GGRAsia – S.Korea’s GKL posts 85-pct increase in profit for 4Q

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()

S.Korea’s GKL posts 85-pct increase in profit for 4Q

Feb 09, 2017 Newsdesk Latest News, Rest of Asia, Top of the deck

S.Korea’s GKL posts 85-pct increase in profit for 4Q

South Korean casino operator Grand Korea Leisure Co Ltd (GKL) reported an 85 percent year-on-year increase in net income for the fourth quarter of 2016, to KRW34.15 billion (US$29.8 million). Revenue for the period was up 20.5 percent year-on-year to KRW148.62 billion, the firm said in a filing to the Korea Exchange on Thursday.

GKL operates three foreigner-only casinos – two in the capital Seoul and one in the southern port city of Busan – under the Seven Luck brand.

The company reported operating income of KRW43.13 billion for the three months to December 31, nearly double compared to KRW21.68 billion in the fourth quarter of 2015.

For full-year 2016, the casino operator reported revenue of KRW548.23 billion, an increase of 8.4 percent from the previous year. Operating profit for the year rose by 27.7 percent year-on-year to KRW151.18 billion.

The casino firm reported a net profit of KRW114.34 billion for last year, up by 24.6 percent from 2015.

GKL announced a dividend of KRW870 per share for 2016, amounting to a payout of KRW53.81 billion.

Related articles

Jeju might bar casino licence...
Sep 14, 2018
S. Korea’s GKL August casino...
Sep 13, 2018

More news

MGS show promoters flag change to...
Sep 24, 2018
Visitor arrivals to Macau up by nearly...
Sep 24, 2018

Still time for my son to help family: Kazuo Okada
Aug 20, 2018

A key to entrepreneur Kazuo Okada reasserting control over...
Universal Ent cannot survive without my vision: Okada
Aug 17, 2018

Entrepreneur Kazuo Okada (pictured) has told GGRAsia that...
Widus CEO looks to IPO, fresh expansion in the Philippines
Jul 06, 2018

The operator of the Widus Hotel and Casino at Clark...
Cambodia ripe for global casino brand: GMA’s Klebanow
Jun 11, 2018

Cambodia has some attributes that make it potentially...
IGT gaining traction in Asia Pacific: Walter Bugno
Jun 06, 2018

Global gaming supplier International Game Technology Plc...

MGS show promoters flag change to branding in Chinese

MGS show promoters flag change to branding in Chinese

Sep 24, 2018

The Macau-produced casino industry trade exhibition and conference known as MGS Entertainment Show, has adopted a new name in Chinese for this year’s edition. In that language it is being...

Visitor arrivals to Macau up by nearly 19 pct in Aug

Visitor arrivals to Macau up by nearly 19 pct in Aug

Sep 24, 2018

Ainsworth’s Gladstone to quit as CEO, staying with firm

Ainsworth’s Gladstone to quit as CEO, staying with...

Sep 24, 2018

Paradise Ent signs off US$16mln Macau warehouse buy

Paradise Ent signs off US$16mln Macau warehouse buy

Sep 24, 2018