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Paradise Co. hits $59.91 million revenue in August
South Korea’s foreigner-only casino, Paradise Co., saw significant casino revenue growth of 30.2%.
South Korea is an East Asian nation on the southern half of the Korean Peninsula. Currently, the country has around 20 casinos, which are only for foreigners.
One of those casinos, Paradise Co., announced its casino revenues for August, highlighting the rise of revenues by 30.2%, reaching KRW80.18 billion ($59.91 million).
The revenue comes from both table games and slot machines, showing a strong performance in the company’s key areas. Slot machine revenues also grew by 5.7%, totaling KRW4.72 billion ($3.52 million). The total amount of cash exchanged for chips, known as the table drop, rose to KRW667.5 billion ($498.78 million), marking a 23.1% increase from July and a 16.9% rise from the same period last year.
Paradise Co’s casino revenues for the first eight months of 2024 have risen by 14.3% to KRW561.1 billion ($419.28 million).
FAQs
Is gambling legal in South Korea?
Gambling in South Korea is legal but strictly regulated.
What is the legal gambling age in South Korea?
The legal gambling age in South Korea is 19.
How many casinos are there in South Korea?
South Korea has approximately 20 casinos that are exclusively for foreigners.
How much did Paradise Co. generate in August?
Paradise Co. generated KRW 80.18 billion ($59.91 million) in revenue in August, marking significant revenue growth.
What is the table drop, and how did it change?
The table drop, which represents the total amount of cash exchanged for chips, increased to KRW667.5 billion ($498.78 million). This marks a 23.1% increase from July and a 16.9% rise from the same period last year.
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