{"id":14411,"date":"2021-02-09T17:28:08","date_gmt":"2021-02-09T17:28:08","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=14411"},"modified":"2026-04-23T21:58:01","modified_gmt":"2026-04-24T00:58:01","slug":"gkl-casino-sales-drop-62-in-2020","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/gkl-casino-sales-drop-62-in-2020","title":{"rendered":"GKL casino sales drop 62% in 2020"},"content":{"rendered":"\n<p>The operator of foreigner-only casinos reported a loss of KRW64.33bn (US$57.6m), compared to profit of nearly KRW72.40bn in 2019<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>South Korea.-\u00a0Grand Korea Leisure (GKL) saw <strong>casino sales\u00a0fall by\u00a062.4 per cent year-on-year to KRW184.46<\/strong>bn <strong>in 2020<\/strong>.<\/p>\n\n\n\n<p>For the full year, the operator of foreigner-only casinos reported a<strong> loss of KRW64.33bn (US$57.6m)<\/strong>, compared to profit of nearly KRW72.40bn in 2019<\/p>\n\n\n\n<p>For the final quarter, <strong>the company reported a loss of KRW32.7bn  (US$29.3m)<\/strong> compared to a profit of KRW18.31bn in the same period in 2019.<\/p>\n\n\n\n<p>Sales for the last quarter of 2020 also <strong>decreased by 88.6 per cent year-on-year and 57 per cent compared to the third quarter<\/strong> of 2020.<\/p>\n\n\n\n<p>Grand Korea Leisure\u2019s Gangnam COEX gaming venue and Gangbuk Hilton in Seoul have been<strong> temporarily closed since November 24<\/strong>. On February 1, GKL <strong><em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/casinos-in-south-korea-extend-covid-19-closures\" target=\"_blank\">extended the closure of the sites to February 15<\/a><\/em>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The operator of foreigner-only casinos reported a loss of KRW64.33bn (US$57.6m), compared to profit of nearly KRW72.40bn in 2019<\/p>\n","protected":false},"author":176,"featured_media":14417,"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 (GKL), a South Korean operator of foreigner-only casinos, reported a net loss of KRW64.33bn (US$57.6m) in 2020, a significant reversal from the previous year's profit, driven by a 62.4% decline in casino sales. This downturn is primarily attributed to the extended temporary closures of its Gangnam COEX and Gangbuk Hilton venues in Seoul, impacting Q4 2020 results significantly.","focusai_entities":"Grand Korea Leisure, GKL","focusai_location":"South Korea, Seoul","focusai_target_profile":"ceo_executive (1.0), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GKL Recovery Outlook?","query":"What is Grand Korea Leisure's projected timeline for operational recovery and return to profitability, considering ongoing travel restrictions and the specific market dynamics of foreigner-only casinos in South Korea?"},{"label":"Market Impact Analysis?","query":"How do GKL's reported losses and operational challenges impact the broader South Korean integrated resort and gaming market, particularly for other operators targeting international clientele?"}],"footnotes":""},"categories":[16338,163],"tags":[29,17025],"class_list":["post-14411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-casino","tag-grand-korea-leisure"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14411","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=14411"}],"version-history":[{"count":9,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14411\/revisions"}],"predecessor-version":[{"id":14475,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14411\/revisions\/14475"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/14417"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=14411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=14411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=14411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}