Paradise Co. Aug. sales flat month-on-month

Monday 7th of September 2020

South Korea’s Paradise Co. reported a 75 percent drop in August sales compared with the same month last year, though revenue was little changed from the prior month.

The operator had total casino revenue of KRW17.30 billion ($14.5 million) in the month. Table games were down 76.6 percent on the year at KRW15.4 billion but were unchanged on the month.

Machine games dropped 43.4 percent year on year and were down 3.3 percent on the month.

Cumulatively, year-to-date, Paradise has seen a 51.4 percent drop in casino revenue, with tables down 52.1 percent and machines down 39.4 percent.

Total table drop for August was KRW130 billion, which is up 2.4 percent from July and down 79.1 percent from the same month in 2019.

The figures relate to the foreigner-only Walker-hill, Jeju Grand, Incheon Paradise City and Busan casinos.

Paradise has been forced to close its casino at its Incheon resort following a Covid-19 outbreak amongst staff.

On the 4th, the company announced that its hotel facilities would be closed until September 9 and its foreigner-only casino, where two of the infected employees worked, will be closed for an indefinite period.

“This decision is a preemptive measure for the safety of customers, employees, and local residents. We plan to close our business sites and to expand the scope of inspections in consultation with the quarantine authorities,” a company executive explained.