South Korea’s casinos post healthy gains, boosted by China visitors

    South Korea’s casinos boasted healthy Q1 revenue gains, boosted by Chinese visitors, news agency Yonhap said, citing industry data. Paradise Group, the country’s biggest casino operator, said revenue gained 17.7 percent to 170.55 billion won ($166.8 million). However, higher costs and the expense of renovations depressed operating profit, which fell 8.8 percent to 32 billion won. VIP drops rose 37.9 percent, according to the figures. Sales at Grand Korea Leisure Co., rose 5.5 percent to 139.1 billion won with operating profit rising 14.9 percent to 47.1 billion won. Kangwon Land, the only casino open to locals, said sales rose 9.1 percent to 373.3 billion won, with operating profit up 16.3 percent on-year to 137.6 billion won.