Gambling in South Korea: GKL casino sales down 16.9% in September

Grand Korea Leisure has posted casino sales of KRW34.3bn (US$25.7m).

South Korea.- Grand Korea Leisure (GKL) has shared its financial results for the month of September. The company posted casino sales of KRW34.3bn (US$25.7m), down 16.9 per cent sequentially but up 3 per cent in year-on-year terms.

Table-game revenue was KRW31.6bn (US$23.7m), down 17.1 per cent sequentially but up 4.91 per cent year-on-year. Machine game sales were KRW2.7bn (US$2m), down 14.6 per cent month-on-month but up 18.52 per cent. The table drop decreased 16.1 per cent monthly and 10.5 per cent in year-on-year terms to KRW277.7bn (US$208.2m).

For the first nine months of the year, Grand Korea Leisure has reported casino sales of KRW287.4bn (US$215.5m), down 6 per cent compared to the same period last year. The cumulative drop amount was up 13.5 per cent to KRW2.76bn (US$2m).

GKL operates three foreigner-only casinos under the Seven Luck brand. Two are situated in the capital, Seoul (including one in Gangnam), and the other in the southeastern port city of Busan. The company operates as a subsidiary of the Korea Tourism Organization, which is affiliated with the Ministry of Culture, Sports, and Tourism.