Bad luck behind Paradise Cos revenue decline in March

first_img Lack of premium mass strategy begs questions of SJM’s Grand Lisboa Palace launch: analysts RelatedPosts Genting’s Resorts World Las Vegas names five key additions to executive team Korean casino operator Paradise Co played unlucky in March, with gaming revenue across its properties falling 0.9% year-on-year to KRW50.63 billion (US$44.7 million) despite a 7.6% increase in table drop.Paradise’s March results also represented an 8.5% decline on February 2019 numbers, with table game revenue of KRW47.58 billion, down 0.1% year-on-year, and slot machine revenue of KRW3.05 billion, down 11.3%. While revenue fell, table drop increased 7.6% year-on-year and 3.6% sequentially to KRW540.86 billion (US$477.3 million).Table drop for the first three months of 2019 increased 19.1% on the prior year period to KRW1.62 trillion.The results are based on casino revenues at Paradise’s four Korean properties – Paradise City, Paradise Walker-hill, Jeju Grand and Busan Casino.The company recently signed a Memorandum of Understanding with Suncity Group Holdings regarding a potential cooperation agreement at Busan. Load More Strong VIP growth sees Okada Manila GGR climb 72% in Augustlast_img read more

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