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Paradise October sales jump 39.2 percent

Paradise Co. posted a 39.2 percent jump in October casino sales from the same month last year, lead by table games.

The company said in a filing to the Korea Stock Exchange that total casino revenue was KRW70.54 billion ($62.7 million). The October figure was a 35.8 percent gain from the prior month.

Revenue from table games gained just over 43 percent to KRW67.58 billion, while gaming machine sales were down 14 percent year-on-year to KRW2.96 billion.

For the first nine months of the year, the company has seen casino revenue gain 19.3 percent, with table games up 19.6 percent and machine sales up 15 percent.

Paradise owns four foreigner-only casinos and the country’s first IR, Paradise City, which is a joint venture with Japan’s Sega Sammy.

In its fiscal Q2 results released last week, Sega Sammy said casino drop at the IR had reached a record high, hitting KRW204.4 billion in September, led by VIPs from Japan.

Sales in the quarter were KRW64.3 billion.

The company plans to step up its marketing efforts in Japan through online ads, traffic ads and through women’s magazines. It is also advertising on TVCM in the Kansai and Fukuoka region.

The resort opened further amenities in September and plans to open Funcity, a family friendly entertainment zone, by the end of the fiscal year.


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