Grand Korea Leisure posts sales of US$13.1m in June

GKL's sales for the first five months of the year were down by 78.9 per cent.
GKL's sales for the first five months of the year were down by 78.9 per cent.

Grand Korea Leisure (GKL) has reported KRW14.82bn (US$13.1m) in sales for June.

South Korea.- The South Korean operator of foreigner-only casinos Grand Korea Leisure (GKL) has reported that casino sales in June rose by 45.6 per cent when compared to the previous month, up from US$9.2m to US$13.1m.

Sales were up 18.7 per cent when compared to 2020. Table games sales reached KRW13.28bn, up 60.6 per cent when compared to May and 27 per cent when compared to last year. Machine game sales were weak during June with a decline of 19.3 per cent month-on-month and 24 per cent year-on-year.

For the first half of the year, GKL reported casino sales of KRW40.29m, down 69.7 per cent when compared to 2020.

Table games aggregate sales during the same period were down 71 per cent year-on-year to KKRW34.21bn. Machine game sales reached KRW6.08bn, down 59.3 per cent.

The casino operator suspended all activities in November 2020 due to the Covid-19 pandemic. Seven Luck Casino Busan Lotte in Busan reopened in February, while the operator’s Seoul venues reopened in March.

In May, it was announced that The Millenium Hilton Seoul Hotel, which hosted Grand Korea Leisure’s Seven Luck casino, would be demolished following its sale. The venue was sold to Aegis Asset Management, a domestic real estate fund manager, due to the impact of the Covid-19 pandemic on tourism.

Aegis plans to build an office building on the site, but it has not yet revealed more details. It is still unknown if the casino will be relocated.

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GKL Grand Korea Leisure land-based casino