In a recent announcement, South Korean casino operator Paradise Co. disclosed a notable 31.5% decrease in gambling revenue for the month of March, amounting to $40.7 million. The decline in revenue is attributed primarily to a sharp reduction in card game activity since February.
According to the company's latest financial report, revenue from card games experienced a significant drop of 32.8% during the month, totaling $37.7 million. Similarly, revenue from slot machines witnessed a decline of 10.2%, amounting to $3 million. Despite these declines, the company's overall gaming revenue showed a year-on-year increase of 31.3% in March.
Interestingly, in the comparative analysis with the previous year, card games exhibited substantial growth of 33.1% in March 2023 compared to the same period in 2022. Additionally, online gambling revenue demonstrated a noteworthy year-on-year increase of 11.9%.
Specializing in operating foreigners-only casinos, Paradise Co. manages prominent establishments including Walker-Hill, Jeju, Incheon Paradise City, and Busan Casino. The company continues to navigate challenges in the gaming sector while maintaining a focus on enhancing operational efficiency and delivering exceptional experiences to its patrons.
