Paradise Reports Operating Profit of 54.9 Billion KRW in Q2... "Turned Profitable"

Sales of 275.3 Billion KRW... Up 161.6% Compared to the Same Period Last Year

Paradise announced on the 10th that its consolidated operating profit for the second quarter of this year was tentatively estimated at 54.9 billion KRW, turning profitable compared to an operating loss of 20.6 billion KRW in the same period last year. Sales increased by 161.6% year-on-year to 275.3 billion KRW, and net profit rose by 243.7% to 37.2 billion KRW.

By segment, casino sales reached 134.4 billion KRW, up 366.4% compared to the previous year. Complex resort sales increased by 142% to 109.4 billion KRW, and hotel sales rose by 1.2% to 28.7 billion KRW.

Subsidiary Paradise Segasami's second-quarter sales increased by 141.9% to 109.4 billion KRW. Casino sales were 82.2 billion KRW, up 346.4% year-on-year. Along with increased domestic leisure and travel demand, hotel sales rose by 1.1% to 23.3 billion KRW. As some facilities within the resort, such as Cimer, Wonderbox, and Art Paradiso, resumed operations, Fun City sales also increased by 3.8% to 3.9 billion KRW.

A representative from Paradise stated, "The Japanese market has recovered to pre-COVID-19 levels through strengthened local marketing following the easing of entry restrictions, and the increase in customers continues." They added, "We expect the Chinese VIP drop amount, which has been on the rise this year, to increase further once group tours from China resume."

This content was produced with the assistance of AI translation services.