Paradise Co reported lower profit for the second quarter of 2026 even as sales increased from a year earlier, giving the South Korean casino operator a mixed set of results. Net income attributable to shareholders fell 24.4% year on year to KRW15.79 billion, while quarterly sales increased to KRW318.09 billion, according to reporting on the company’s results. The profit figure was also lower than in the previous quarter. The results come after a stronger start to the year for South Korea’s foreigner-only casino market, where Paradise was among the operators reporting higher casino sales during the first two months of 2026. That earlier performance had been linked to increased visitor activity, particularly from Chinese and Japanese tourists. The latest figures show that higher sales did not translate into higher net income for Paradise during the three months to June.
Paradise Co’s Sales Rose While Second-Quarter Profit Declined
The main point in Paradise Co’s second-quarter results is the gap between its sales and its bottom line. Revenue reached KRW318.09 billion, an 11.8% increase from the same quarter a year earlier, while net income attributable to shareholders fell to KRW15.79 billion, down 24.4%. The figures put the latest results in a different light from the company’s sales performance earlier in the year. Paradise reported casino sales of KRW181.2 billion across January and February, up 26.1% year on year, while the amount wagered, known as drop, increased 5.7% to KRW1.1682 trillion. Paradise did not explain the decline. Its filing gave no reason for the year-on-year fall in shareholder profit. One quarter earlier, however, net profit dropped 56.3% and the company’s acquisition of the Hyatt Regency Incheon Paradise City hotel was identified as the main driver, with operating expenses up 13.6% year on year and EBITDA down 24.4%. The hotel contributed KRW6.1 billion to first-quarter revenue while bringing its own costs onto the books.
A regulatory change could compound the pressure. Hana Securities estimates that if a proposed 15% ceiling is set on the share of casino revenue payable to South Korea’s Tourism Promotion and Development Fund, Paradise’s annual operating profit could fall by around 9%.
Paradise’s own investor-relations materials provide another reference point for tracking the company’s financial reporting. Its IR page currently lists its 2026 first-quarter earnings results and monthly reports through June. For readers following the company, the latest results also follow a strong 2025. Paradise reported full-year revenue of KRW1.15 trillion and net profit of KRW144.1 billion for 2025, according to Focus Gaming News. That comparison is useful because it puts the second-quarter decline in perspective without suggesting that one quarter determines the company’s overall performance.
South Korea’s Casino Market Continues To Depend On International Visitors
Paradise’s results come as South Korea’s foreigner-only casino market continues to rely heavily on international visitors. Paradise, along with Lotte Tour Development and Grand Korea Leisure, reported combined net sales of KRW334.1 billion for January and February, up 27% from the same period a year earlier. Paradise accounted for KRW181.2 billion of that total. The earlier increase was reported alongside higher visitor numbers, with January foreign arrivals reaching more than 1.26 million, according to Korea Tourism Organization data cited by iGamingToday. The gap between the two measures will matter through the rest of 2026.
