GGRAsia – GKL, Lotte Tour see April 2024 casino table sales dip m-o-m

GKL, Lotte Tour see April 2024 casino table sales dip m-o-m

May 02, 2024 Newsdesk Latest News, Rest of Asia, Top of the deck

April sales at Grand Korea Leisure Co Ltd (GKL), an operator in South Korea of foreigner-only casinos, fell 19.7 percent month-on-month, to just under KRW32.43 billion. Year-on-year, such sales were down 28.9 percent on April 2023.

GKL’s table-game sales in April were just above KRW29.42 billion, down 21.2 percent sequentially and down 30.3 percent year-on-year.

Machine-game sales were little-changed month-on-month, at just below KRW3.01 billion, a 1.8 percent deterioration from March. Year-on-year, April machine-game sales were down 11.1 percent.

For the first four calendar months of 2024, overall sales were almost KRW126.10 billion, down 17.7 percent year-on-year. No commentary was given on the reasons for the deterioration in sales.

April’s casino table drop – money exchanged for chips – was KRW319.43 billion, flat versus March, but up 7.8 percent from April 2023.

Casino drop for the first four months this year was nearly KRW1.24 trillion, an increase of 17.6 percent year-on-year.

GKL operates three foreigner-only Seven Luck-branded casinos. Two are in the capital Seoul, and one is in the southeastern port city of Busan.

The company is a subsidiary of the Korea Tourism Organization, which is affiliated with South Korea’s Ministry of Culture, Sports and Tourism.

For April, Lotte Tour Development Co Ltd, the promoter of the Jeju Dream Tower casino resort on South Korea’s Jeju Island, reported casino sales down 8.1 percent month-on-month, at nearly KRW20.39 billion. Judged year-on-year, such sales were up 104.8 percent.

Jeju Dream Tower’s April hotel sales were just under KRW7.49 billion, up 36.5 percent from March, and 8.2 percent better judged year-on-year.

April 2024’s table game sales were almost KRW19.52 billion, down 7.7 percent sequentially, but up 114.6 percent annually.

Machine-games performance was KRW873.0 million, down 16.7 percent from March, but up 1.4 percent year-on-year.

Accumulated casino sales for January to April inclusive were nearly KRW90.40 billion, up 243.5 percent year-on-year.

Lotte Tour’s casino table drop for April was KRW128.31 billion, up 5.2 percent from March, and a rise of 32.6 percent year-on-year.