Jun 02, 2022 Newsdesk Latest News, Rest of Asia, Top of the deck  
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.
Dec 01, 2023
Nov 09, 2023
Dec 01, 2023
Dec 01, 2023
Dec 01, 2023
Fresh event space in casino resorts is welcomed by Macau’s meetings, incentives, conferences and exhibitions (MICE) sector, but visitors’ reception on arrival in the city, high hotel prices, and...
(Click here for more)
”We committed to the government to provide a full business idea and plan for Phase 1b around 12 months after the casino opens, therefore, probably early 2025”
Chen Si
President of the Mohegan Inspire Entertainment Resort in South Korea