South Korean casino operator Paradise Co has announced a 129 per cent yearly increase in casino sales in the first quarter, topping KRW70.96bn (US$53.6m), also a 19.7 per cent quarterly increase.
The group also returned to profit, garnering KRW6.99bn ($5.27m) in 1Q23. The figure is a total reversal from the KRW28.58bn ($21.58m) loss it registered in 1Q22, which it managed to reduce to KRW4.04bn ($3.05m) in 4Q22.
Total sales during the period amounted to KRW19151bn ($144.66m), up 92 per cent yearly but down by nearly a percentage point compared to the previous quarter.
Hotel sales also tumbled, by 15.9 per cent quarterly (while rising 16.8 per cent annually), to KRW25.33bn ($19.12m). The group operates casinos at Walkerhill, Paradise City, Busan and Jeju Grand.
Source: Asia Gaming Brief
