GKL flags business shakeup amid regional competition

Jun 06, 2024 Newsdesk Latest News, Rest of Asia, Top of the deck  

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A foreigner-only casino operator in South Korea says it is looking to sell its expertise in casino business and casino information technology to other emerging gaming markets. It is one element in a three-part, long-term, plan to shake up Grand Korea Leisure Co Ltd’s (GKL’s) business amid growing regional competition.

Grand Korea Leisure Co Ltd (GKL), didn’t mention specific target markets for selling its services. But it did highlight the fact that South Korea would face rivalry from a casino industry in Japan, and possibly one in Thailand.

Korea Exchange-listed Grand Korea Leisure launched on Friday what it termed a new “business task force”. Its three areas of focus would be: casino business expansion overseas; casino business digitalisation; and tourism industry education.

A statement from the company said the task force team had joint chairs: GKL’s chief executive Kim Young-San, and the head of its workforce union; plus 11 GKL officials.

It stated “casino business expansion aimed at overseas” would aim to: export what it termed “superior’ manpower, exclusive casino IT technology, and casino business consulting.

According to the press release, Mr Kim said at an event to launch the task force: “With Japan and [possibly] Thailand entering the Asian casino business, we expect heightening competition, and inbound tourists to South Korea changing their consumption patterns… consequently, we must prepare for the future.”

In April, Grand Korea Leisure said it would step up its consumer marketing effort in Japan in the second half this year.

Grand Korea Leisure operates three foreigner-only casinos under the Seven Luck brand: two in the capital Seoul, and one in the southern port city of Busan.

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