Casino Industry Sales, Profit Surge in 1Q
- SEOUL, South Korea (April 12, 2025) — South Korea's casino industry is showing signs of robust recovery, fueled by a resurgence in tourism following what some are calling...
- Figures released by the industry on Thursday indicate a dip in inbound tourism in January, with a 7% to 12% decrease compared to December.
- March proved to be a lucrative month for several key players.Paradise Co.
South Korean Casinos see Boost from Tourism Recovery, Visa Exemptions
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Paradise City“>SEOUL, South Korea (April 12, 2025) — South Korea’s casino industry is showing signs of robust recovery, fueled by a resurgence in tourism following what some are calling a period of ”martial law” in December of last year. Industry analysts anticipate significant gains throughout the year, spurred by the expected influx of Chinese group tourists benefiting from temporary visa exemptions.
Tourism Rebound Drives Casino Revenue
Figures released by the industry on Thursday indicate a dip in inbound tourism in January, with a 7% to 12% decrease compared to December. However, the overall trend points toward a strong rebound, positively impacting major casino operators.
March proved to be a lucrative month for several key players.Paradise Co. reported casino sales of 81 billion won, a 52% increase year-over-year. Grand Korea Leisure (GKL) saw a 3% increase,reaching 41.5 billion won,while Lotte Tourism Development experienced a 46% surge,with sales totaling 32.5 billion won.
Paradise Co. Leads the Pack
Paradise Co., which operates casinos in Walkerhill, Jeju, Busan, and Incheon Paradise City, projects an 8% increase in first-quarter revenue, reaching 286.7 billion won. The company also anticipates an 8% rise in operating profit, totaling 52.1 billion won.
A key performance indicator,the ”drop” (the amount of money exchanged for chips),is estimated at 1.7 trillion won. Of this, 300 billion won came from Chinese VIPs, representing a 76% recovery compared to March 2019 levels. Paradise Co.’s hold rate, or casino win rate, stood at 12.4%, a 1.3 percentage point increase from the same period last year.
GKL Sees Profit Jump
GKL, operating casinos in COEX, Seoul Dragon City, and busan Lotte, forecasts sales of 109.6 billion won, a 12% increase from the previous year. Operating profit is expected to jump by 37% to 18.9 billion won.
while GKL’s drop amount decreased by 10% year-over-year to 82.69 billion won, its hold rate improved considerably, reaching 13.1%,a 2.9 percentage point increase. Notably, the drop amount from Chinese gamblers increased by 17% to 230 billion won.
Lotte Tourism Development Reports Record Sales
Lotte Tourism Development, operator of the Jeju dream Tower Casino, anticipates a 15% increase in revenue, reaching 122.1 billion won. Operating profit is projected to increase by 47% to 12.9 billion won.
The Jeju Dream Tower Casino reported its highest-ever quarterly sales, attracting over 40,000 visitors despite the off-season. The drop amount reached 480.7 billion won, a 25% year-over-year increase, with a hold rate of 17.6%.
Visa Exemptions Expected to boost Tourism
The industry is optimistic about the potential impact of increased Chinese group tourism.
South Korean president Choi Sang-mok announced plans for a temporary visa exemption for Chinese tourists during a People’s Economic Inspection Meeting on March 20, aiming to further accelerate the influx of Chinese visitors.
currently, Chinese group tourists are permitted a 30-day visa-free stay on Jeju Island.
The South Korean government aims to attract 18.5 million tourists this year, including 5.36 million Chinese tourists.
South Korean Casinos: A Resurgence Fueled by Tourism Recovery and Visa Exemptions
Q: What’s happening with the casino industry in South Korea?
The South Korean casino industry is experiencing a robust recovery, thanks too recovering tourism and the expected influx of Chinese tourists.
Q: What’s driving this recovery?
The primary driver is a resurgence in tourism, particularly after a period of downturn. This recovery is further boosted by temporary visa exemptions for Chinese group tourists.
Q: How did the tourism rebound impact casino revenue?
Several key players in the South korean casino market saw notable revenue increases. Here’s a breakdown:
Paradise Co.: Casino sales increased by 52% year-over-year.
Grand Korea Leisure (GKL): Witnessed a 3% increase in sales.
Lotte Tourism Development: Experienced a 46% surge in sales.
Q: Which companies are leading the recovery, and what are their key figures?
the provided data highlights the strong performance of three major players: Paradise Co., GKL, and Lotte Tourism Development. Here’s a summary:
| Company | March Sales (in Billions of Won) | Year-over-Year Change | key Highlights |
| —————————— | ——————————- | ——————— | —————————————————————————————- |
| Paradise Co. | 81 | 52% | Projects 8% increase in first-quarter revenue, with 76% recovery from Chinese VIPs. |
| Grand Korea Leisure (GKL) | 41.5 | 3% | Expects 12% increase in sales, with operating profit to jump by 37%. |
| Lotte Tourism Development | 32.5 | 46% | Jeju Dream Tower Casino reported highest-ever quarterly sales. |
Q: What are the specific financial projections for these companies?
Paradise Co.: Projects an 8% increase in first-quarter revenue, reaching 286.7 billion won. It also anticipates an 8% rise in operating profit, totaling 52.1 billion won.
GKL: Forecasts sales of 109.6 billion won, a 12% increase from the previous year.Operating profit is expected to jump by 37% to 18.9 billion won.
Lotte Tourism Development: Anticipates a 15% increase in revenue, reaching 122.1 billion won. operating profit is projected to increase by 47% to 12.9 billion won.
Q: What is the “drop,” and how does it relate to casino performance?
the “drop” refers to the amount of money exchanged for chips.It’s an crucial key performance indicator for casinos.
Q: How have Chinese VIPs impacted the casinos?
Paradise Co. saw a 76% recovery in the drop amount from Chinese VIPs compared to March 2019 levels, indicating a significant resurgence in high-roller activity from this demographic.GKL also observed an increase in drop amount from Chinese gamblers, by 17%.
Q: What role do visa exemptions play in the industry’s recovery?
Temporary visa exemptions for Chinese tourists, announced by South Korean president Choi Sang-mok, are expected to further accelerate the influx of Chinese visitors, thus boosting the casino industry.
Q: What are the current visa regulations for Chinese tourists?
Currently, chinese group tourists are permitted a 30-day visa-free stay on Jeju Island.
Q: what are the South Korean government’s tourism goals?
The South Korean government aims to attract 18.5 million tourists this year, including 5.36 million Chinese tourists.