Paradise’s Revenue Gains as Machine Income Soars

South Korea’s Paradise Co. reported a 25.2 percent gain in May gaming revenue, led by surging machine sales, it said in a stock exchange filing.

Total casino revenue for the month came in at 51.96 billion won (about US$48.3 million). Machine revenue was the biggest gainer, soaring 74.6 percent to 4.42 billion won (about US$4.1 million). Table revenue was up 22 percent to 47.53 billion won (about US$44.2 million).

The company, which owns foreigner-only casinos across the country, as well as South Korea’s first IR in a joint venture with Japan’s Sega Sammy Holdings, gives no reason for the gains in its monthly updates.

For the year to date, casino revenue is up 16.6 percent at 238.83 billion won (about US$222 million), with table revenue gaining 15.8 percent and machine revenue up 28.2 percent.

The monthly gains are coming off a low base, as revenue in 2017 was hit hard by China’s ban on tour group travel to South Korea starting in March. Beijing was protesting against Seoul’s decision to deploy a US anti-missile system. (AGB)