South Korea’s Paradise Co and GKL gaming revenue down m-o-m in September

South Korean gaming operators Paradise Co and Grand Korea Leisure (GKL) reported a slight decline in net revenues on a month-on-month basis in September.

According to the latest update on the company’s website, South Korean foreigner-only casino operator Paradise Co. reported a 2.4 percent decline in net revenues, at KRW75.12 billion ($55.6 million).
However, on a year-on-year basis, September 2023 revenues were up 91.8 percent.
Both table gaming and slot posted a decline in revenue on a month-on-month basis. The table gaming, with revenues down 2.5 percent monthly from KRW72.52 billion ($53 million) to KRW70.74 billion ($52.3 million). The figure was up 96.7 percent from the prior-year period.
Gaming revenue generated from slots fell 1.2 percent monthly, from KRW4.44 billion ($3.3 million) to KRW4.39 billion ($3.25 million). The figure was up 36.6 percent from the prior-year period.
Paradise Co operates foreigner-only casinos, such as Walker-Hill, Jeju, Incheon Paradise City, and Busan Casino.

GKL revenue down 0.2 percent

GKL is also a foreigner-only casino operator which has three casinos in Seoul and Busan.
The company also saw a 0.2 percent monthly decline in September, as its casino revenue fell to KRW33.32 billion ($24.6 million).
According to the filing, its drop amounted to a 5.8 percent monthly increase.
Gaming revenue generated from table games was nearly KRW30.12 billion ($22.3 million) in September, down 0.2 percent sequentially and up 33.5 percent from a year ago.
Slot machine revenue was KRW3.20 billion ($2.4 million), down 0.2 percent month-on-month and 14.8 percent higher than a year earlier.
GKL’s gaming revenue in the nine months to September 30th reached KRW305.87 billion ($226 million), an increase of 78.2 percent from the prior-year period.

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