Sales Nearly Double Of Korean Casino Operators
Korean casino operator FaradaIsCompany Limited reported consolidated financial results for June, representing a 99.2% year-over-year increase in total revenue to approximately $39.6 million.
According to a report published in GGRASIA, financial firm Korea Investment & Securities explained that June last year was a particularly low month for Korean casinos as it suffered from a sharp drop in tourists caused by the outbreak of Middle East Respiratory Syndrome (MERS).
However, Korea Investment & Securities Co., Ltd. was para last monthThe situation has eased somewhat since IsCompany Limited said it expects a “profit increase” from June on a “low comparison basis” compared to the same period in 2015.
Paradise Company Limited said in its latest data submitted to the Busan-based Korea Exchange that its table game sales rose 107.9 percent on-year to about $37.1 million in June, while its machine revenue rose 25.1 percent to about $2.5 million. The company is a para located in Jeju IslandIt announced the sum of Iscasino Jeju Grand Real Estate and real estate in other locations in Seoul, Busan and Incheon, down about 22.8 percent from May.
Paradise Company Limited said total casino sales rose 2.2% Y/Y to about $259.6 million in the first half of 2016, while table revenue rose 2.8% to about $244.2 million. But machine sales in the six-month period fell 6.5% to nearly $15.4 million, while table declines fell 2.3% to about $2.1 billion.
Last month’s analysis by Korea Investment & Securities said, “This year [Parada]The base effect will improve significantly, with IsCompany Limited] operating profit expected to increase 47.2% year-on-year in the second quarter of 2016 and 89.2% year-on-year in the third quarter.”