South Korea’s foreigner-only casino operator Paradise Co. posted a strong performance in the third quarter of 2025, with net profit surging 70 percent year-on-year to KRW33.4 billion ($23.9 million), driven by improved casino hold rates and robust hotel demand across its properties.
According to the financial results released by the company on Monday, Paradise Co.’s consolidated revenue rose 7.5 percent year-on-year to KRW288.2 billion ($206.5 million), while operating profit grew 9.1 percent to KRW39.5 billion ($28.3 million).
The casino segment, which includes three locations in Seoul, Busan, and Jeju, recorded an 18.9 percent revenue increase to KRW100.4 billion ($71.9 million), largely due to a 2.7 percentage-point rise in hold rate.
Paradise City, its integrated resort in Incheon operated with Sega Sammy Holdings, achieved its highest quarterly drop amount, exceeding KRW1 trillion ($717 million), up 9.9 percent from a year earlier.
Hotel operations also performed solidly, with sales increasing 6.2 percent year-on-year to KRW31.5 billion ($22.6 million). Paradise Hotel Busan saw a notable 7.2 percent rise in sales to KRW30.5 billion ($21.9 million), supported by strong domestic tourism demand and a higher occupancy rate of 89.2 percent, compared with 84.6 percent a year earlier.
Paradise Sega Sammy, the company’s joint venture integrated resort in Incheon, reported a 16.6 percent year-on-year increase in sales to KRW106.7 billion ($76.4 million) and an operating profit of KRW9.9 billion ($7.1 million), up nearly sixfold. Net profit turned positive to KRW7.7 billion ($5.5 million), reversing a KRW5.2 billion loss a year earlier.
At the standalone Paradise Hotel Busan subsidiary, operating profit rose 1.8 percent to KRW7.5 billion ($5.4 million) as higher room occupancy offset a slight decline in average daily rates. EBITDA for the group increased 4.2 percent year-on-year to KRW58.1 billion ($41.6 million).
Paradise Co.’s total assets stood at KRW3.96 trillion ($2.84 billion) as of September 2025, with equity of KRW2.19 trillion ($1.57 billion). The company’s cumulative nine-month net profit reached KRW108.9 billion ($78 million), up 47 percent from the same period in 2024.
Management attributed the strong quarterly performance to the recovery of high-value international visitors and increased operating leverage, particularly in the casino segment, where the mass drop amount reached record highs despite seasonal fluctuations.
