Korea's Paradise Co sees casino revenues plummet 86.1% in April - IAG

Thursday 7th May 2020

Korea's leading foreigner-only Casino operator, Paradise Co, reported an 86.1% fall in casino revenues in April to KRW7.93 billion (US$6.5 million), having shuttered its four casinos for a large chunk of the month due to COVID-19.

Paradise closed Paradise City, Paradise Walkerhill, Busan Casino and Jeju Grand on 23 March, later reopening Jeju Grand on 13 April and the remaining three on 20 April - the first of Korea's casinos to restart operations.

The impact, naturally, was significant with table game revenue for the month down 87.1% year-on-year to KRW6.91 billion and machine revenue down 71.7% to KRW1.02 billion. Table drop was down 90.4% to KRW56.80 billion (US$46.4 million).

April's casino revenue results, which were also down 57.8% on March, mean that total casino revenue for the first four months of 2020 has fallen 25.8% year-on-year to KRW162.24 billion (US$132.6 million).

Paradise Co's main rival in South Korea's foreigner-only casino market, GKL, announced on Wednesday it has also reopened its properties.

Source

Best New Customer Offers

Bonus up to £1000 + 1000 LV Spins

Welcome Package

18+. New customers only. Welcome bonus is valid for first 4 deposits. Min. deposit £10. Wagering requirement 35x. Max bonus: £200 (100%) + £200 (50%) + £500 (25%) + £100 (200%). Max. spins: 200 + 200+ 500 +100 Spins. Full terms apply.

Bonus up to £200 + 100 Free Spins

Welcome Package

18+. New players only. Min Deposit £10. Welcome package splits over 3 deposits. 35x wagering requirement applies to match up bonus. Offer valid for 1 week. 100 spins split to 20 spins a day for 5 days. 50x wagering applies to spins. Full terms apply.

We use cookies and other tracking technologies to improve your browsing experience on our website, to show you personalized content and targeted ads, to analyze our website traffic, and to understand where our visitors are coming from. By browsing our website, you consent to our use of cookies and other tracking technologies. View more
Agree & Continue