{"id":17758,"date":"2021-05-11T15:04:57","date_gmt":"2021-05-11T15:04:57","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=17758"},"modified":"2026-04-23T19:40:41","modified_gmt":"2026-04-23T22:40:41","slug":"gkl-casino-posts-losses-of-us33-4m-for-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/gkl-casino-posts-losses-of-us33-4m-for-q1","title":{"rendered":"GKL casino posts losses of US$33.4m for Q1"},"content":{"rendered":"\n<p>Grand Korea Leisure (GKL) has reported a net loss of KRW37.43bn (US$33.4m) for the first quarter of 2021.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>South Korea.- The South Korean operator of foreigner-only casinos <strong>Grand Korea Leisure <\/strong>(<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/gkl-casino-sales-for-april-up-48-month-on-month\">GKL<\/a>) has reported<strong> a net loss for the first quarter of KRW37.43bn (US$33.4m)<\/strong>. That compares to a net loss in the fourth quarter of 2020 of KRW32.71bn.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/gkl-casino-revenue-rises-ten-fold-following-reopenings\">GKL<\/a>\u00a0<strong>reported that sales in the first quarter dropped by 95.3 per cent<\/strong> year-on-year and 64.7 per cent from the previous quarter.<\/p>\n\n\n\n<p><strong>It reported an operating loss of KRW46.64bn<\/strong> compared to operating profit of KRW26.92bn in the same quarter last year.<\/p>\n\n\n\n<p>The casino operator <strong>suspended all of activities in November 2020 <\/strong>due to the Covid-19 pandemic. Seven Luck Casino Busan Lotte in Busan reopened in February, while the operator&#8217;s <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/grand-korea-leisure-reopens-seoul-casinos\">Seoul venues reopened<\/a> in March. <\/p>\n\n\n\n<p>In 2020,\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/south-korean-casinos-visits-down-71-3-in-2020\">South Korean casinos<\/a>\u00a0received <strong>only 1,760,232 visits<\/strong>, down from 6,128,952 in 2019. Gambling cash turnover was\u00a0<strong>down 64.5 per cent<\/strong>\u00a0when compared to the previous year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Grand Korea Leisure (GKL) has reported a net loss of KRW37.43bn (US$33.4m) for the first quarter of 2021.<\/p>\n","protected":false},"author":176,"featured_media":16937,"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) reported a net loss of KRW37.43bn (US$33.4m) for Q1 2021, an increase from the previous quarter's loss. Sales plummeted by 95.3% year-on-year due to operational suspensions caused by the Covid-19 pandemic, with venues only partially reopening in February and March.","focusai_entities":"Grand Korea Leisure, GKL, Seven Luck Casino Busan Lotte","focusai_location":"South Korea, Busan, Seoul","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GKL Profitability Timeline?","query":"What is GKL's projected timeline for achieving operational profitability given current visitation trends and potential easing of international travel restrictions?"},{"label":"Regional Operator Comparison?","query":"How do GKL's Q1 2021 results compare to other regional foreigner-only casino operators, and what are the implications for sector-wide recovery forecasts?"}],"footnotes":""},"categories":[161,16338,163],"tags":[492,17025,23907],"class_list":["post-17758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news","category-east-asia-news","category-finance-news","tag-gkl","tag-grand-korea-leisure","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17758","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=17758"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17758\/revisions"}],"predecessor-version":[{"id":17792,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17758\/revisions\/17792"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16937"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=17758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=17758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=17758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}