May casino sales up 215pct m-o-m at GKL in S. Korea

Jun 02, 2022 Newsdesk Latest News, Rest of Asia, Top of the deck  

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May’s casino sales at Grand Korea Leisure Co Ltd (GKL), an operator in South Korea of foreigner-only casinos, rose 215.4 percent month-on-month, to KRW18.21 billion (US$14.7 million), versus KRW5.77 billion in April. Judged year-on-year, May 2022 sales were up 78.9 percent.

As usual, table-game sales made up the bulk of the monthly revenue, at KRW16.18 billion, up 332.0 percent sequentially. Judged year-on-year, May table sales rose 95.7 percent.

The Korea Exchange-listed firm’s monthly data filings do not provide commentary on the reasons for fluctuations of business performance. May’s improvement did coincide with an easing in South Korea – from April 1 – of some Covid-19 countermeasures.

Grand Korea Leisure’s machine-game sales for May were flat, at KRW2.03 billion. They were up 6.2 percent from the prior-year period.

Judged over the first five months of the calendar year, the group’s aggregate casino sales were nearly KRW70.28 billion, a year-on-year increase of 175.9 percent.

Casino drop for Grand Korea Leisure – the amount paid by customers to purchase table game chips – rose 32.0 percent month-on-month in May, to KRW138.63 billion. Judged year-on-year, drop improved by 65.9 percent in May.

Measured for the year to May 31, drop reached KRW532.20 billion, up 166.3 percent year-on-year.

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

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