Grand Korea Leisure’s July casino sales dip 48pct m-o-m

Aug 05, 2024 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Gaming sales at Grand Korea Leisure Co Ltd, an operator in South Korea of foreigner-only casinos, fell 48.1 percent month-on-month in July, according to a Monday filing to the Korea Exchange.

Such casino sales were just under KRW19.23 billion (US$14.0 million), compared to KRW37.02 billion in June.

Judged year-on-year, monthly casino sales fell 38.2 percent on July 2023’s nearly KRW31.13 billion.

Table game sales for July this year were 86.1 percent of all casino sales for the month, at KRW16.56 billion. The figure was halved from the previous month, and 40.4-percent lower from a year earlier.

Machine game sales made up the rest, at KRW2.66 billion. That figure was down 4.3 percent month-on-month, and down 20.0 percent year-on-year.

The July sales data took the tally for the first seven months this year to nearly KRW211.80 billion, down 11.4 percent year-on-year.

July casino drop – the amount paid by customers to purchase chips – was KRW303.87 billion. That was up 2.6 percent month-on month, and up 23.4 percent year-on-year.

No commentary was given to explain why casino sales went down sequentially and year-on-year in July, even though drop went up for that month, measured sequentially and judged annually.

For the first seven months of this year, Grand Korea Leisure’s casino drop was KRW2.16 trillion, up 17.7 percent year-on-year.

The company operates three foreigner-only casinos under the Seven Luck brand: two in the capital Seoul and one in the southern port city of Busan.

The group is a subsidiary of the Korea Tourism Organization, which in turn is affiliated to South Korea’s Ministry of Culture, Sports and Tourism.

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