Paradise Co has reported a consolidated revenue of KRW 288.25bn ($210.4m) for the third quarter of 2025, a 7.5% increase year-on-year that was driven by stronger casino performance and record drop volumes at its Paradise City integrated resort in Incheon.
Group operating profit rose 9.1% to KRW 39.51bn, while net profit reached KRW 33.43bn, up 70%. Earnings were supported primarily by a higher casino hold rate and sustained demand from foreign VIP segments.
Casino revenue across Paradise Co's wholly owned properties in Seoul, Busan and Jeju reached KRW 100.36bn, up 18.9%. The improvement followed a 2.7-percentage-point increase in the hold rate.
Drop volume across the group's three core casinos rose to KRW 1.81tn, driven by Japanese VIP play at KRW 759bn, Chinese VIP play at KRW 307bn, and KRW 437bn generated from mass customers.
At Paradise City, operated through a joint venture with Sega Sammy Holdings, revenue increased 2.3% to KRW 149.90bn.
The resort recorded its highest quarterly drop amount to date, exceeding KRW 1tn, representing a 9.9% rise. Gaming revenue for the property reached KRW 116.98bn, up 6.1%.
However, the unit's EBITDA declined 16.9% to KRW 31.15bn, with operating costs rising 3.4% to KRW 108.98bn. Paradise cited temporary cost increases and higher fixed-cost allocation as contributing factors.
Performance across the company's hotels also showed mixed results. Q3 hotel revenue totaled KRW 26.6bn, down 9.4%, although quarter-on-quarter revenue increased 14.2%. Occupancy reached 89.2%, up 4.6%, while ADR was slightly lower at KRW 359,000, down 0.5%.
In October 2025, Paradise Co reported an 18.5% rise in monthly casino revenue, supported by a rebound in inbound tourism and stronger table-game performance across its resort network.
Paradise Co-operates four foreigner-only casinos in Seoul, Incheon, Busan and Jeju under the Paradise brand
