South Korean and local casino operator Farada reportedlyIS COMPANY ANNOUNCED SEPTIC GAME SALES DOWN 53.6% Y/Y TO ONLY $8 MILLION.

The Seoul-listed company’s results showed an 84% drop compared to its August earnings of about $51.4 million, and came after South Korea implemented a new set of measures to help stem the ongoing spread of the coronavirus pandemic, according to a report by Inside Asian Gaming. The source detailed that South Korea recorded up to a new daily infection rate of up to 2 for the week Sunday, even though the rate was halved as a result of a nationwide campaign and increased vaccinations.

Paradise Company Limited is responsible for the huge Paradise City integrated casino resort near the port city of Incheon and small hotel-based operations in Jeju, Busan and Seoul. All of this is rumored to have seen a significant drop in customer numbers while the company’s only property in the South Korean capital was recently operating under strict coronavirus-related quarantine restrictions, which extended another two weeks to Oct. 18.

Paradise Company Limited avoided specific responsibility for the coronavirus’s recent slump, but nevertheless noted September tally table declines of 24.8% year-on-year and 44.4% month-on-month to about $85.6 million, all from a 27.7% year-on-year decline in an area of $157.9 million.

Staying in South and Inside Asian Gaming reported that fellow casino operator Grand Korea Leisure Company Limited offset the downward trend seen by its larger competitors after posting $7.8 million in total sales in September, up 7% from the previous month. The Seoul headquarters is responsible for three Seven Luck brand gambling companies located in Millennium Hilton Seoul, Intercontinental Seoul COEX and Lotte Busan Hotel.Decreasing transitions:

Nevertheless, Grand Korea Leisure Co., a subsidiary of the Korea Tourism Organization and parent of the Ministry of Culture, Sports and Tourism, saw its September total deal fall slightly from the previous month to about $58.9 million, with the nine-month figure falling 60.3 percent to about $425.7 million.

South Korea’s casino industry has been hit hard by the coronavirus pandemic and its tax contribution plunged 82.4 percent last year, compared with $70.7 million. The state-run Kangwon Land Casino of Kangwon Land Co., Ltd. reported a $51.8 million tally, just over 73 percent of taxes collected from 17 gambling-friendly properties in the country. 온라인카지노

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