Revenue decline hits South Koreas Paradise Colunar new year to blame?
South Koreas leading foreigner-only 바카라 operator, Paradise Co, reported 바카라 revenue of KRW 70.4 billion (47.9 million) in January 2025, marking a 2.3 percent decline compared to the same period last year. However, the figure showed a modest 1.0 percent increase from December, according to a with the Korea Exchange.
The companys table games revenue slightly decreased by 0.4 percent from December, amounting to KRW 65.8 billion (43.7 million). In contrast, machine gaming revenue experienced a significant rise of 24.5 percent, reaching KRW 4.65 billion (3.1 million).?
The total amount wagered on table games, or table drop, stood at KRW 579.4 billion (384.7 million), reflecting a 7.1 percent sequential increase and a 1.8 percent year-on-year growth. But, an overall slowdown was evident.
Lunar year to blame?
Paradise Co has not provided specific reasons for the 2.3 percent year-on-year decline in January 2025 바카라 revenue. Fluctuations in monthly revenue can result from various factors, including seasonal variations, economic conditions, and shifts in customer preferences. One major reason could be disruptions caused by Lunar New Year celebrations.
During Lunar New Year, also known as Seollal, many businesses close as people travel to their hometowns to spend time with family, perform ancestral rites, and engage in traditional games and activities. This nationwide observance can lead to temporary declines in business activities, including in sectors like tourism and entertainment. A similar trend was also evident in Macau.
Macaus Gaming Inspection and Coordination Bureau also reported Januarys gross gaming revenue (GGR) at MOP18.25 billion (2.08 billion), reflecting a 5.6 percent year-on-year decline. This drop exceeded JP Morgans forecast of a 4 percent contraction, though revenues saw a modest 0.3 percent increase from December.
Macaus six 바카라 operatorsSands, Galaxy, Wynn, MGM, Melco, and SJMexperienced a slowdown as many players stayed home ahead of the Chinese New Year.
Whats next for Paradise Co.?
Despite Januarys dip, analysts remain optimistic about February, which is expected to benefit from the Lunar New Year, running from January 28 to February 4. The extended holiday typically drives strong visitation and gaming activity, giving 바카라s a potential boost.
However, unlike Macaus decline in January revenue, Paradise Co concluded 2024 on a strong note, recording a 10.2 percent annual increase in 바카라 revenue, totalling KRW 818.8 billion (540 million). The company remains the top operator in South Koreas foreigner-only 바카라 sector.
Looking ahead, Paradise Co has announced plans to develop a luxury hotel in Seoul and upgrade its VIP gaming areas to attract high-end international visitors. The company operates four 바카라s across the country, including Paradise City in Incheon, a joint venture with Japans Sega Sammy, as well as venues in Seoul, Busan, and Jeju.
