GKL to relocate to Seoul Dragon City on December 31
Grand Korea Leisure has announced it will relocate one of its casinos from Millennium Hilton Seoul hotel to Seoul Dragon City.
South Korea.- Grand Korea Leisure Co Ltd (GKL) has announced that it will relocate one of its two casinos from the Millennium Hilton Seoul hotel to Seoul Dragon City. It said gaming at the Seven Luck-branded Gangbuk casino at the Hilton will end at 10.00 pm on December 30 and begin at the new venue at 6am on December 31.
From January 1, reservations for the venue will no longer be available through the Hilton-branded reservation system. Grand Korea Leisure announced the move in December 2021 – the lease for the Millennium Hilton Seoul expires on December 31 this year.
Its lease at Seoul Dragon City was to run from August 16 this year until August 15, 2032. The company didn’t disclose the reasons for the delay in the relocation.
GKL has recently reported revenue of KRW28.19bn (US$21.66m) for November. That represents an increase of 589 per cent year-on-year. Table-game sales were KRW25.58bn (US$19.66m), up 944 per cent year-on-year. Machine-game sales were up 59.2 per cent year-on-year to KRW2.61bn (US$2m). Casino revenue for the year to November was KRW234.62bn (US$180.37m), up 195.3 per cent year-on-year.
For the first 11 months of the year, table revenue was up 221 per cent to KRW210.54bn (US$161.86m), while machine revenue topped KRW24.07bn (US$18.5m), up 73 per cent. GKL reported a net profit of KRW4.97bn (US$3.62m) for the third quarter of the year, compared to a net loss of KRW7.99bn in the previous quarter.
