GKL casino sales drop 87% in November

The three Seven Luck casinos remain shut due to a spike in Covid-19 cases in South Korea.

South Korea.- Grand Korea Leisure’s (GKL) casino sales were down by 87.8 per cent year-on-year in November.

Sales reached KRW5.49bn (US$5m), which was half of the revenue seen in October. The decline was due to the tightening of Covid-19 restrictions in the second half of November that saw its two casinos in Seoul close again.

Table game sales reached KRW4.09bn, down 55.4 per cent against October and 89.9 per cent year-on-year. Machine game sales hit KRW1.40bn, 28.3 per cent below October’s and 70.2 per cent down on November 2019.

Accumulated casino sales for first 11 months of 2020 stand at KRW186.02bn, down 57.9 per cent against the same period last year.

Grand Korea Leisure operates three foreigner-only casinos in South Korea under the Seven Luck brand: two in Seoul and one in Busan.

The two properties in the capital closed on November 24, initially until December 8. The Busan Lotte casino also closed from December 1 and will no reopen until at least December 15.

The group estimated the shutdowns will cost it KRW5.5bn (US$5m).