Apr 07, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck  
Casino revenue at Grand Korea Leisure Co Ltd (GKL), a South Korean operator of foreigner-only casinos, fell 72.0 percent year-on-year in March, the company said in a Monday filing to the Korea Exchange. Such revenue was KRW11.68 billion (US$9.55 million), compared to KRW41.72 billion in March 2019.
Casino sales were down 73.4 percent sequentially, according to the firm’s latest filing.
GKL – a subsidiary of the Korea Tourism Organization – 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.
On Monday, GKL reported its table game sales were down 73.5 percent year-on-year in March, while gaming machine sales fell 59.6 percent.
Sales from table games amounted to nearly KRW9.82 billion, from KRW37.10 billion, while sales from machine games totalled approximately KRW1.87 billion, from KRW4.62 billion in March 2019.
The company temporarily suspended on March 24 its casino sites for an initial two weeks, in line with the country’s effort at curbing the further spread of the Covid-19 pandemic. On Monday, GKL said in a separate filing it would extend the closure of its casinos until April 20.
GKL stated in that filing it anticipated lost casino sales would amount to KRW36.3 billion, as measured from the start of its gaming shutdowns on March 24. The estimate was based on the group’s daily casino revenue in full-year 2019, it added.
The firm said also it was considering implementing measures to minimise its losses during the period of business interruption. It did not detail what measures it would be introducing.
GKL’s accumulated casino sales for the first quarter of 2020 were KRW110.23 billion, an improvement of 1.8 percent, according to the latest filing.
Aggregate table games sales for the three months to March 31 this year were nearly KRW99.62billion, up 5.8 percent year-on-year. GKL’s machine game sales for the January to March periodwere down 24.7 percent year-on-year, at KRW10.61 billion.
Jun 07, 2023
Jun 05, 2023
Jun 08, 2023
Jun 08, 2023
Jun 08, 2023
Macau recorded 158 “gaming-related” crimes in the first three months of 2023, up 24.4 percent on the 127 identified in the prior-year period, according to the latest statistics published on...Jun 08, 2023
Gaming content and equipment maker Konami says it is...Jun 07, 2023
Casino gaming content and hardware provider Light &...Jun 06, 2023
Electronic table games (ETGs) supplier Interblock dd is...Jun 05, 2023
Random number generator (RNG) testing tools are among the...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
”I think the gaming sector has a huge potential in coming years. The situation around the pandemic drew a lot of attention from the casino operators to the ETG segment”
Michael Hu
President for the Asia-Pacific region at gaming supplier Interblock