Grand Korea Leisure casino sales up 215.4% in May

Grand Korea Leisure has reported casino sales of KRW18.21bn (US$14.7m) in May, up 215.4 per cent month-on-month.

South Korea.- Grand Korea Leisure (GKL) has reported that casino sales rocketed by 215.4 per cent month-on-month in May from KRW5.77bn (US$4.6m) to KRW18.21bn (US$14.7m). Sales were up 78.9 per cent year-on-year.

The company reported that table game revenue was up 332.0 per cent month-on-month and 95.7 per cent year-on-year at KRW16.18bn. Slot machine revenue reached the same figure as last month, KRW2.03bn – up 6.2 per cent year-on-year. The casino drop was up 32 per cent month-on-month and 65.9 per cent year-on-year to KRW138.63bn.

Grand Korea Leisure has posted sales of KRW70.28bn for the first five months of the year, up 175.9 per cent when compared to last year. During the first five months of the year, casino drop was up 166.3 per cent year-on-year to KRW532.20bn. The company attributed the results to an easing of some Covid-19 countermeasures in South Korea.

The South Korean operator of foreigner-only casinos recorded KRW46.30bn in net casino sales for Q1. The figure was up 612.3 per cent when compared to the prior-year period. The company reported a first-quarter net loss of KRW10.80bn (US$8.5m) and an operating loss of KRW42.29bn. 

Authorities in South Korea began to allow the entry of foreign tourists from June 1. Independent travellers can enter through C-3 visas and groups via eVisa, which had been suspended since April 2020.