S. Korea casino op GKL’s July sales leap 278pct y-o-y

Aug 03, 2022 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Casino sales at Grand Korea Leisure Co Ltd (GKL) rose 17.0 percent month-on-month in July, to KRW28.61 billion (US$21.8 million), the firm said in a Wednesday filing to the Korea Exchange.

Judged year-on-year, the improvement was 278.0 percent. Last year, South Korea’s foreign-player-only casino sector was constrained by capacity limits and restrictions for inbound travel. In July 2021, Grand Korea Leisure had for several days to suspend operations at its Seven Luck-branded Gangnam COEX casino (pictured) in Seoul, due to a Covid-19 outbreak.

In the latest reporting month, table-game sales were KRW26.09 billion, up 17.8 percent sequentially, and up 328.5 percent year-on-year.

Machine-game sales were KRW2.52 billion, a rise of 9.6 percent month-on-month, and up 70.3 percent from July 2021.

Cumulative casino sales for the calendar year to July 31 were KRW123.35 billion, an increase of 157.7 percent year-on-year.

Grand Korea Leisure is a subsidiary of the Korea Tourism Organization, which in turn is affiliated to the 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.

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