The South Korean operator of foreigner-only casinos saw a 49.9 per cent improvement in sales in the third quarter.<\/p>\n\n\n\n\n\n\n\n
South\u00a0Korea.-\u00a0Grand Korea Leisure has reported a\u00a0KRW22.78bn (US$20.5m) loss for the third quarter of 2020.\u00a0<\/p>\n\n\n\n
The company had reported a net loss of KRW23.56 billion in the second quarter of the year.\u00a0\u00a0<\/p>\n\n\n\n
In the three months ending September 30, casino sales improved\u00a049.4 per cent compared to the previous quarter, reaching KRW34.76bn (US$31.1m). However, sales remained down by 73.9 per cent year-on-year.\u00a0\u00a0\u00a0<\/p>\n\n\n\n
In Q2, the company\u2019s financial results were affected by the closure of its venues in Seoul and Busan for 43 days due to Covid-19 restrictions.\u00a0\u00a0<\/p>\n\n\n\n
In the first nine months of 2020, Grand Korea Leisure accumulated a loss of\u00a0KRW31.62bn (US$28.3m), with casino sales down 52.9 per cent to KRW169.58bn.<\/p>\n","protected":false},"excerpt":{"rendered":"
The South Korean operator of foreigner-only casinos saw a 49.9 per cent improvement in sales in the third quarter.<\/p>\n","protected":false},"author":2,"featured_media":11622,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Grand Korea Leisure, a prominent South Korean foreigner-only casino operator, reported a Q3 2020 net loss of KRW22.78bn, despite a 49.9% sequential improvement in casino sales to KRW34.76bn. This quarter-on-quarter growth was insufficient to offset a 73.9% year-on-year sales decline, culminating in a KRW31.62bn accumulated loss for the first nine months, primarily attributable to COVID-19 induced operational disruptions.","focusai_entities":"Grand Korea Leisure","focusai_location":"South Korea, Seoul, Busan","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), operator_casino (0.95), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GKL Recovery Strategy","query":"What specific operational adjustments and market diversification strategies is Grand Korea Leisure implementing to accelerate GGR recovery and mitigate future exogenous shocks?"},{"label":"Capital Structure Impact","query":"How do these sustained losses impact Grand Korea Leisure's capital structure, liquidity position, and potential for future capital expenditure or M&A activities?"}],"footnotes":""},"categories":[16338,163],"tags":[17025,152],"class_list":["post-11620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-grand-korea-leisure","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11620"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11620\/revisions"}],"predecessor-version":[{"id":11637,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11620\/revisions\/11637"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11622"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}