Paradise Co Ltd, an operator of foreigner-only casinos in South Korea, says its fourth-quarter net loss stood at KRW59.21 billion (US$52.83 million), a 263.3 percent increase from the KRW16.30 billion recorded in the preceding quarter. The company had reported a net loss of nearly KRW9.52 billion in the fourth quarter of 2019.
The casino firm reported earnings before interest, taxation, depreciation and amortisation (EBITDA) of KRW6.92 billion for the three months to December 31, compared to a negative result of KRW5.23 billion in the preceding quarter. The firm’s EBITDA was still down 84.2 percent in year-on-year terms.
The company said in a Thursday filing that aggregate sales for the three months to December 31 was KRW104.59 billion, a 15.5 percent improvement sequentially. Such sales were down 61.2 percent from a year earlier.