South Korean foreigner-only casino giant Paradise Co. Ltd has reported a sharp contraction in its gaming revenue for March, marking a significant departure from its early-year momentum.
According to the company’s latest financial disclosure, casino revenue for the month fell by 39.6% year-on-year and 44.0% sequentially from February, totaling US$32.8 million (KRW49.5 billion).
The Revenue Gap: Table Games vs. Machine Play
The downturn was primarily driven by a steep decline in high-stakes table play. Despite a sequential increase of 9.7% in table drop, the amount of cash exchanged for chips, total table revenue plummeted by 43.4% year-on-year to US$29.1 million.
This suggests a lower-than-average “hold” rate for the house during the month. While the operator did not provide a specific explanation for the March volatility, the figures highlight the inherent variance of the premium VIP sector.
Q1 2026: A Resilient Quarterly Performance
Despite the March setback, the broader picture for the first quarter of 2026 remains positive. Total revenue for the first three months of the year reached US$152 million (KRW229.7 billion), representing a 1.8% increase compared to the same period in 2025.
- Table Revenue: Up 1.0% year-on-year.
- Machine Revenue: Surged by 23.6%, indicating healthy demand in the mass-market slot segment.
- Table Drop: Increased by 3.6% to US$1.17 billion (KRW1.76 trillion).
Paradise Co. March Revenue Plummets 39.6% Despite Quarterly Growth Surge
SEOUL, SOUTH KOREA — April 6, 2026: South Korean foreigner-only casino giant Paradise Co. Ltd has reported a sharp contraction in its gaming revenue for March, marking a significant departure from its early-year momentum. According to the company’s latest financial disclosure, casino revenue for the month fell by 39.6% year-on-year and 44.0% sequentially from February, totaling US$32.8 million (KRW49.5 billion).
The Revenue Gap: Table Games vs. Machine Play
The downturn was primarily driven by a steep decline in high-stakes table play. Despite a sequential increase of 9.7% in table drop, the amount of cash exchanged for chips, total table revenue plummeted by 43.4% year-on-year to US$29.1 million. This suggests a lower-than-average “hold” rate for the house during the month. While the operator did not provide a specific explanation for the March volatility, the figures highlight the inherent variance of the premium VIP sector.
Q1 2026: A Resilient Quarterly Performance
Despite the March setback, the broader picture for the first quarter of 2026 remains positive. Total revenue for the first three months of the year reached US$152 million (KRW229.7 billion), representing a 1.8% increase compared to the same period in 2025.
- Table Revenue: Up 1.0% year-on-year.
- Machine Revenue: Surged by 23.6%, indicating healthy demand in the mass-market slot segment.
- Table Drop: Increased by 3.6% to US$1.17 billion (KRW1.76 trillion).
Paradise Co. continues to operate its flagship casino resorts in Seoul, Busan, and Jeju, alongside its 55% controlling interest in the Paradise City integrated resort near Incheon Airport, a joint venture with Japan’s Sega Sammy Holdings. The quarterly growth suggests that while monthly fluctuations persist, the South Korean market is maintaining a steady upward trajectory in 2026.
