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Paradise Co. Ltd and Grand Korea Leisure Co. GKL, both foreign-only casino businesses operating in South Korea, reported their March and first-quarter earnings on Tuesday, respectively. GKL also confirmed shareholder approval for its final cash dividend of 353 won (US$0.26) per share in 2023 in a separate filing with the Korea Exchange on Monday.
Paradise's first-quarter casino sales rose 55.4% year-on-year to just W288.3 billion. First-quarter table drop was just under W1.73 trillion, up 36.8% from the same period in 2023.
The company reported casino revenue of 54.98 billion won in March, up 31.3% year-on-year but down 31.5% month-on-month.
Table gaming sales rose 33.1 percent year-on-year to W50.92 billion in March, but fell 32.8 percent sequentially. Machine gaming sales rose 11.9 percent year-on-year to W4.06 billion, but were down 10.2 percent compared to February.
Paradise directly manages three properties: Walkerhill in Seoul, Paradise Jeju on Jeju Island, and properties in the port city of Busan. It also has a venture business with Sega Sammy Holdings of Japan for the Paradise City Casino Resort in Incheon near Korea's main airport.
GKL recorded 93.67 billion won in casino revenue in the three months to March 31, down 12.9 percent year-on-year. Casino reductions in the first quarter were 916.04 billion won, up 21.5 percent from the same period in 2023.
Casino sales in March this year increased 19.9% sequentially to 40.39 billion won, and increased 4.4% year-on-year,
GKL's monthly table game sales were just under 37.33 billion won, up 19.7% month-on-month and up 4.3% in March 2023.
Machine game sales in March this year increased 22.7% sequentially to KRW 3.06 billion, and increased 4.8% year-on-year.
GKL operates three foreigner-only Seven Luck brand casinos. Two are in the capital city of Seoul, and one is in the southeastern port city of Busan.
The company is a subsidiary of the Korea Tourism Organization under the Ministry of Culture, Sports and Tourism of Korea.
BY: 카지노사이트