{"id":27196,"date":"2022-02-11T08:56:49","date_gmt":"2022-02-11T11:56:49","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=27196"},"modified":"2026-04-23T11:23:50","modified_gmt":"2026-04-23T14:23:50","slug":"grand-korea-leisure-posts-net-loss-of-us94-7m-for-2021","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/grand-korea-leisure-posts-net-loss-of-us94-7m-for-2021","title":{"rendered":"Grand Korea Leisure posts net loss of US$94.7m for 2021"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Grand Korea Leisure has reported a net loss of KRW113.27bn (US$94.7m), up 76.1 per cent when compared to the KRW64.3bn loss registered in 2020.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">South Korea.-\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/grand-korea-leisure-casino-sales-down-4-1-in-january\" target=\"_blank\">Grand Korea Leisure (GKL)<\/a>\u00a0has shared its financial results for the year 2021. It reported a net loss of KRW113.27bn (US$94.7m) and an\u00a0<strong>operating loss of KRW145.83bn in 2021<\/strong>, compared with KRW88.81bn the previous year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Grand Korea Leisure&#8217;s sales in 2021 were<strong> down 53.9 per cent<\/strong>\u00a0year-on-year to KRW85.1bn. The company cited the extended closure of its casinos and the absence of tourists as the main factors behind its\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/south-korea-casinos-report-revenue-of-us975-39m-for-2021\" target=\"_blank\">decline in sales last year<\/a>. The company noted that operations at three Seven Luck casinos were temporarily suspended in 2021 due to the ongoing Covid-19 pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">GKL said its fourth-quarter net loss was nearly KRW34.38bn, compared with KRW23.41bn in the previous quarter and KRW32.71bn a year earlier. The company&#8217;s fourth-quarter sales were KRW21.58bn, an increase of 44.5 per cent year-on-year. On a sequential basis, sales fell 14.6 per cent in the fourth quarter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"grand-korea-leisure-casino-sales-down-4-1-in-january\">Grand Korea Leisure casino sales down 4.1% in January<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">GKL reported casino sales of KRW9.72bn (US$8.1m) in January. The figure was down 4.1 per cent when compared to the previous month and a year-on-year comparison couldn\u2019t be done as the casino venues were closed in January 2021 due to Covid-19 countermeasures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Table game sales&nbsp;<\/strong>were down 7.5 per cent year-on-year to KRW8.13bn while&nbsp;<strong>machine game sales were down 18.0 per cent<\/strong>&nbsp;year-on-year to KRW1.58bn. In 2021, the casino operator posted&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/grand-korea-leisure-casino-sales-down-51-8-in-2021\" rel=\"noreferrer noopener\">casino sales of KRW89.58bn (US$74.9m)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Grand Korea Leisure has reported a net loss of KRW113.27bn (US$94.7m), up 76.1 per cent when compared to the KRW64.3bn loss registered in 2020.<\/p>\n","protected":false},"author":176,"featured_media":0,"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 KRW113.27bn (US$94.7m) in 2021, a 76.1% increase from 2020, alongside a 53.9% year-on-year sales decline to KRW85.1bn. These significant losses are attributed to extended casino closures and the absence of international tourists due to the ongoing Covid-19 pandemic, impacting its three Seven Luck casinos.","focusai_entities":"Grand Korea Leisure, GKL, Seven Luck","focusai_location":"South Korea","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 Recovery Strategy","query":"What specific operational adjustments and market diversification strategies is Grand Korea Leisure implementing to mitigate ongoing tourism dependency and accelerate revenue recovery in 2022?"},{"label":"Capital Structure Impact","query":"How do these sustained losses impact Grand Korea Leisure's capital structure, liquidity, and potential for future capital expenditure or debt financing?"}],"footnotes":""},"categories":[157,16338],"tags":[492,17025,23907],"class_list":["post-27196","post","type-post","status-publish","format-standard","hentry","category-business-news","category-east-asia-news","tag-gkl","tag-grand-korea-leisure","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27196","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=27196"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27196\/revisions"}],"predecessor-version":[{"id":27222,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27196\/revisions\/27222"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}