By SectorWire desk ·
Paradise reported August casino revenue of KRW104.91bn in South Korea, up 32.1% year on year. Table hold reached 14.6%, compared with 11.4% a year earlier. VIP visiting days across its four casinos remained broadly stable.
Higher table hold accompanied Paradise’s revenue growth while VIP visiting days remained broadly stable, contextualising the increase for investors.
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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.
The monthly revenue record and growth across all four casinos give investors evidence of higher sales across Paradise Co’s venues.
Paradise Entertainment’s shift from profit to loss accompanies no interim dividend for shareholders.
Paradise Entertainment attributes its expected first-half loss to its Macau satellite casino closure and lower casino equipment sales.
Lower equipment revenue and the end of casino management income both contribute to Paradise Entertainment’s projected loss.