Paradise Co’s March Earnings Decline Despite Rising Player Activity

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Paradise Co, the South Korean operator of foreigner-only casinos, reported a sharp monthly earnings setback in March even as player activity rose.

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Key Takeaways:
  • Paradise Co reports a 39.6% year-on-year revenue drop in March.
  • Table-game revenues plunge over 40%, offset by growth in slot income.
  • Longer-term positives suggest short-term volatility, not a structural decline.

According to Inside Asian Gaming, the operator generated KRW 49.5 billion ($32.8 million) of casino revenue during March. It represented a 39.6% year-on-year drop, driven by a steep decline in table-game receipts despite higher wagering volumes. 

Ups and Downs

Table-game revenue contracted by 43% to KRW44.0 billion (US$29.1 million) while machine income expanded 33.1% to KRW5.42 million (US$3.6 million), a split that limited the overall damage to first-quarter totals.

Table drop climbed nearly 9.7% sequentially to KRW587.7 billion (US$389 million), signalling robust customer engagement; yet table wins were weaker, cutting into operator earnings. 

Slot and machine revenues rose by about a third year-on-year to KRW5.42 billion (US$3.6 million), helping Paradise offset losses from tables and contributing to a modest 1.8% rise in casino sales for January-March.

The monthly swing sits against a backdrop of strong February results, when Paradise posted a 24.3% casino revenue for the month. That longer-term resilience suggests the March shortfall reflects volatile monthly gaming outcomes rather than a structural demand problem.