Casino sales at Paradise, South Korea’s foreign-only casino operator, rose 28.5 percent in February from a year earlier, data showed Tuesday on the Korea Exchange.

These revenues were approximately 55.83 billion won ($49.6 million) compared to approximately 54.29 billion won in February 2018.

Last month, table sales rose 28.8% to 51.42 billion won from 39.92 billion won a year earlier.

Machine sales in February this year rose 24.5% year-on-year to 4.41 billion won from 3.54 billion won a year earlier.

The company’s monthly update does not provide a comment on why sales fluctuated year-over-year.

Paradise’s total casino revenue in January-February 2019 was around 111.94 billion won, up 15.2% year-over-year.

Calendar sales through Feb. 28 rose 15.3 percent year-on-year to 103.55 billion won. In the first two months of the year, machinery sales rose 14.0 percent to 8.39 billion won.

TABLE DROP – The amount of cash exchanged for chips by customers at the table, up 25.9% year-over-year in the first two months of 2019, just over KRW 1.70 trillion.

Paradise Co.’s latest casino figures are based on the results of four venues operated by its casino division: Walkerhill in Seoul, Jeju Grand in Jeju Island, Busan Casino in the southern port city of Busan, and Paradise City in Incheon, near the main international airport serving the Korean capital, Seoul.

The casino operator reported a net loss of about 10.97 billion won in 2018 compared with a loss of 18.95 billion won in 2017.

Paradise signed a non-binding memo last month about a possible cooperation with SunCity Group Holdings, the latter company said in a February filing. The memorandum of understanding relating to Paradise Casino Busan said in a filing with the Hong Kong Stock Exchange. SunCity Group Holdings is a Hong Kong-listed vehicle controlled by Macau casino junket investor Alvin Chauchukwah.

In addition, the privately owned Suncity Group, controlled by Chow, said in a follow-up press release that the Hong Kong-listed company plans to “acquire a portion of its stake in South Korea’s Paradise Casino Busan.”

BY: 우리카지노탑

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