South Korea’s Paradise Co reports 13% revenue fall in April 2025
Paradise Co, South Korea’s leading foreigner-only casino operator, has reported a decline in casino revenue for April 2025, reflecting signs of stagnation over the past five months.
According to figures submitted to the Korea Exchange, April’s casino revenue reached KRW 71.2 billion (€47.1 million), marking a 13.1 percent drop compared to March and 12.7 percent down from the same month last year. Whereas, the table games revenue stood at KRW 67.6 billion (€44.8 million), down 13.2 percent from March. Machine games contributed KRW 3.59 billion (€2.38 million), an 11.8 percent monthly decline.
Signs of stagnation?
The decrease follows a brief uptick in March when revenue surged to KRW 81.9 billion ( €54.2 million), a 20.1 percent rise from February. In February, revenue reached $48.6 million (€45.1 million), slightly exceeding January’s $48.1 million (€44.6 million).
December 2024 was also flat, at $48.2 million (€44.7 million). Despite March’s spike, the overall trend across these five months shows little consistent growth, pointing to a stagnating performance.
Interestingly, player activity remained robust, with the table drop – the total amount wagered – reaching KRW 609.5 billion (€403 million) in April. This was up 7.6 percent year-on-year and 3.5 percent higher than in March, suggesting steady interest among visitors despite reduced earnings.
Push for revenue via expansion
For the unaware, Paradise Co operates four foreigner-only casinos across South Korea: Paradise City in Incheon, developed in partnership with Japan’s Sega Sammy, and additional properties in Seoul, Busan, and Jeju.
In response to industry pressures, the company is pushing ahead with a series of developments to draw in more international guests. These include an all-suite luxury hotel in Seoul, set to open in 2028, and a new VIP gaming space at Walkerhill, Seoul, scheduled for later this year. A new international lounge at Gimpo Airport is also planned for August 2025.
Paradise Co is targeting a 10 percent annual sales growth rate and operating profit margins above 20 percent by 2027 as part of its “Corporate Value-Up Plan,” aimed at enhancing long-term shareholder value.
The company is also looking to capitalise on visa-free access to Jeju Island by appealing to Chinese tourists, a key market for South Korea’s gaming sector.
While April’s performance still signals a short-term dip, Paradise’s broader strategy remains focused on premium offerings and international expansion amid a backdrop of revenue stabilisation.
