GGRAsia – Grand Korea Leisure March casino sales leap m-on-m

Grand Korea Leisure March casino sales leap m-on-m

Apr 07, 2021 Newsdesk Latest News, Rest of Asia, Top of the deck

March casino sales at Grand Korea Leisure Co Ltd, an operator in South Korea of foreigner-only casinos, rose 1,074.0 percent month-on-month, although they were down 49.1 percent judged year-on-year.

Casino sales for March stood at KRW5.95 billion (US$5.3 million), compared to only KRW507.0 million in February.

From November 24 until March 15, both Seoul properties of the group had been shuttered, after the country’s Central Disaster and Safety Countermeasures Headquarters’ decided to tighten social-distancing protocols in the Seoul metropolitan area, as a countermeasure to Covid-19.

The group’s Busan Lotte casino venue in the southern port city of Busan, resumed its operations on February 15, after a period of closure.

In March 2020, before the full effects of the pandemic were felt in the South Korea gaming market, Grand Korea Leisure’s casino sales had been KRW11.68 billion.

In March this year, table game sales were up 1,097.1 percent sequentially from February, at KRW4.98 billion, versus KRW416.0 million. Judged year-on-year, such March sales were down 49.3 percent.

This March, machine game sales were up 968.1 percent sequentially, at KRW972 million, versus KRW91 million in February. Year-on-year, March machine game sales were down 47.9 percent on the nearly KRW1.87 billion from March 2020.

For the three months to March 31, Grand Korea Leisure’s cumulative casino sales were just under KRW6.46 billion, down 94.1 percent on the almost KRW110.23 billion in the first quarter of 2020.

Quarterly table game sales were nearly KRW5.40 billion, down 94.6 percent on the almost KRW99.62 billion from the same period in 2020.

First-quarter 2021 machine game sales were KRW1.06 billion, a decline of 90.0 percent on the almost KRW10.61 billion in the first three months of 2020.

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 group runs the Seven Luck-branded Gangnam COEX, in Seoul, and the Gangbuk Hilton (pictured) gaming venue also in Seoul, as well as the Busan Lotte casino venue.