Grand Korea Leisure August casino sales up 16 pct m-o-m

Sep 03, 2021 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Grand Korea Leisure Co Ltd, an operator in South Korea of foreigner-only casinos, reported casino sales of just above KRW8.80 billion (US$7.6 million) in August, up 16.3 percent month-on-month. Such sales however fell by 31.0 percent from the nearly KRW12.76 billion achieved a year ago.

Grand Korea Leisure’s table game sales for August this year were nearly KRW7.21 billion, up 18.4 percent from July. The figure was down 34.7 percent in year-on-year terms.

Machine game sales for last month were nearly KRW1.60 billion, up 7.8 percent sequentially, but a decline of 7.3 percent from the prior-year period.

The company had reported a decline in casino revenue in July, as it paused casino operations at its two Seoul properties a few times during that month, as a pandemic countermeasure.

Korea Exchange-listed Grand Korea Leisure 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.

In the first eight months of 2021, Grand Korea Leisure’s casino sales were KRW56.66 billion, down 64.6 percent from a year earlier. Aggregate sales for table games in the period were nearly KRW47.51 billion, down 66.3 percent in year-on-year terms; while machine game sales fell by 52.2 percent year-on-year, to approximately KRW9.16 billion.

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