Paradise Surpasses 1 Trillion Won in Sales for the First Time Last Year... Operating Profit Down 6.7%

Impact of Increased VIP Marketing Expenses
Quarterly Operating Profit Up 32% Year-on-Year
Expansion of Premium Services for VIPs Planned This Year

Paradise surpassed 1 trillion KRW in sales for the first time since its establishment last year, driven by stable growth in the Japanese market and gradual recovery in the Chinese market. However, profitability slightly declined due to increased marketing expenses.

Paradise City Casino. Provided by Paradise

Paradise announced on the 12th that its consolidated operating profit for last year was preliminarily estimated at 136.1 billion KRW, a 6.7% decrease compared to the previous year. Sales increased by 7.8% to 1.0721 trillion KRW. Surpassing the previous record high of 994.2 billion KRW in 2023, the company entered the 1 trillion KRW annual sales mark for the first time. Operating profit in the fourth quarter of last year rose by 32.1% year-on-year to 19.5 billion KRW. Sales during the same period also increased by 9.9% to 265.8 billion KRW.

Paradise explained, "The improvement in profitability of the core casino business and integrated resorts, along with cost efficiency strategies, effectively drove overall sales growth," but added, "Operating profit slightly decreased compared to the previous year due to increased expenses from strengthened VIP marketing."

By segment, the combined sales of Paradise’s four casinos (Seoul Walkerhill, Busan, Jeju Grand, and Incheon Paradise City) recorded 818.8 billion KRW, a 10.1% increase from the previous year. The drop amounts from Japanese VIP customers and mass (general) customers were 2.8977 trillion KRW and 1.4452 trillion KRW, respectively. The resort segment posted sales of 248.8 billion KRW, up 2.3% year-on-year, driven by the recovery of tourism demand and an increase in foreign visitors to Korea.

Paradise Segasami, which operates Paradise City, achieved sales of 539.3 billion KRW and operating profit of 74.7 billion KRW through strategic cooperation with Sega Sammy Holdings, maintaining a solid growth trend in the Japanese market. These figures represent increases of 20% and 33%, respectively, compared to the previous year, marking the highest performance since the launch of Paradise City.

To sustain growth this year, Paradise plans to expand differentiated premium services such as dinner shows targeting Japanese and Chinese VIPs, localized marketing, and operation of the VIP lounge at Gimpo International Airport casino. Additionally, in line with the casino cluster development on Yeongjong Island, the company aims to maximize the customer attraction effect of Paradise City, refine overseas marketing, and actively secure a global customer base by reflecting K-culture demand among foreigners.

A Paradise official stated, "This year, in addition to the continuously recovering Chinese market, we plan to accelerate efforts to target new global markets such as Hong Kong, Taiwan, and Singapore to broaden the VIP customer base."

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