• 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 GKL 3Q net profit down despite sales up 2pct

Nov 08, 2019 Newsdesk Latest News, Rest of Asia, Top of the deck  


S. Korea GKL 3Q net profit down despite sales up 2pct

South Korean operator of casinos Grand Korea Leisure Co Ltd (GKL) says the net profit attributable to its shareholders fell to just below KRW25.29 billion (US$21.9 million) in the third quarter of 2019, or 4.1 percent less than a year earlier.

GKL announced in writing on Friday that its third-quarter sales grew by 2.3 percent year-on-year to KRW133.36 billion. Third-quarter operating income stayed flat at just over KRW30.60 billion.

The firm did not give information on the reason for the difference between the relatively modest year-on-year increase in third-quarter sales, versus the decline in net income for the period.

GKL market rival Paradise Co Ltd reported on Thursday net income attributable to shareholders of approximately KRW34.21 billion for the three months ended September 30, up by 626.3 percent in year-on-year terms.

GKL’s net profit for the first nine months of 2019 stood at KRW54.08 billion, down 23.7 percent from the prior-year period.

The firm runs three casinos in the Seven Luck chain – two in Seoul and one in the southern Korean city of Busan – which admit only foreign gamblers. The company is a subsidiary of the South Korean government-run Korea Tourism Organization.

GKL announced on Wednesday that its casino sales for October rose by 1.0 percent year-on-year, to nearly KRW36.45 billion.


  • tweet
Related articles
  • Completion of RFKR Resort to take 15 months: promoter
    Completion of RFKR Resort to take 15...

    May 25, 2023  

  • Return of Chinese clients to aid S.Korea casinos: brokerage
    Return of Chinese clients to aid...

    May 23, 2023  

More news
  • Much interest in state casinos sale, says Pagcor boss Tengco
    Much interest in state casinos sale,...

    May 30, 2023  

  • Dividend restart still far for Macau ops: JP Morgan
    Dividend restart still far for Macau...

    May 30, 2023  


Latest News

Much interest in state casinos sale, says Pagcor boss Tengco

Much interest in state casinos sale, says Pagcor boss Tengco

May 30, 2023  

Alejandro Tengco (pictured in a file photo), chairman and chief executive of the Philippine casino regulator, the Philippine Amusement and Gaming Corp (Pagcor), has told GGRAsia it has already had...
Read More
Dividend restart still far for Macau ops: JP Morgan

Dividend restart still far for Macau ops: JP Morgan

May 30, 2023  

Gaming industry in for a very exciting period: Bill Miller

Gaming industry in for a very exciting period: Bill Miller

May 30, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


6,000

Total number of visitors expected at the Global Gaming Expo (G2E) Asia 2023 Special Edition: Singapore, running from May 30 to June 1



Most Popular

  • Cotai Expo hotel extra to licence capex, says GoldsteinCotai Expo hotel extra to licence capex, says Goldstein May 29, 2023
  • Ian Coughlan out of Wynn Macau Ltd board, Cameron-Doe inIan Coughlan out of Wynn Macau Ltd board, Cameron-Doe in May 29, 2023
  • Londoner Macao to host Harry Potter exhibition in DecLondoner Macao to host Harry Potter exhibition in Dec May 29, 2023
  • Londoner Macao pulls in foreigners and Chinese: LVS CEOLondoner Macao pulls in foreigners and Chinese: LVS CEO May 25, 2023
  • Suntrust agrees to US$6mln loan from chairman Andrew LoSuntrust agrees to US$6mln loan from chairman Andrew Lo May 29, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us