Paradise Co reports US$64.5M in casino revenue for September, closing a record quarter

Paradise Co reported net casino revenue of KRW86.7 billion (US$64.5 million) in September 2026, a year-on-year increase of 38.2% and a sequential decline of 16.8% from the record high of August. The company completed a record third quarter, with quarterly casino revenue reaching KRW268.2 billion (US$200 million).

Written by Alejandro Vidal, Casino Correspondent.

September Results and Monthly Comparison

September was a softer month for Paradise Co following the record high in August. The net casino revenue in September was KRW86.7 billion (US$64.5 million), representing a growth of 38.2% compared to September of the previous year but a contraction of 16.8% compared to August, when sales reached KRW104.3 billion (US$77.6 million).

The consolidated «drop amount» for September was KRW605.1 billion (US$450 million), up 6.6% year-on-year but down 11.1% from August. Within that total, table game revenue fell by 17.9% sequentially to KRW81.1 billion (US$60.4 million). Meanwhile, machine revenue showed growth: increasing 12.6% year-on-year and 3.2% month-on-month to KRW5.65 billion (US$4.20 million).

Record Quarter and Nine-Month Total

In the first nine months of 2026, Paradise Co's four casinos generated KRW744.6 billion (US$554 million) in casino revenue, an increase of 10.8% compared to the same period last year. The drop amount for those nine months was KRW5.77 trillion (US$4.29 billion), reflecting an 8.1% year-on-year growth.

The company attributes the third quarter's results to an improvement in the hold, which allowed quarterly revenue to reach KRW268.2 billion (US$200 million), surpassing the previous record of KRW247.5 billion (US$184 million) set earlier.

Breakdown by Vertical: Tables vs. Machines

Monthly and quarterly movements show clear differences between segments:

• Table revenue: KRW81.1 billion (US$60.4 million) in September, down 17.9% compared to August.

• Machine revenue (EGMs): KRW5.65 billion (US$4.20 million) in September, representing a growth of 12.6% year-on-year and 3.2% month-on-month.

The sequential decline in table revenue was the main driver behind the monthly decline in total revenue, while the machines partially offset that contraction due to positive annual and monthly variations.

Paradise Co's Operations and Portfolio in Korea

Paradise Co operates four properties catering to foreign customers in the Republic of Korea: Paradise Walkerhill in Seoul, Paradise Jeju Grand in Jeju, Paradise Busan in Busan, and the flagship integrated resort Paradise City in Incheon. The results reported by the company encompass the joint activity of these four facilities during the accounting period.

For readers interested in products and offerings, Paradise Walkerhill maintains its presence in Seoul, while Paradise City acts as the flagship property in Incheon. Paradise Walkerhill and Paradise City are recurring names in the post-pandemic recovery narrative in the South Korean market.

Operational Context and Observations for Investors and Operators

The cumulative growth to September and the record quarterly figures indicate that Paradise Co has registered a recovery in volume and in hold in 2026. The rise in drop amount over nine months to KRW5.77 trillion (US$4.29 billion) supports the expansion of gaming activity among foreign customers in Korea.

At the same time, the monthly volatility—with August being an atypical month and September a correction—highlights the sensitivity of table revenue to short-term factors. Operators and suppliers serving the South Korean market will need to monitor the evolution of occupancy rates, customer mix, and the dynamics of hold at each property.

What to Watch for in Upcoming Reports

Key elements to watch in the coming quarters include maintaining the hold that allowed for the record quarterly performance, stability of the drop amount, and sustained recovery of table revenue. For 2026, Paradise has reported the following concrete milestones:

1. September: KRW86.7 billion (US$64.5 million) in net casino revenue.

2. August (record): KRW104.3 billion (US$77.6 million).

3. First nine months: KRW744.6 billion (US$554 million) in casino revenue.

4. Cumulative drop amount 9M: KRW5.77 trillion (US$4.29 billion).

5. Quarterly revenue Q3: KRW268.2 billion (US$200 million), record.

These figures are what analysts and company management will cite when assessing operational strength and the recovery trend in the Korean market.

Conclusion

Paradise Co closed September with casino revenue that grew year-on-year but declined from the August peak, completing a record third quarter driven by improved hold. The company maintains four casinos for foreign customers in Korea, and the cumulative performance over nine months shows growth in revenue and in drop amount for 2026.