Grand Korea’s Feb casino sales down 30pct m-o-m

Mar 07, 2022 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Grand Korea Leisure Co Ltd (GKL), an operator in South Korea of foreigner-only casinos, saw its February casino revenue fall 29.6 percent compared to January. Such revenue for February was just under KRW6.85 billion (US$5.6 million).

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 year-on-year terms, February casino revenue was up by more than 1,250 percent. Operations at GKL’s venues had been temporarily suspended from November 24, 2020 as a Covid-19 countermeasure. Its Busan casino resumed operations on February 15, 2021, but the Seoul casinos only reopened in mid-March 2021.

GKL’s table game sales for February this year slipped 32.5 percent month-on-month to KRW5.49 billion.

Machine-game sales for February declined by 14.6 percent relative to January, to KRW1.35 billion.

Grand Korea Leisure is a subsidiary of the Korea Tourism Organization, which in turn is affiliated to the Ministry of Culture, Sports and Tourism.

In the first two months of 2022, Grand Korea Leisure’s casino sales were KRW16.65 billion, up by more than 3,000 percent from a year earlier. Aggregate sales for table games in the period were nearly KRW13.63 billion, while machine game sales stood at approximately KRW2.94 billion.

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