March sales reached KRW11.7billion (\u20ac8.8million), compared to KRW41.7 billion (\u20ac31.5million) in March 2019.<\/p>\n\n\n\n\n\n\n\n
South Korea.- Grand Korea Leisure<\/strong><\/em> has revealed a sharp 72 per cent year-on-year decline in March sales. <\/p>\n\n\n\n The company operates the three foreigner-only casinos under the Seven Luck brand<\/strong><\/em>, but suspended all operations March 24 following measures mandated by the government in order to contain the spread of the Coronavirus outbreak.<\/p>\n\n\n\n March sales reached KRW11.7billion (\u20ac8.8million), compared to KRW41.7 billion (\u20ac31.5million) in March 2019.<\/p>\n\n\n\n The flagship Seoul Gangnam casino recorded a 74.4 per cent fall in sales while the Seoul Hilton Casino recorded a 64 per cent drop.<\/p>\n\n\n\n Its smallest property, the Busan Lotte Casino, recorded a substantial a 83.7 per cent drop in sales during the period. <\/p>\n\n\n\n All casinos are currently scheduled to remain closed until April 20.<\/p>\n\n\n\n GKL managers told the local media that they are preparing measures to reduce operating losses during the Covid-19 lockdown period.<\/p>\n","protected":false},"excerpt":{"rendered":" March sales reached KRW11.7billion (\u20ac8.8million), compared to KRW41.7 billion (\u20ac31.5million) in March 2019.<\/p>\n","protected":false},"author":2,"featured_media":3156,"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 72% year-on-year decline in March sales, reaching KRW11.7 billion (\u20ac8.8 million), primarily due to the government-mandated suspension of its foreigner-only Seven Luck casinos from March 24th. All three properties, including Seoul Gangnam, Seoul Hilton, and Busan Lotte, experienced substantial revenue drops. GKL management is implementing strategies to mitigate operating losses during the ongoing closure period.","focusai_entities":"Grand Korea Leisure, Seven Luck, Seoul Gangnam casino, Seoul Hilton Casino, Busan Lotte Casino","focusai_location":"South Korea, Seoul, Busan","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"GKL Cash Burn Rate?","query":"What is Grand Korea Leisure's projected cash burn rate during the extended operational suspension period, considering fixed costs and ongoing mitigation efforts?"},{"label":"Regional Peer Performance?","query":"How do GKL's Q1 2020 financial results compare to regional peer performance under similar COVID-19 induced operational restrictions and government mandates?"}],"footnotes":""},"categories":[160,16338,163],"tags":[12436,152],"class_list":["post-5412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","tag-casinos","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5412","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=5412"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5412\/revisions"}],"predecessor-version":[{"id":777014081,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5412\/revisions\/777014081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/3156"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=5412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=5412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=5412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}