Grand Korea Leisure July casino sales halved m-o-m

Aug 05, 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 KRW7.57 billion (US$6.62 million) in July, down 48.5 percent month-on-month. Such sales represented a decrease of 46.7 percent from a year earlier, the firm said on Wednesday.

Grand Korea Leisure’s table game sales for July this year were nearly KRW6.09 billion, down 54.1 percent from June. The figure was down 47.8 percent in year-on-year terms.

Machine game sales for last month were about KRW1.48 billion, down 4.1 percent sequentially, and a decline of 41.4 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.

Grand Korea Leisure paused casino operations at its two Seoul properties a few times during July, as a pandemic countermeasure.

In the first seven months of 2021, Grand Korea Leisure’s casino sales were just under KRW47.86 billion, a dip of 67.5 percent from a year earlier.

Aggregate sales for table games in the period were nearly KRW40.30 billion, down 69.0 percent in year-on-year terms.

Machine game sales in the year to July 31 were KRW7.56 billion, a decline of 56.7 percent from the prior-year period.

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