S.Korea op GKL’s March sales up 30pct y-o-y to US$29mln

Apr 03, 2023 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Casino sales at Grand Korea Leisure Co Ltd (GKL), an operator in South Korea of foreigner-only casinos, rose by 30.2 percent year-on-year in March, to just under KRW38.70 billion (US$29.4 million), the firm said in a Monday filing to the Korea Exchange. The latest monthly tally was up 5.2 percent month-on-month.

In the latest reporting month, table-game sales were just above KRW35.77 billion, up 28.1 percent from the prior-year period, and a 4.3-percent increase sequentially. Machine-game sales were just over KRW2.92 billion, up 62.0 percent from a year ago, and 18.8-percent higher month-on-month.

The firm gave no commentary on the reasons for either change.

The company runs three foreigner-only Seven Luck-branded casinos: two in the capital Seoul, including in Gangnam, and one in the southeastern port city of Busan (pictured). The company is a subsidiary of the Korea Tourism Organization, which in turn is affiliated to the Ministry of Culture, Sports and Tourism.

Grand Korea Leisure’s casino sales for the first quarter this year totalled KRW107.55 billion, an increase of 132.3 percent from the prior-year period.

Table-game sales were just above KRW99.15 billion in the three months to March 31, up 138.6 percent year-on-year; while machine-game sales rose by 77.2 percent, to just under KRW8.40 billion.

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