Paradise net profit up 31.2 percent in 16Q4

South Korean casino operator Paradise Co. Ltd.’s net profit fell 31.2 percent year-on-year to KRW 4.4 billion (US$3.8 million) in the fourth quarter of 2016.

The results are down from KRW 6.4 billion recorded in 15Q4, due to “extended loss from Paradise Sega Sammy.”

Casino sales fell slightly in the quarter to KRW 151 billion, down 3.7 percent year-on-year.

However, the operator said it saw continuing solid growth from Japanese and local VIPs.

Full-year net profit was down 19.8 percent to KRW 57.6 billion, while casino sales rose 14.2 percent year-on-year to KRW 603.4 billion.