• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

S.Korea casino op GKL sees 2019 profit dip 7pct

Feb 11, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck  


S.Korea casino op GKL sees 2019 profit dip 7pct

Annual profit at South Korea’s Grand Korea Leisure Co Ltd (GKL) – an operator of foreigner-only casinos in that country – fell 6.9 percent to just under KRW72.40 billion (US$61.2 million). That was on calendar-year 2019 sales that rose 2.2 percent year-on-year, to KRW490.75 billion, from KRW480.34 billion.

In early January, GKL had told the Korea Exchange that its total 2019 casino revenue had risen modestly. Aggregate casino sales had been KRW493.10 billion. Table revenue for the period was KRW434.02 billion, up 2.1 percent from full-year 2018, while machine revenue increased by 2.7 percent year-on-year, to KRW59.08 billion.

In Tuesday’s announcement, GKL said fourth-quarter profit for the three months ending December 31, actually rose 167.5 percent year on year, to just above KRW18.31 billion, from just under KRW6.85 billion in the prior-year period. That was via quarterly sales that rose 17 percent, to nearly KRW130.85 billion, from just under KRW111.84 billion.

The group – a unit of the Korea Tourism Organization – didn’t give any commentary in its Tuesday summary regarding the reason for the final-quarter improvement in profit and sales.

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.

GKL’s operating income for 2019 fell 7.9 percent, to just under KRW96.80 billion, from KRW105.06 billion a year earlier. Quarterly operating income went up 181.5 percent year-on-year, to nearly KRW22.77 billion, from slightly below KRW8.09 billion.

In a separate Tuesday filing, GKL said it proposed to pay an annual dividend – amounting in total to KRW32.72 billion – to shareholders that were registered as of December 31 last year. The group is due to hold a board meeting on March 26 that is expected to ratify the proposal.


  • tweet
Related articles
  • Direct HK to Jeju flights cancelled amid Covid row
    Direct HK to Jeju flights cancelled...

    Jan 12, 2023  

  • Grand Korea casino sales up nearly 200pct in 2022
    Grand Korea casino sales up nearly...

    Jan 03, 2023  

More news
  • Tak Chun execs knew illicit to settle proxy in Macau: trial
    Tak Chun execs knew illicit to settle...

    Jan 31, 2023  

  • Chinese comeback limited impact on Singapore IRs: bank
    Chinese comeback limited impact on...

    Jan 31, 2023  


Latest News

Tak Chun execs knew illicit to settle proxy in Macau: trial

Tak Chun execs knew illicit to settle proxy in Macau: trial

Jan 31, 2023  

A Tuesday Macau court session heard allegations of ‘proxy bets’ being facilitated overseas on behalf of customers of former casino junket brand Tak Chun Group, with bet settlement done via Macau,...
Read More
Chinese comeback limited impact on Singapore IRs: bank

Chinese comeback limited impact on Singapore IRs: bank

Jan 31, 2023  

IGSA names new chair, board members for 2023

IGSA names new chair, board members for 2023

Jan 31, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$1.08 billion

Total income for 2022 reported by the Philippine Amusement and Gaming Corp



Most Popular

  • Available Macau casino tables busy at tail of CNY holsAvailable Macau casino tables busy at tail of CNY hols January 27, 2023
  • Almost half million visitors to Macau for 7 days of CNY holsAlmost half million visitors to Macau for 7 days of CNY hols January 30, 2023
  • Macau visitor momentum kept for post CNY weekendMacau visitor momentum kept for post CNY weekend January 30, 2023
  • Junket boss Levo Chan heard okaying illicit bets: courtJunket boss Levo Chan heard okaying illicit bets: court January 30, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us