GKL casino sales drop 62% in 2020

Grand Korea Leisure operates three foreigner-only casinos in South Korea under the Seven Luck brand.
Grand Korea Leisure operates three foreigner-only casinos in South Korea under the Seven Luck brand.

The operator of foreigner-only casinos reported a loss of KRW64.33bn (US$57.6m), compared to profit of nearly KRW72.40bn in 2019

South Korea.- Grand Korea Leisure (GKL) saw casino sales fall by 62.4 per cent year-on-year to KRW184.46bn in 2020.

For the full year, the operator of foreigner-only casinos reported a loss of KRW64.33bn (US$57.6m), compared to profit of nearly KRW72.40bn in 2019

For the final quarter, the company reported a loss of KRW32.7bn (US$29.3m) compared to a profit of KRW18.31bn in the same period in 2019.

Sales for the last quarter of 2020 also decreased by 88.6 per cent year-on-year and 57 per cent compared to the third quarter of 2020.

Grand Korea Leisure’s Gangnam COEX gaming venue and Gangbuk Hilton in Seoul have been temporarily closed since November 24. On February 1, GKL extended the closure of the sites to February 15.

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