Grand Korea Leisure posts casino sales of US$14.07m for July

Sales were down 48.1 per cent month-on-month.

South Korea.- Grand Korea Leisure (GKL) has shared its financial results for the month of July. The company posted casino sales of KRW19.22bn (US$14.07m). That’s a 48.1 per cent decrease compared to the previous month and down 38.2 per cent year-on-year.

Table-game revenue was KRW16.56bn (US$12.12bn), down 51.6 per cent sequentially and down 40.4 per cent when compared to the previous year. Machine game sales were KRW2.66bn (US$1.95bn), down 4.3 per cent when compared to June and down 20 per cent year-on-year.

The overall table drop grew 23.4 per cent year-on-year and 2.6 per cent monthly to KRW303.87bn (US$222.3m). For the first seven months of the year, Grand Korea Leisure reported casino sales of KRW211.79bn (US$154.96m), down 11.4 per cent compared to the same period last year. 

Table revenue witnessed an 11.8 per cent annual decrease, reaching KRW191.85bn (US$140.37m), while gaming machines generated a 7.6 per cent decline, reaching KRW19.94bn (US$14.59m). The table drop for the first seven months was up 17.7 per cent at KRW2.16tn (US$1.58bn).

GKL operates three foreigner-only casinos under the Seven Luck brand. Two are situated in the capital, Seoul (including one in Gangnam), and the other in the southeastern port city of Busan. The company operates as a subsidiary of the Korea Tourism Organization, which is affiliated with the Ministry of Culture, Sports, and Tourism.

See also: GKL eyes overseas expansion amid growing regional competition