Grand Korea Leisure sees 76% annual loss

September saw the largest drop in sales since May.
September saw the largest drop in sales since May.

Its casinos were closed from March to May and saw revenue drop 53 per cent year-on-year for the first nine months of 2020.  

South Korea.- The foreigner-only casino operator Grand Korea Leisure has reported a year-on-year decline in sales of over 76.5 per cent, to KRW9.41 billion (US$8.1 million) for September.

Sales were also 26.2 per cent below August’s results and the lowest since May, when the company’s casinos reopened after the Covid-19 lockdown.  

Table game sales fell by 29.2 per cent month-on-month and 77.5 per cent year-on-year to KRW7.81 billion (US$6.74 million). 

Machine sales dropped 7.1 per cent month-to-month and almost 70 per cent annually, to KRW1.60 billion (US$1.38 million). 

Sales totalled KRW169.43 billion (US$146.43 million) for the first nine months of the current year, down 53 per cent compared to the same period in 2019.  

The firm operates three foreigner-only casinos under the Seven Luck brand, one in Busan and two in Seul. They were closed from March 24 until early May.  

The operator is a subsidiary of the Korea Tourism Organization, which in turn is affiliated to South Korea’s Ministry of Culture, Sports and Tourism. 

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