written and last updated by
Sam Smith at
03 Sep 2024
Journalist, Editorial Department
South Korean casino operator Paradise Co reported a steady increase in revenue for August 2024. The figure rose by 30.2% compared to July and by 4.1% year-on-year, reaching 80.18 billion won (approximately $5.3 billion).
Positive trends were observed across all segments of Paradise Co's gambling business. Revenue from table games surged by 32.1% from July, totaling 75.5 billion won ($5 billion). Slot machines generated 4.72 billion won ($312.9 million), marking a 5.7% increase.
The total amount of cash exchanged for chips reached 667.5 billion won ($44.2 billion), up 23.1% from the previous month and 16.9% compared to August 2023. Since the beginning of 2024, Paradise Co has earned a total of 561.1 billion won ($37.2 billion).
Another foreign-only gaming operator, Grand Korea Leisure Co (GKL), reported an even more significant revenue increase. August's revenue hit 41.28 billion won ($2.7 billion), a staggering 114.7% rise from July. Compared to the same period in 2023, this represents a 23.6% improvement.
In August, revenue from table games reached 38.1 billion won ($2.5 billion), up 130% month-on-month and 26.2% year-on-year. Slot machines contributed approximately 3.18 billion won ($210.7 million), roughly the same as in August 2023, but 19.4% higher than in July 2024.
GKL also announced the resumption of dividend payments, the first since 2019, prior to the COVID-19 pandemic.
Over the past eight months, the total revenue of the three casinos operated by GKL reached 253.97 billion won ($16.8 billion). Of this amount, 229.95 billion won ($15.2 billion) was generated from table games, while 23.12 billion won ($1.53 billion) came from slot machines.
It is worth noting that GKL's net profit in 2023 exceeded 44 billion won.
