected to be KRW98.7 billion, down 46.6 percent year-on-year.
“Foreigners currently residing in Korea are the only source of casino sales for Paradise, with no visitors coming from China and Japan, the main customer base for foreigner-only casinos, due to the two-week mandatory quarantine for all arrivals in Korea.”
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