Paradise improves performance by implementing With Corona... Benefit from recovery of Japanese visitors (Kiwoom Securities)
Paradise improves performance by implementing With Corona... Benefit from recovery of Japanese visitors (Kiwoom Securities)
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  • 승인 2021.10.25 10:57
  • 최종수정 2021.10.25 07:59
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(사진=파라다이스)
(사진=파라다이스)

Kiwoom Securities predicted on the 25th that Paradise's performance will improve due to the implementation of With Corona.

It is expected to benefit the most from the recovery of Japanese visitors. Investment opinion 'buy' and target price of 22,500 won were maintained respectively.

Kiwoom Securities said in a report, "It will significantly surpass the consensus with KRW 122.1 billion in sales and KRW 3.2 billion in operating profit in the third quarter," adding, "There has been a drop in all indicators compared to the previous quarter with 8,000 VIP visitors and a KRW 430 billion drop, but the hold rate has improved to 16.4%, predicting KRW 76 billion in total casino sales.".

"The third quarter coincides with the summer vacation season, resulting in the recovery of the non-casino sector, and we estimate the simultaneous improvement of hotels and complex resorts," Kiwoom Securities said.

"There will be no special costs other than variable costs related to casino operations, which will help improve stable profits.".

In particular, its performance is expected to recover in the fourth quarter with the implementation of With Corona.

It is predicted that traffic recovery will take place compared to the third quarter, which was the lowest level, leading to an increase in drop amounts, and performance improvement will occur.

Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com


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