Paradise reports September casino revenue of KRW86.7bn in South Korea
The figures give investors September revenue and quarterly performance data for Paradise Co’s casino operations.
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The figures give investors September revenue and quarterly performance data for Paradise Co’s casino operations.
Investors face differing demand prospects as NH Investment & Securities expects tourism to support mass-market casinos more than VIP gaming.
Higher table hold accompanied Paradise’s revenue growth while VIP visiting days remained broadly stable, contextualising the increase for investors.
Paradise Entertainment’s shift from profit to loss accompanies no interim dividend for shareholders.
Lower equipment revenue and the end of casino management income both contribute to Paradise Entertainment’s projected loss.
Investors should note Paradise Co's July casino sales rose 3.6% year-on-year and 25.8% month-on-month.
The proposed fee increase would raise operators' payments to the state tourism fund, and Paradise shares fell sharply.