Paradise Co complains of lower gaming revenue for August
South Korean casino operator Paradise's casino sales fell 2% in August from a year earlier, down 8% from a year earlier, data showed Monday at the Korea Exchange.
On a month-over-month basis, the company's casino revenue fell 17.4%.
Sales in August 2018 were about 51.58 billion won ($46.4 million) compared to about 52.65 billion won a year earlier. The group's casino sales in July this year were 62.43 billion won.
Table game sales reached W48.09 billion in August, down 1.1 percent from last year's W48.61 billion. Compared to the previous month, it was down 17.7 percent this year.
The slot machine's sales in August this year fell 13.3% year-on-year to 3.55 billion won from 4.04 billion won in August 2017. In the second half, sales growth was sharp at 65.5% year-on-year.
Casino revenues rose 19.7% in the first eight months of 2018, approaching 342.54 billion won in the same period last year.
From January to August this year, sales of aggregates and slot machines grew 19.9% and 16.7%, respectively, showing solid performance. Aggregate table sales reached 381.61 billion won from 318.21 billion won in the January-August period, and cumulative slot machine sales reached 28.44 billion won from 24.3 billion won in the same period last year.
Table Drops – The amount of cash exchanged by customers in exchange for chips at casino tables rose 6% year-on-year to just under W510 billion in August. From January to August, these table drops rose 13.4% year-on-year to nearly W3.71 trillion.
The figures were collected from the company's four foreigner-only casinos - Seoul Walkerhill, Jeju Grand on Jeju Island, Busan Casino in Busan and Paradise City in Incheon (pictured).
Paradise Co has reduced the year-on-year decline in total gaming revenue from August 2017. Part of that decline has been caused by Chinese tourists staying away from South Korea after investment analysts were at odds with China over the U.S.-supplied missile defense system.
China suspended its package trip to Korea in March last year in protest against the country's decision to deploy weapons, given the proximity of the Chinese territory. Tensions between the two countries are said to have eased after South Korean President Moon Jae In's visit to China in December last year.
According to the Korea Tourism Organization, the number of Chinese tourists visiting Korea increased by 1.8 percent in the first seven months of this year.
BY: 카지노사이트
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