Grand Korea Leisure posts casino sales of US$21.49m for October
Grand Korea Leisure Co’s casino sales were down 14 per cent month-on-month.
South Korea.- Grand Korea Leisure (GKL) has shared its financial results for the month of October. The company posted casino sales of KRW28.64bn (US$21.49m). That’s a 14 per cent decrease compared to the previous month and down 17.7 per cent year-on-year.
This decline was primarily due to reduced table revenue, which stood at KRW25.53bn (US$19.16m), reflecting a 21 per cent decrease compared to last year and a 15.2 per cent decrease on a monthly basis. Machine game sales reached KRW3.11bn (US$2.33m), down 2.7 per cent month-on-month but up 24.3 per cent from last year.
The overall table drop fell 19 per cent year-on-year to KRW310.84bn (US$233.3m), a slight 0.2 per cent monthly uptick. For the first ten months of the year, Grand Korea Leisure has reported casino sales of KRW334.51bn (US$251.07m), a rise of 62.1 per cent compared to the same period last year.
Table revenue witnessed a 64 per cent annual increase, reaching KRW 303.4bn (US$227.67m), while gaming machines generated a 44.9 per cent growth, reaching KRW31.11bn (US$23.34m). The table drop for the ten-month period was up 85.6 per cent at KRW2.75tn (US$2.06bn).
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.
