South Korean casino operator, Paradise Company Limited, has reportedly released its financial results for August showing that it had experienced a 2% decline year-on-year in aggregated revenues to around $46.1 million.
Historically bad month:
According to a report from GGRAsia, the Seoul-listed firm’s revenues for the 31-day period, which were revealed via an official Monday filing, represented an over 17% drop month-on-month and came after the operator recorded a comparable 8.4% decrease for the same month in 2017.
Asian nation’s most prominent casino firm:
Paradise Company Limited is the largest casino operator in South Korea thanks to facilities in the cities of Seoul, Jeju and Busan while last year saw it inaugurate the $1.7 billion Paradise City integrated casino resort on a 10.6-acre plot of land adjacent to Incheon International Airport.
Table and slot takings decline:
GGRAsia reported that the operator’s August table games revenues had deteriorated by 1.1% year-on-year to reach slightly over $43 million while its monthly takings from slots had decayed by some 13.3% to hit approximately $3.1 million. Conversely, the same month last year saw Paradise Company Limited detail a 65.5% swell in returns from this latter category to about $3.6 million.
Optimistic eight-month figures:
For the first eight months of 2018, the Seoul-headquartered operator saw its aggregated casino revenues improve by 19.7% year-on-year to just short of $367 million thanks to comparable 19.9% and 16.7% rises in takings from table games and slots to $341.5 million and $25.4 million respectively.
In terms of table drop, which the source defined as the amount of money that is exchanged by punters in return for casino chips, Paradise reportedly documented a 6% increase year-on-year to just short of $448.5 million for August while the eight-month figure had risen by a comparable 13.4% to $3.3 billion.