Q3 2026 Revenue Surges 23.4% on Higher Table Hold
Paradise Co. reported a 23.4 percent year-on-year increase in casino net revenue for the third quarter ended September 30, 2026, according to a filing with the Korea Exchange on October 2, 2026. The South Korean foreigner-only casino operator posted total casino revenue of KRW 268.21 billion ($199.7 million) for the period.
The revenue growth was primarily driven by a significant improvement in table hold, which rose to 12.91 percent in the third quarter from 11.26 percent in the same period the previous year. This efficiency gain helped offset a 4.9 percent quarter-on-quarter decline in table drop, allowing overall revenue to grow 8.4 percent from the second quarter. Total table drop for the third quarter reached KRW 1.96 trillion ($1.46 billion), an 8.3 percent increase from the same period last year.
Japanese VIPs Lead Drop Growth as Chinese Segment Contracts
Japanese VIPs emerged as Paradise’s largest source of table drop, contributing KRW 810.18 billion ($603.2 million) in the third quarter. This segment saw a 6.7 percent year-on-year increase in table drop, with visiting days rising 9.6 percent to 24,826. The company noted that visiting days are counted as the number of days on which customers visit, rather than the number of unique individuals.
In contrast, Chinese VIP play continued to contract, with table drop falling 9.3 percent year-on-year to KRW 278.47 billion ($207.3 million). Visiting days for this segment declined 16.0 percent to 7,963. However, the trend reversed slightly in September, when Chinese VIP table drop returned to year-on-year growth, rising 3.1 percent.
Other VIP Segments Drive Two-Thirds of Drop Increase
The “other VIPs” segment, which includes customers from various other nationalities, contributed KRW 404.68 billion ($301.3 million), a 32.9 percent increase over the prior year. This segment accounted for approximately two-thirds of the overall year-on-year increase in the company’s quarterly table drop.
Mass-market table drop also increased, growing 6.0 percent year-on-year. The broad-based growth across VIP segments helped support the company’s overall performance despite the specific weakness in the Chinese high-limit market.
Paradise City Contributes 57.7% of Revenue Increase
Paradise City, located in Incheon, was the primary driver of the group’s growth, contributing approximately 57.7 percent of the increase in quarterly casino revenue. The property’s casino revenue rose 25.1 percent year-on-year to KRW 146.32 billion ($108.9 million), despite a modest 1.4 percent increase in its table drop. Casino revenue also grew at the company’s other properties, including Walkerhill, Busan, and Jeju Grand.
Performance in September 2026 showed volatility, with casino revenue rising 38.2 percent year-on-year to KRW 86.73 billion ($64.6 million) but falling 16.8 percent from August. Table hold in September reached 13.40 percent, up from 10.17 percent in September 2025, while table drop increased 6.6 percent year-on-year.
For the first nine months of 2026, Paradise’s total casino revenue increased 10.8 percent year-on-year to KRW 744.59 billion ($554.3 million).
Why It Matters
Paradise Co.'s results indicate a structural shift in South Korea's foreigner-only casino market, with Japanese and other international VIPs compensating for the decline in Chinese high-limit play. The significant rise in table hold suggests improved efficiency in table games, while the growth at Paradise City highlights the property's central role in the group's recovery. Operators and investors are watching whether the September rebound in Chinese VIP activity signals a sustained recovery or a temporary fluctuation.
Sarah Thompson is an editorial byline used by Casino No Deposits for industry news coverage. Articles published under this byline are summarised from reporting by licensed gambling industry news sources and produced with AI assistance, then published against our editorial rules on accuracy, sourcing and tone. They are not first-hand reporting and do not contain personal player accounts. Our full process, including how bonus listings and ratings are maintained separately by our team, is documented in how we review casinos: https://casinonodeposits.com/how-we-review-casinos/
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