Kim Young-San has been appointed as CEO to replace Yoo Tae-Yeol, who took up the position in 2018.
South Korea.- The South Korean operator of foreigner-only casinos Grand Korea Leisure (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.
GKL reports net loss of US$15.5m for the second 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.
Last week, the company reported that casino sales declined by 48.5 per cent month-on-month in July to KRW7.57bn (US$6.62m).
In the first seven months of the current year, Grand Korea Leisure registered casino sales of KRW47.86bn, down 67.5 per cent year-on-year. Table games aggregate sales reached KRW40.30bn between January and July, down 69 per cent. Machine game sales were KRW7.56bn, down 56.7 per cent.