Paradise Co Ltd posts 20.6% rise in Q3 2026 net profit
Quarterly revenue grew 22% and the company is considering a Jeju hotel bid
Key Takeaways
- Paradise Co Ltd's Q3 2026 net profit attributable to shareholders rose 20.6% year‑on‑year to KRW27.78 billion (US$20.8m).
- Quarterly revenue grew 22.0% year‑on‑year to nearly KRW351.66 billion and rose 10.6% sequentially.
- Nine‑month net profit fell 20.0% year‑on‑year to KRW60.04 billion while cumulative revenue increased 12.6% to KRW963.71 billion.
- Paradise Co operates four foreigners‑only casinos: Walkerhill Seoul, Paradise Busan, Jeju Grand and Paradise City in Incheon, the latter a JV with a unit of Sega Sammy Holdings Inc.
- The company said it is considering participating in an investment tied to the proposed acquisition of Maison Glad Jeju and that "no decision had been made".
Paradise Co Ltd reported that net profit attributable to shareholders rose 20.6% year‑on‑year in the third quarter of 2026, to KRW27.78 billion (US$20.8 million), according to a regulatory filing on Tuesday. On a sequential basis, Q3 profit increased 76.0% versus the prior quarter.
Quarterly results
Earnings for the three months ended 30 September 2026 were achieved on revenue that grew 22.0% year‑on‑year, to nearly KRW351.66 billion. On a quarterly basis, revenue rose 10.6% versus the prior period. Paradise Co's cumulative net profit for the first nine months of 2026 was KRW60.04 billion, a decline of 20.0% year‑on‑year, on cumulative revenue that increased 12.6% to KRW963.71 billion.
Data published in early October showed Paradise Co's aggregate casino revenue for the nine months to 30 September 2026 reached KRW744.59 billion, an increase of 10.8% versus the same period a year earlier.
Assets and corporate moves
Paradise Co operates foreigners‑only casinos across four properties: Walkerhill Seoul; Paradise Busan; Jeju Grand on Jeju Island; and Paradise City, Incheon. Paradise City is a joint venture with a unit of Sega Sammy Holdings Inc. The company confirmed in a regulatory filing on Monday that it is considering participating in an investment linked to a proposed acquisition of the Maison Glad Jeju hotel, and stated that "no decision had been made" regarding the purchase or the terms of any potential deal.
In January 2026 Paradise completed the acquisition of the West Wing of the Grand Hyatt Incheon for KRW210.0 billion, adjacent to the Paradise City complex. The asset was rebranded as Hyatt Regency Incheon Paradise City and increased Paradise City's accommodation capacity by 65.1%, to 1,270 rooms.
Frequently Asked Questions
What was Paradise Co's net profit in Q3 2026?
Net profit attributable to shareholders was KRW27.78 billion (US$20.8 million) in Q3 2026, up 20.6% year‑on‑year and up 76.0% versus the prior quarter.
How did Paradise Co's revenue perform in Q3 2026?
Q3 revenue grew 22.0% year‑on‑year to nearly KRW351.66 billion and increased 10.6% compared with the previous quarter.
What key assets and operations does Paradise Co own in South Korea?
Paradise Co operates four foreigners‑only properties: Walkerhill Seoul; Paradise Busan; Jeju Grand on Jeju Island; and Paradise City in Incheon, the latter in a joint venture with a unit of Sega Sammy Holdings Inc.
Is Paradise Co involved in any acquisition in Jeju?
Paradise Co said it is considering participation in an investment related to a proposed acquisition of the Maison Glad Jeju hotel and stated that "no decision had been made" about the purchase or its terms.
What hotel capacity change did Paradise Co complete in January 2026?
In January 2026 Paradise acquired the West Wing of the Grand Hyatt Incheon for KRW210.0 billion, rebranded it as Hyatt Regency Incheon Paradise City, and increased Paradise City's room capacity by 65.1% to 1,270 rooms.
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Emilio Navarro
Industry Technology Correspondent
Emilio Navarro covers the cross-cutting technology and business of iGaming — platforms, data and AI, compliance tooling, affiliate marketing, financial results, and the stories that fit no single rubric. The reports open with the announcement, cite vendors and figures exactly as published, and keep a healthy distance from press-release language. When a supplier unveils a new engine or the advertising rulebook changes, Emilio Navarro reports what genuinely changes.
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