Grand Korea casino sales up nearly 200pct in 2022

Jan 03, 2023 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Casino sales for 2022 at Grand Korea Leisure Co Ltd, an operator in South Korea of foreigner-only casinos, rose 196.0 percent year-on-year, to nearly KRW265.17 billion (US$208.4 million), the firm said in a Tuesday filing to the Korea Exchange.

Full-year table game sales went up 221.4 percent compared to 2021, at nearly KRW238.91 billion; while machine-game sales increased 72.3 percent, to just under KRW26.26 billion

Table drop for 2022 – the amount paid by customers to purchase chips – went up 163.6 percent year-on-year, to nearly KRW1.99 trillion.

The annual numbers were calculated once the December results had been compiled. The same filing showed December casino sales of nearly KRW30.55 billion; up 8.3 percent sequentially from November, and up 201.4 percent year-on-year.

December table game sales rose 10.9 percent month-on-month, at almost KRW28.37 billion. Judged year-on-year, the gain was 222.6 percent.

The final month’s machine-game sales were KRW2.18 billion, down 16.6 percent sequentially, but up 62.5 percent year-on-year.

Grand Korea Leisure is a subsidiary of the Korea Tourism Organization, which in turn is affiliated to the Ministry of Culture, Sports and Tourism.

The company runs three foreigner-only Seven Luck-branded casinos: two in the capital Seoul, including in Gangnam, and one in the southeastern port city of Busan (pictured).

The group closed on December 30 its Seoul Gangbuk venue in the Millennium Hilton Hotel, and transferred the gaming operation to Seoul Dragon City, with effect from December 31.

Last week it was announced that Grand Korea Leisure was to reduce the size of its China marketing team, and reduce by one-third the number of its liaison offices in Japan.

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