Paradise Co January sales down 62% year-on-year

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Paradise Co January sales down 62% year-on-year

Paradise Co Ltd has reported January sales of KRW27.3bn (US$24.5m), representing a 62% year-on-year decline. The total was also a 36% month-on-month decrease.

The South Korean casino operator, open to foreign nationals only, has been heavily affected by the COVID-19 pandemic, as with both the casino market and tourism market in the country more broadly.

Table game sales represented the majority of January’s total at KRW25.5bn, with machine-game sales reaching KRW1.8bn.

The former represented a 38% decline from December 2020 and a 62% decline from January 2020. The latter, meanwhile, was a 29% rise from December, but a 54% decrease from January.

Paradise Co’s gaming operations are Paradise City in Incheon, Jeju Grand on Jeju Island, Busan Casino in Busan and Walkerhill in Seoul. 

Its Walkerhill venue reopened its doors on 4 January, having been closed since 15 December due to COVID-19 restrictions. The casino had initially planned to reopen on 28 December, but that date was extended, with all customers now required to show evidence of a negative COVID-19 test before entering.

The operator last month reported accumulated casino sales from January to December 2020 of KRW335.3bn, a 57% decrease from the same period a year prior.

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