Paradise Co reported its highest ever full-year revenue and operating profit in 2025, even as fourth-quarter earnings reflected the impact of rising labour costs, expanded marketing spend and several one-off items.
According to the company’s earnings announcement, consolidated revenue for FY2025 reached KRW 1.15trn (US$866.9m), up 7.3% year-on-year, while operating profit rose 14.9% to KRW 156.4bn. The strong annual performance was driven primarily by the sustained recovery of inbound tourism and robust mass-market casino activity.
Fourth-quarter revenue climbed 10.5% year on year to KRW 293.9bn, supported by growth at Paradise City Casino and Hotel Busan. Operating profit for the period, however, declined 14% to KRW 16.7bn as operating expenses rose by KRW 30.7bn. This included KRW 19.4bn in labour-related costs from workforce expansion and incentive payments, KRW 7.5bn in additional advertising spend and approximately KRW 8.5bn in combined one-off impacts.
Paradise SegaSammy delivered standout results, posting record quarterly revenue of KRW 156.1bn, up 20.9% and surpassing its peak season in 2Q25. Mass drop increased 34.9%, continuing the strong momentum seen earlier in the year. The hold rate rose 1.4 percentage points, while casino revenue grew 24.8%. Despite higher COGS and labour costs, operating profit margin improved by 7.7 percentage points due to strong top-line performance and a reclassification of a KRW 8.5bn local tax refund into operating profit.
For the separated Paradise operations, including Walkerhill and Busan casinos, fourth-quarter revenue totalled KRW 106bn. Walkerhill revenue declined 8.2%, but Busan rose 29.6% year on year. Operating loss reached KRW 1.9bn, largely due to higher labour expenses and one-off service fees tied to the Jangchung-dong hotel project.
Hotel Busan saw occupancy surge to 84.3%, lifting revenue to KRW 29.5bn and operating profit to KRW 1.2bn, a 416% increase.
Company-wide casino revenue for 4Q25 reached KRW 227.1bn, up 11.2%, with mass-market drop rising 24.6% and total drop amount reaching KRW 1.8trn.
Paradise Co operates four foreigner-only casinos in South Korea, including Paradise City in Incheon and Walkerhill in Seoul
