February casino sales at Grand Korea Leisure Co Ltd (GKL), an operator in South Korea of foreigner-only casinos, saw both sequential and year-on-year improvement, according to a filing to the Korea Exchange on Wednesday.
Grand Korea Leisure’s February casino sales reached nearly KRW38.08 billion (US$25.8 million), rising 17.3 percent year-on-year. Judged sequentially, such sales went up 4.0 percent.
The firm’s February table-game sales were just above KRW34.75 billion, 15.9-percent higher than a year ago, and up 5.0 percent month-on-month.
Machine-game sales last month were approximately KRW3.32 billion, an increase of 35.0 percent year-on-year, though down 5.4 percent sequentially.
Grand Korea Leisure runs three foreigner-only, Seven Luck-branded, casinos. Two are in the capital Seoul, including one at Gangnam. Its third is in the southeastern port city of Busan.
The casino firm is a subsidiary of the Korea Tourism Organization, which in turn is affiliated to the country’s Ministry of Culture, Sports and Tourism.
The Seoul Gangnam casino continued as the largest contributor to group-wide casino sales in February, showed a separate set of supplementary data. It generated nearly KRW19.27 billion in casino sales last month.
Seoul Dragon City casino recorded approximately KRW13.73 billion in casino sales. The Busan Lotte casino reported sales of nearly KRW5.08 billion in February.
In February, Grand Korea Leisure’s three casinos reported aggregate casino drop of nearly KRW285.70 billion, an increase of 9.4 percent from a year earlier, but down 6.6 percent month-on-month.
The average hold rate of those three venue’s casino games stood at 13.3 percent in February, versus 12.0 percent in January and 12.4 percent a year ago, according to Grand Korea Leisure’s supplementary data set.
The latest results took Grand Korea Leisure’s aggregate casino drop of the first two months of this year to KRW591.73 billion, up by 12.1 percent year-on-year.
