Revenue was up 2.6 per cent to KRW48.07bn for the second quarter of the year.<\/p>\n\n\n\n\n\n\n\n
South Korea.- The South Korean operator of foreigner-only casinos\u00a0Grand Korea Leisure (GKL)\u00a0<\/strong>has shared its financial results for the second quarter of the year. It’s reported a net loss of KRW7.99bn (US$6.09m) and an operating loss of KRW10.71bn.<\/p>\n\n\n\n In the first quarter of the year<\/a>, the company had posted a net loss of KRW10.80bn (US$8.5m) and an operating loss of KRW42.29bn.\u00a0The casino operator’s accumulated net loss in the first half of this year was KRW18.77bn, down 66.2 per cent from the KRW55.49bn in the first half of 2021.<\/p>\n\n\n\n The company reported second-quarter revenue of KRW48.07bn, up 2.6 per cent from the previous quarter.<\/p>\n\n\n\n In July,\u00a0the casino operator sales<\/a>\u00a0increased 17 per cent month-on-month from KRW24.45bn to KRW28.61bn (US$21.8m). Year-on-year, sales were up 278 per cent. Casino sales for the\u00a0first seven months of 2022\u00a0<\/strong>combined stand at KRW123.35bn, up 157.7 per cent when compared to last year.<\/p>\n\n\n\n In 2021, Grand Korea Leisure<\/a> reported a net loss of KRW113.27bn (US$94.7m)<\/a> and an operating loss of KRW145.83bn<\/strong>, compared with KRW88.81bn the previous year.<\/p>\n","protected":false},"excerpt":{"rendered":" Revenue was up 2.6 per cent to KRW48.07bn for the second quarter of the year.<\/p>\n","protected":false},"author":176,"featured_media":17657,"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 foreigner-only casino operator, reported a Q2 net loss of KRW7.99bn and an operating loss of KRW10.71bn, despite a 2.6% sequential revenue increase to KRW48.07bn. Notably, the company's accumulated net loss for H1 2022 significantly narrowed by 66.2% year-on-year, indicating a potential recovery trajectory.","focusai_entities":"Grand Korea Leisure, GKL","focusai_location":"South Korea","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.8)","focusai_suggestions":[{"label":"H1 Loss Reduction Drivers","query":"What specific operational efficiencies, cost containment measures, or shifts in player visitation patterns contributed to the substantial 66.2% reduction in GKL's H1 net loss, despite ongoing Q2 operating losses?"},{"label":"Market Recovery Outlook","query":"How do GKL's sequential and year-on-year revenue growth rates for its foreigner-only casinos align with broader South Korean inbound tourism recovery, and what is the projected GGR trajectory for the remainder of FY2022?"}],"footnotes":""},"categories":[16338,163],"tags":[492,17025],"class_list":["post-32539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-gkl","tag-grand-korea-leisure"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32539","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=32539"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32539\/revisions"}],"predecessor-version":[{"id":32576,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32539\/revisions\/32576"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17657"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=32539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=32539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=32539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}