• 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

South Korea casino op GKL has US$20mln net loss 3Q

Nov 09, 2021 Newsdesk Latest News, Rest of Asia, Top of the deck  


South Korea casino op GKL has US$20mln net loss 3Q

Grand Korea Leisure Ltd (GKL), a South Korean operator of foreigner-only casinos, reported a quarterly net loss that widened to KRW23.41 billion (US$19.9 million) in the three months to September 30, relative to the KRW18.06-billion loss recorded in the second quarter.

The company had reported a net loss of about KRW22.78 billion in the third quarter of 2020.

Third-quarter sales at GKL declined 23.4 percent sequentially, to KRW25.26 billion, from KRW32.98 billion in the second quarter. The latest reporting period saw sales fall 27.3 percent year-on-year from the KRW34.76 billion in the third quarter, 2020.

The company reported an operating loss of approximately KRW31.00 billion for the three months to September 30 this year, compared to an operating loss of KRW25.90 billion in the second quarter.

The third-quarter operating loss for the third quarter 2020 had been KRW30.96 billion.

GKL is a subsidiary of the Korea Tourism Organization, which in turn is affiliated to South Korea’s Ministry of Culture, Sports and Tourism. 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 (pictured).

In the first nine months of 2021, Grand Korea Leisure’s casino sales were just under KRW63.51 billion, a dip of 62.5 percent from the aggregate KRW169.53 billion a year earlier.

The company reported aggregate sales of KRW63.51 billion in the January to September period, down 62.5 percent from a year earlier. Net loss for the nine months to September 30 was KRW78.90 billion, compared with KRW31.62 billion in the first nine months of 2020.


  • tweet
Related articles
  • S.Korea Daegu Casino fined US$776k for AML breaches 
    S.Korea Daegu Casino fined US$776k...

    Sep 29, 2023  

  • Construction of RFKR Resort in South Korea still paused
    Construction of RFKR Resort in South...

    Sep 28, 2023  

More news
  • Sands China to revitalise firecracker factory, old streets
    Sands China to revitalise firecracker...

    Sep 29, 2023  

  • Bloomberry aims to raise up to US$99mln via share sale
    Bloomberry aims to raise up to US$99mln...

    Sep 29, 2023  


Latest News

Sands China to revitalise firecracker factory, old streets

Sands China to revitalise firecracker factory, old streets

Sep 29, 2023  

Macau casino operator Sands China Ltd is to add more cultural and tourism elements to the site of the old Iec Long Firecracker Factory and its surrounding areas in Taipa, as part of a government-led...
Read More
Bloomberry aims to raise up to US$99mln via share sale

Bloomberry aims to raise up to US$99mln via share sale

Sep 29, 2023  

S.Korea Daegu Casino fined US$776k for AML breaches 

S.Korea Daegu Casino fined US$776k for AML breaches 

Sep 29, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The Philippines has been the primary growth driver, but really the broader Asian gaming industry is something that’s really important to us”

Matt Wilson

Chief executive of casino equipment provider Light & Wonder



Most Popular

  • International Ent to invest at least US$1bln in Manila IRInternational Ent to invest at least US$1bln in Manila IR September 28, 2023
  • Resorts World Sentosa fined again for AML rule breachesResorts World Sentosa fined again for AML rule breaches September 27, 2023
  • Galaxy Ent to build ice rink, bookshop at Macau old shipyardsGalaxy Ent to build ice rink, bookshop at Macau old… September 28, 2023
  • Events a boon, Citi ups Macau 4Q GGR forecast to US$6.5blnEvents a boon, Citi ups Macau 4Q GGR forecast to US$6.5bln September 27, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us