GGRAsia – Grand Korea Leisure casino sales up 15pct m-o-m in May

Grand Korea Leisure casino sales up 15pct m-o-m in May

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

Grand Korea Leisure Co Ltd, an operator in South Korea of foreigner-only casinos, reported May casino sales that rose 15.3 percent month-on-month.

Such sales were KRW10.18 billion (US$9.2 million) compared to KRW8.83 billion in April, the firm said on Wednesday.

Sales in April had already taken a huge leap – of 48.4 percent – compared to those for March.

In year-on-year terms, May’s casino sales for Grand Korea Leisure were down by 1.7 percent.

Grand Korea Leisure’s table game sales for May this year were just under KRW8.27 billion, an increase of 13.7 percent on the KRW7.27 billion realised in April. The figure was up by 2.4 percent, in year-on-year terms.

Machine game sales for the month were around KRW1.91 billion, an increase of 22.4 percent on the KRW1.56 billion generated in April. Machine game sales were down 16.3 percent compared with the KRW2.28 billion realised in May 2020.

For the calendar year to May 31, Grand Korea Leisure’s casino sales were KRW25.47 billion, a dip of 78.9 percent versus the nearly KRW120.59 billion achieved in the prior-year period.

Aggregate sales for table games were just over KRW20.93 billion, down 80.6 percent in year-on-year terms.

Machine game sales for the initial five months of this year were just under KRW4.54 billion, a decline of 64.8 percent from the prior-year period.

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.

The firm told GGRAsia last month it planned to continue having two casino venues in the country’s capital Seoul, despite media reports that one of its current host venues there is to be sold and demolished for redevelopment.