Grand Korea Leisure posts casino sales of US$7.6m in August

Grand Korea Leisure (GKL) has reported KRW8.80bn (US$7.6m) in casino sales for August, up 16.3 per cent when compared to the previous month.

South Korea.- The South Korean operator of foreigner-only casinos Grand Korea Leisure (GKL) has reported that casino sales were up 16.3 per cent when compared to the previous month, from KRW7.57bn (US$6.62m) to KRW8.80bn (US$7.6m).

Despite the rise when compared to July, sales were down 31 per cent year-on-year from KRW12.76bn.

Table games reached KRW7.2bn, up 18.4 per cent from July and down 34.7 per cent year-on-year. Machine game sales were up 7.8 per cent month-on-month to KRW1.60bn (down 7.3 per cent year-on-year).

Grand Korea Leisure has registered KRW56.66bn in casino sales for the first eight months of the year, down 64.6 per cent year-on-year. Table games aggregate sales reached KRW47.51bn between January and August, down 66.3 per cent. Machine game sales were KRW9.16bn, down 52.2 per cent.

GKL posts net loss of US$15.5m for second quarter

GKL reported a net loss of KRW18.06bn (US$15.5m) for the second quarter, a reduction from a net loss of about KRW37.43bn in the first quarter. The casino operator saw a growth in sales to KRW32.98bn, up 41.8 per cent from 2020 and up 525.8 per cent quarter-on-quarter.

GKL’s operating loss for the first quarter was nearly KRW25.90bn, which compares KRW32.10bn last year.

Kim Young-San appointed as GKL CEO

GKL has announced the appointment of Kim Young-San as CEO and chairman of the board. Kim Young-San, who has served as vice-chairman of the Korea Casino Association since 2019, will replace Yoo Tae-Yeol for a three-year term.

The new CEO was director of the Culture and Arts Policy Office and of the Planning and Coordination Office from 2016 to 2019. He was appointed after recommendations from the Minister of Culture, Sports and Tourism.