TLDR Paradise Co’s net income fell 24.4% year on year in the second quarter of 2026. The company still posted higher sales, up 11.8% compared with the same period last year. First half casino sales reached KRW477.62 billion, a 5.1% increase from last year. Hana Securities warned a proposed new casino tax cap could cut annual profit by 9%. The proposed regulation change has not been adopted and remains under discussion.
Paradise Co, a South Korean casino operator, reported lower profit for the second quarter of 2026. The company’s net income fell despite higher sales during the period.
Net income attributable to shareholders dropped 24.4% year on year. It reached just under KRW15.79 billion, or about US$11.2 million.
The result also fell compared with the previous quarter. Net income was down 4.1% from the first quarter of 2026.
The lower profit came even though sales grew during the same period. Paradise Co reported sales of almost KRW318.09 billion for the quarter.
Sales rose 11.8% compared with the same period last year. They also grew 8.2% compared with the previous quarter.
The company did not explain why profit fell while sales rose. No extra details were given in the filing about the drop in shareholder income.
Sales Growth Across the First Half
Paradise Co operates foreigner only casinos in South Korea. Its venues include Walkerhill Seoul, Paradise Busan, Jeju Grand, and Paradise City in Incheon.
Paradise City is run through a partnership with a unit of Sega Sammy Holdings, a Japanese company.
Data released in early July showed casino sales for the first half of the year reached KRW477.62 billion. That was a 5.1% increase from the same period last year.
The company’s casino drop for the first half reached KRW3.81 trillion. Casino drop refers to money exchanged