By SectorWire desk ·
Paradise Co reported September net casino revenue of KRW86.7bn (US$64.5m) in South Korea. The outlet reported revenue growth of 38.2% and described the quarter ending in September as a record.
The figures give investors September revenue and quarterly performance data for Paradise Co’s casino operations.
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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.
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.
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.