Paradise Co 3Q26 Casino Revenue Rises 23.4% on Stronger Table Hold

Kyle Kevin

iGaming Writer

Fact Checked

Paradise Co’s third-quarter casino revenue climbed 23.4% to KRW268.21 billion ($199.7 million), powered by a 12.91% table hold as Japanese and other VIP drop outpaced a weaker Chinese VIP segment.

Paradise Co’s third-quarter casino revenue climbed 23.4% year-on-year to KRW268.21 billion ($199.7 million), the strongest quarterly result the company has posted in the current cycle. Table hold reached 12.91%, up from 11.26% a year earlier, while table drop grew a more moderate 8.3% to KRW1.96 trillion ($1.46 billion). The result was filed through the company’s October 2nd Korea Exchange report, covering the three months ended September 30.

Paradise Co 3Q26 Casino Revenue Surge

The hold improvement is the engine behind the revenue jump. Q3 table hold reached 12.91%, meaning the group retained a larger share of table drop as casino revenue. As a result, revenue grew 8.4% sequentially to a quarter where table drop fell 4.9%. That is the unusual combination: revenue up while the gross gaming revenue beneath it goes down, and hold is the variable that explains the difference.

The trend strengthened through the month. In September alone, table hold rose to 13.40% from 10.17% a year earlier, lifting casino revenue 38.2% year-on-year to KRW86.73 billion ($64.6 million). The September figure was nonetheless 16.8% below August, so the quarter’s growth is being delivered in a slower month. For Paradise Co, the September casino revenue result confirms the hold improvement rather than a one-off bounce.

September casino revenue reached KRW86.73 billion, up 38.2% year-on-year but down 16.8% from August. The two figures sit in the same quarter, which makes the year-on-year growth the headline while the sequential decline is the caution. Following this, the group’s hold ratio of 13.40% in September is the clearest sign that the quarterly result is structural rather than a temporary spike.

Japanese and Other VIP Lead Drop

Japanese VIPs remained Paradise’s largest source of table drop, contributing KRW810.18 billion ($603.2 million), up 6.7% year-on-year. Visiting days from the segment rose 9.6% to 24,826, so the growth is not just a matter of bigger checks on a flat base. Japanese VIP drop is the anchor of the quarterly increase, and it is the segment that would be hardest to replace if Chinese VIPs weakened further.

The strongest drop growth came from customers classified as other VIPs, whose contribution rose 32.9% to KRW404.68 billion ($301.3 million). Based on the company’s figures, this segment accounted for approximately two-thirds of the overall year-on-year increase in quarterly table drop. In contrast, the group’s mass-market drop increased only 6.0%, so the upside is concentrated in high-value customers rather than spread across the floor.

Chinese VIP play is the drag. Chinese VIP drop fell 9.3% year-on-year in the third quarter to KRW278.47 billion ($207.3 million), and Chinese VIP visiting days declined 16.0% to 7,963. The company counts days on which customers visit, rather than unique individuals, so the 16.0% fall reflects repeat attendance as well as customer numbers. In September, Chinese VIP drop returned to year-on-year growth, rising 3.1%, but the improvement was not enough to reverse the quarterly decline.

Paradise City Carries the Growth

The revenue increase is concentrated at one property. Paradise City’s third-quarter casino revenue rose 25.1% year-on-year to KRW146.32 billion ($108.9 million), while its table drop grew a more moderate 1.4%. Incheon contributed approximately 57.7% of the group’s quarterly casino revenue increase, based on calculations from the operating data. That single-property share is the clearest reason for the 23.4% group-level rebound.

The remaining properties added, though at a slower pace. Casino revenue also grew at Walkerhill, Busan and Jeju Grand. As a result, the group’s 23.4% headline is being pulled upward by Incheon rather than delivered evenly across the portfolio. For Asian operators watching Paradise Co’s AGBrief reporting, Incheon’s table drop is the number to watch as the group moves into its fourth quarter.

The divergence between Paradise City’s 25.1% revenue growth and its 1.4% table drop drop points to hold rather than volume. Incheon’s hold must have improved materially to produce a 23.4% group revenue surge on a quarter where table drop grew only 8.3%. Following this, the next filing should confirm whether the improvement held through Q4 or whether it was another September-style spike.

Nine-Month Revenue Runs Ahead

The first nine months of 2026 tell a steadier story. Paradise’s casino revenue increased 10.8% year-on-year to KRW744.59 billion ($554.3 million) across the period, up sharply from the flat third quarter of a year earlier. The nine-month growth rate is close to half of the quarterly surge, and it suggests the recovery has been broadening rather than sitting in a single month.

The 10.8% nine-month figure leaves room for Q4 to accelerate toward the annual target. If the fourth quarter matches the September hold ratio of 13.40%, Paradise’s full-year casino revenue could outpace the 10.8% nine-month run rate. The company’s own monthly operating data supports this view, with Q3 casino revenue up 23.4% while table drop grew only 8.3%, and the trend held through the September filing. The remaining question is whether other VIP markets can keep pace with Japanese and other VIP growth.

Frequently Asked Questions

This article has been thoroughly researched and reviewed by the CasinoBait editorial team to ensure accuracy and relevance for Asian casino players.