Grand Korea Leisure (GKL) has reported a 51.8 per cent decline in casino sales year-on-year, from KRW186.02bn to KRW89.58bn.
South Korea.- The South Korean operator of foreigner-only casinos Grand Korea Leisure (GKL) has shared its financial results for the year 2021 during which it 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.
Table game sales were down 54.1 per cent year-on-year to KRW74.43bn while machine game sales were down 36.8 per cent year-on-year to KRW15.24bn.
However, when compared to the previous month, GKL casino sales were up 147.7 per cent from KRW4.1bn (US$3.5m) to KRW10.14bn.
As regards to GKL table sales for December, the figure was up 258.9 per cent from KRW7.67bn to KRW8.79bn while machine game sales declined 18.3 per cent from KRW1.60bn to KRW1.34bn.
It’s previously been reported that 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.