Grand Korea Leisure casino sales down 4.1% in January
Grand Korea Leisure (GKL) has reported a 4.1 per cent decline in casino sales when compared to December 2021, from KRW10.14bn to KRW9.72bn (US$8.1m).
South Korea.- Grand Korea Leisure (GKL) has shared its financial results for January, posting casino sales of KRW9.72bn (US$8.1m). The figure was down 4.1 per cent when compared to the previous month and a year-on-year comparison couldn’t be done as the casino venues were closed in January 2021 due to Covid-19 countermeasures.
Table game sales were down 7.5 per cent year-on-year to KRW8.13bn while machine game sales were down 18.0 per cent year-on-year to KRW1.58bn. In 2021, the casino operator posted casino sales of KRW89.58bn (US$74.9m).
The figure was down 51.8 per cent when compared to the previous year and although the company didn’t explain the reasons for the decline, casinos were deeply affected by the Covid-19 pandemic and the lack of tourists.
Some casinos in South Korea have been allowed to delay the payment of some Tourism Promotion and Development Fund fees until June 2022 due to the difficulties the industry continues to face due to the Covid-19 pandemic.
