Paradise Co, which is a casino operator located in South Korea, observed its 2020 betting revenue tumbled by more than half of its normal amount. It might be the reason behind the company’s choosing to reopen its Seoul venue despite little betterment in the country’s pandemic condition.
Paradise proclaimed that its December betting revenue netted around $38.9 million which is nearly about 40% decline from the exact month last year. Table games the real claimer for December’s gain which almost quintupled from November, while digital gaming machine revenue reduced by around one-fifth.
December Condition
December’s stand drew full-year revenue of Paradise to $308 million and down 57% from the previous year’s result. Table games had been down almost 58% while EGM revenue slid down 44.4%.
The venue of Walkerhill relaunched to the public on Monday at 7 am ending in mid-December. This is the time when the state government shifted the city to the second highest of its pandemic controlling level. Grand Korea Leisure, which is rival to Paradise property in Seoul and Walkerhill, had been limited and regulated to only 20% of its capacity.
As with the condition that kept sway prior to the company’s December closure, guests of Walkerhill must go through a Covid-19 test run by an established and recognized medical facility in the past seven days to achieve entry.
Counting the exception of Kangwon Land, all the casinos in South Korea are off-limits a regional resident, making them dependent on a constant stream of global tourists. However, as of the last Friday, the country is imposing some new prohibitions on all types of inbound visitors, requiring evidence of a negative virus test within 72 hours before the arrival in South Korea. The casino that got closed in December for the third time and stays closed currently, has been approved to run through December.
