Grand Korean Leisure sees full year profits drop

Grand Korean Leisure sees full year profits drop

South Korean casino operator reports a 6.9 percent decrease in annual profit in 2019

South Korea.- South Korean casino operator Grand Korea Leisure saw profits tumble 6.9 percent to KRW72.4 billion (€56 million) in 2019.

In a regulatory filing, the company said it posted KRW 96.8 billion (€74.9 million) in operating profit for the year, while annual revenues rose 2.2 percent to KRW490.8 billion (€379 million) .

However, the casino operator said it had a strong fourth-quarter, with net income up 167.5 percent year-on-year, while revenues rose 17 percent. 

Grand Korea Leisure operates the Seven Luck foreigner-only casino in Gangnam Seoul, the Gangbuk Millennium Seoul Hilton and another property in Busan Lotte.

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