[Featured Stock] Paradise Rises on Q3 Profit Turnaround Outlook
[Asia Economy Reporter Song Hwajeong] Paradise is showing strength amid expectations of turning a profit in the third quarter this year.
As of 9:47 AM on the 25th, Paradise was trading at 18,150 KRW, up 350 KRW (1.97%) from the previous day.
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The forecast of a profit turnaround in the third quarter and expectations of improved performance in the fourth quarter are interpreted as driving the stock price up. On this day, Kiwoom Securities projected Paradise's third-quarter sales to be 122.1 billion KRW, a 34.8% increase compared to the same period last year, and operating profit to turn positive at 3.2 billion KRW, significantly exceeding market consensus. Researcher Namsoo Lee of Kiwoom Securities stated, "Although there was a decline in indicators compared to the previous quarter with 8,000 VIP visitors and a drop amount (the amount casino users exchanged for chips) of 430 billion KRW, the hold rate (net sales/drop amount) improved to 16.4%, estimating combined casino sales at 76 billion KRW," adding, "In the fourth quarter, with the phased return to normal life (With Corona), visitors and drop amount are expected to increase and stabilize."
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