South Korean foreign casino Paradise recently announced its performance report for the second quarter of 2022, reflecting the rapid recovery and continued development of the South Korean casino industry after the epidemic.
According to data, Paradise’s total sales in the second quarter increased by more than 160% year-on-year, reaching approximately HK$16 billion.At the same time, the sales of its three casinos surged by nearly 90% month-on-month, and the year-on-year growth more than tripled, reaching nearly HK$8 million.In addition, EBITDA also increased significantly year-over-year.
Paradise City’s integrated resort in partnership with Japanese companies performed very well, with sales and casino revenue doubling year-on-year. EBITDA increased by 17.5% month-on-month and more than five times year-on-year.
Second-quarter performance continued to improve significantly, driven by Japanese tourists, offsetting the impact of the slower recovery in the Chinese mainland market.
According to industry views, the significant improvement in Paradise’s performance reflects the strong recovery of the Korean casino industry in the post-epidemic period.As South Korea further relaxes entry restrictions, the prospects for related companies have become very bright.
