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Grand Korea Casino Sales Rose Over the Previous Year

January 5, 2023 Casino & HotelEarnings & Filings

Grand Korea Leisure Co Ltd, a South Korean operator in charge of casinos open only to visitors from other countries, had a very prosperous previous year.

The significant growth
Casino sales have dramatically grown for 2022, increasing 196.0 percent compared to last year. The transactions totaled around KRW265.17 billion ($208.4 million), or KRW. This was declared at the filing to the Korea Exchange on Tuesday.

If we compare the numbers from the last year to those from 2021, sales of table games increased by 221.4%. The total amount earned was over KRW238.91 billion. Sales of video games on machines also went up, by a whopping 72.3 percent. It was just about KRW26.26 billion in earned income.

Customers have been spending more money on chips than normal, which has caused a reduction in table spending over the past year. It increased by 163.6 percent year over year, and around KRW1.99 trillion was made.

The results for December were a wonderful surprise:
The annual numbers for the entire year were computed after the data for December had been gathered. The data collected in December was the largest surprise once the results were computed; the December casino sales were about KRW30.55 billion, which was 8.3% more than in November and even 201.4% greater than the previous year.

This December’s sales increased 10.9 percent as compared to the same period last year, or roughly KRW28.37 billion.

Gain from year to year was enormous: 222.6 percent.

Sales of machine games were KRW2.18 billion in the final month of the year, representing a 16.6% sequential increase, but a rise of 62.5 percent when compared to the prior year.

One of the divisions of the Korea Tourism Organization, a partner of the Ministry of Culture, Sports, and Tourism, is Grand Korea Leisure. The corporation only allows foreigners to play at its casinos. Three of these are Seven Luck-branded casinos, two of which are in Seoul, South Korea’s capital, one of which is the well-known Gangnam, and one of which is in Busan, a port city in the southeast of the nation.

One of the casinos, which was housed in the Millennium Hilton Hotel in Seoul Gangbuk, was shut down on December 30. When Seoul Dragon City opened on December 31, the gambling operation was moved there.

The reduction in the size of Grand Korea Leisure’s marketing team from China is one of the company’s significant news items. In addition, the company’s liaison offices in Japan have lost one-third of their staff.

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