Paradise Co. Ltd., which operates foreigners-only casinos in South Korea, may be heartened by its May revenues, even though they dropped 51.2 percent year-on-year to KRW29.80 billion (US$24.5 million), compared to KRW61.08 billion in 2019.
But sales were better than in April, when three of the company’s four casinos were closed due to the Covid-19 infection.
In April, according to GGRAsia, combined casino sales at Walkerhill in Seoul, the Jeju Grand on Jeju Island, the Busan Casino in the southern port city of Busan, and Paradise City in Incheon dropped 86 percent to KRW7.94 billion, from KRW57.13 billion in April 2019. Paradise Co. promotes Paradise City in partnership with a unit of Japanese entertainment conglomerate Sega Sammy Holdings Inc.
Gaming at Paradise properties were suspended on March 24. The Jeju Grand reopened on April 13, and the remaining venues reopened on April 20. The group reported table games sales of just under KRW27.32 billion for May, a 52.4 percent decline, and gaming machine sales of KRW2.48 billion, down 32.4 percent.
Sales for the first five months of 2020 were nearly KRW192.06 billion, down 31.3 percent from the same period in 2019.
