S. Korea's Paradise forecasts 4.3% year-on-year rise in September revenue

Korean casino operator Paradise Co Ltd said casino sales rose 4.3 percent year-on-year to 47.7 billion won (about 44.4 million won) in September.

The year-on-year increase in September was mainly driven by a 3.8 percent growth in table game sales to about 44.9 billion won, it said in a filing to regulators this week.

Machine game sales increased 12.2% from KRW 2.5 billion to KRW 2.8 billion in September 2013.

UBS AG analysts said September's increase was again driven by Chinese visitors, showing that South Korea has not been hit by a slowdown in Macau. Mainland China is the main supply market for casinos in both jurisdictions.

For the nine months ended Sept. 30, Paradise's casino sales were KRW 439.7 billion, up 4.0% year-on-year.

Over the nine-month period, revenue from gaming consoles increased 9.7 percent year-on-year to nearly W24.1 billion. Table gaming sales edged up 3.6 percent year-on-year to W415.6 billion.

Table drops, cash exchanged by customers for chips at tables, rose 18.7% year-on-year to nearly 4.0 trillion won in the first nine months of 2014. In September, the company said, they rose 9.5% year-on-year to 395.8 billion won.

Paradise saw its second-quarter earnings fall nearly 36%, despite strong contributions from China's high rollers to the table's fall.

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