Grand Korea Leisure casino sales down 19.9% in August

Grand Korea Leisure Co Ltd (GKL) has reported a 19.9 per cent month-on-month decline in casino sales to approximately KRW22.91bn (US$16.7m).

South Korea.- Grand Korea Leisure (GKL) has shared its financial results for August. Casino sales declined 19.9 per cent month-on-month from KRW28.61bn (US$21.8m) to KRW22.91bn (US$16.7m). Year-on-year, sales were up 160.2 per cent.

Table-game sales were KRW20.35bn, down 22 per cent month-on-month but up 182.3 per cent year-on-year. Machine-game sales were just below KRW2.56bn, up 1.5 per cent month-on-month and up 60.4 per cent when compared to last year.

Casino sales for the first eight months of 2022 combined stand at KRW146.25bn, up 158.1 per cent year-on-year.

The South Korean operator of foreigner-only casinos reported a net loss of KRW7.99bn (US$6.09m) and an operating loss of KRW10.71bn for the second quarter of the year. Second-quarter revenue was KRW48.07bn, up 2.6 per cent from the previous quarter.

In the first quarter of the year, the company posted a net loss of KRW10.80bn (US$8.5m) and an operating loss of KRW42.29bn. The casino operator’s accumulated net loss in the first half of this year was KRW18.77bn, down 66.2 per cent from the KRW55.49bn in the first half of 2021.