On February 26, Paradise Group reported they achieved a profit in 2019, cementing a solid improvement from their overall loss in 2018. In their filing with the Korea Exchange, they reported a net income of KRW14.96 billion ($12 million) for 2019. The South Korean foreigner-only casino operator reported a net loss of KRW21.05 billion ($17 million) in 2018.

This came primarily as a result of increased casino sales at the Paradise City casino, which reported an annual profit of KRW20 billion ($17 million). The total sales at Paradise Co. were up by 24.4% in 2019 over the previous year, when they reported a total sales of KRW979.43 billion ($810 million), while the previous year was just under KRW787.62 billion ($650 million).

Paradise City was of course the engine behind this growth, with a reported sales of KRW463.17 billion ($380 million) for 2019, accounting for 47.3% of the overall sales for the operator. This was also a one-year gain of 53.6% for the casino’s operations.

This great news comes at a nerve-racking time for the South Korean casino industry. Growing concerns about the coronavirus have led to a temporary shutdown at the Kangwon Land facility. The shutdown of the only casino that South Korean residents are allowed to use began on Sunday and was to end at 6 AM on February 26, but has been extended to February 29.