October casino revenue at Paradise Co increased 21.2 percent month-on-month to $33 million. Also, it increased 119.9 percent from the previous year. It was according to the company’s recent revenue report.
Monthly table game sales for Paradise Co increased by 22.6 percent, to KRW43.50 billion. The KRW3.39 billion earned from video games on machines represents a sequential increase of 5.8 percent.
Because of this, through October of 2022, Paradise Co’s casino earnings amounted to KRW263.85 billion, an increase of 25.7% over the same period in 2021.
Paradise Co’s October Casino Revenue
According to a sports betting directory, Walkerhill in Seoul, Paradise Jeju on Jeju island, a facility in the port city of Busan, and Paradise City (pictured) in Incheon make up the casino business branch of Paradise Co; the latter is operated in a joint venture with Japan’s Sega Sammy Holdings Inc.
During October, Grand Korea Leisure Co Ltd (GKL), a competitor to Paradise Co in South Korea’s foreigner-only casino category, had its casino revenue increase by 37.3% sequentially, to KRW34.82 billion, according to a filing made on Wednesday. The growth was 275.5 percent as compared to the prior year.
According to Korean sportsbooks experts, Grand Korea Leisure’s table game income increased by 43.2% month-over-month in October 2022, reaching roughly KRW32.32 billion. Income from automated games dropped by 10.2 percent month-on-month, reaching slightly over KRW2.50 billion.
Since this time last year, Grand Korea Leisure’s casino earnings have increased by 173.9 percent, reaching roughly KRW206.42 billion as of October 31.
Online gambling South Korea experts said Grand Korea Leisure is a subsidiary of the Korea Tourism Organization, which in turn is affiliated to the Ministry of Culture, Sports and Tourism. The casino-operating entity runs three foreigner-only casinos in South Korea under the Seven Luck brand: two in the capital Seoul, and one in the southern port city of Busan.