• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

GKL posts US$33mln loss in 1Q as sales plummet

May 11, 2021 Newsdesk Latest News, Rest of Asia, Top of the deck  


GKL posts US$33mln loss in 1Q as sales plummet

Grand Korea Leisure Ltd (GKL), a South Korean operator of foreigner-only casinos, reported a first-quarter net loss of KRW37.43 billion (US$33.4 million), compared with net income of just under KRW14.72 billion in the prior-year period. The company had reported a net loss of nearly KRW32.71 billion in the fourth quarter of 2020.

First-quarter sales at GKL decreased by 95.3 percent year-on-year to KRW5.27 billion, the firm said in a Tuesday filing with its unaudited quarterly results to the Korea Exchange. It was a 64.7-percent decline from the final quarter of 2020.

The company reported an operating loss of approximately KRW46.64 billion for the three months to March 31, compared with an operating profit of nearly KRW26.92 billion a year earlier.

GKL is a subsidiary of the Korea Tourism Organization, which in turn is affiliated to South Korea’s Ministry of Culture, Sports and Tourism. The casino-operating entity runs three foreigner-only casinos in South Korea under the Seven Luck brand: two in the capital Seoul, and one in the southern port city of Busan.

The casino operator reopened its Seoul venues, Gangnam COEX, and Gangbuk Hilton, on March 15. The group’s Seven Luck Casino Busan Lotte venue had resumed operations on February 15. The three properties had been shuttered since November 24 as a Covid-19 countermeasure.

In a filing to the Korean bourse last week, GKL said its April casino sales rose by 48.4 percent year-on-year, to KRW8.83 billion.


  • tweet
Related articles
  • Chau, other defendants ordered to pay US$1.1bln: court
    Chau, other defendants ordered to pay...

    Jan 18, 2023  

  • Direct HK to Jeju flights cancelled amid Covid row
    Direct HK to Jeju flights cancelled...

    Jan 12, 2023  

More news
  • Available Macau casino tables busy at tail of CNY hols
    Available Macau casino tables busy at...

    Jan 27, 2023  

  • Macau economy to see double-digit growth in 2023: AMCM
    Macau economy to see double-digit...

    Jan 27, 2023  


Latest News

Available Macau casino tables busy at tail of CNY hols

Available Macau casino tables busy at tail of CNY hols

Jan 27, 2023  

Some Macau casinos visited by GGRAsia on Thursday, actually had tables that were closed, notwithstanding strong consumer demand during Chinese New Year (CNY). The reasons for some tables being...
Read More
Macau economy to see double-digit growth in 2023: AMCM

Macau economy to see double-digit growth in 2023: AMCM

Jan 27, 2023  

Macau, APAC early gainers in China tourist return says Fitch

Macau, APAC early gainers in China tourist return says

Jan 27, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


384,600

Aggregate number of visitors to Macau during the first six days of the Chinese New Year holiday break



Most Popular

  • Available Macau casino tables busy at tail of CNY holsAvailable Macau casino tables busy at tail of CNY hols January 27, 2023
  • G2E Asia in-person for Macau in 2023, first time since 2019G2E Asia in-person for Macau in 2023, first time since 2019 January 27, 2023
  • Nearly 70k visitors to Macau on 6th day of CNY breakNearly 70k visitors to Macau on 6th day of CNY break January 27, 2023
  • 71pct of Sands China licence spend for venues says parent71pct of Sands China licence spend for venues says parent January 26, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us