GKL posts 30.5% rise in Q2 profit, renews COEX lease
First-half operating income rose 7.9 per cent to US$27.5m despite net income remaining almost unchanged from 2025.
South Korea.- Grand Korea Leisure (GKL) has reported a 30.5 per cent year-on-year increase in second-quarter operating income to KRW20.84bn (US$14.7m). In a fair-disclosure filing submitted to the Korea Exchange, the South Korean foreigner-only casino operator said revenue for the April-June period reached KRW120.45bn (US$85m), 19.3 per cent higher than a year earlier and 8.9 per cent above the previous quarter.
Net income attributable to shareholders of the parent company increased 6.2 per cent year-on-year to KRW18.02bn (US$12.7m), while pretax income from continuing operations rose 4.3 per cent to KRW23.16bn (US$16.3m). GKL’s casino drop for the quarter amounted to KRW1.05tn (US$740.6m), representing a 15.1 per cent increase from the corresponding period in 2025 and a 13.1 per cent rise from the first quarter.
For the first half of the year, revenue reached KRW231.10bn (US$163.0m), up 9.6 per cent year-on-year, while operating income increased 7.9 per cent to KRW38.98bn (US$27.5m). Net income was KRW33.11bn (US$23.4m), virtually unchanged from the KRW33.06bn (US$23.3m) reported a year earlier.
In a separate filing, GKL disclosed a KRW168.80bn (US$119.1m) investment to extend its lease at Gangnam COEX in Seoul through October 4, 2035. The amount represents total lease payments over the contract period, excluding VAT, management fees and taxes. Rent will be subject to adjustments under the agreement, with the first revision scheduled for October 1, 2026, based on changes in South Korea’s consumer price index
GKL runs three foreigner-only casinos under its Seven Luck brand, with two located in Seoul and the third in Busan.
