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Grand Korea Leisure reports 71.9% increase in casino sales

March 5, 2024 South Korea Casino & Hotel

Grand Korea Leisure Co Ltd (GKL), a South Korean casino operator exclusive to foreigners, announced a 71.9 percent growth in casino revenues in February, reaching KRW33.68 billion (US$25.3 million). This figure did, however, show an 8.4% decline from the same period last year.

February saw sales of table games of over KRW31.19 billion, up 88.9% from the previous month but down 9.1% from the year before. In the meanwhile, sales of machine games came to around KRW2.5 billion, down 19.2 percent from the previous month but up only 1.6 percent from the same period last year.

Grand Korea Leisure’s total casino revenues for the first two months of this year were roughly KRW53.28 billion, according to these figures—a 22.6% decrease from the same period last year.

Grand Korea Leisure operates three casinos in Seoul and Busan under the Seven Luck name specifically for international patrons. The company is a division of the Korea Tourism Organization, which has ties to the Ministry of Culture, Sports, and Tourism in South Korea.

In February, users swapped money for gaming chips, or the “drop” amount, which was around KRW291.61 billion. This indicates a 3.9 percent decrease from the previous month but a noteworthy 39.1 percent growth from February 2023. The total decrease for the months of January and February was KRW594.94 billion, which is a 23.4 percent increase from the previous year.

Regarding the reasons for the noted adjustments in its financial performance, the company remained silent.

Original story by: GGRAsia

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