Grand Korea Leisure posts casino sales of US$25.3m for August

Grand Korea Leisure Co’s casino sales were up 7.3 per cent month-on-month.

South Korea.- Grand Korea Leisure (GKL) has shared its financial results for August. The company posted casino sales of KRW33.39bn (US$25.3m). Sales were up 45.8 per cent from the prior-year period. Just over KRW14.72bn was generated by Seoul Gangnam Casino and KRW14.3bn by Dragon City Casino.

Table-game sales were up 8.6 per cent in month-on-month terms, from KRW27.8bn (US$2.11bn) to KRW30.19bn (US$22.9m). The figure was up 48.4 per cent when compared to last year. Machine game sales were down 3.7 per cent month-on-month but up 25.3 per cent year-on-year at KRW3.21bn (US$2.4m).

For the first eight months of the year, Grand Korea Leisure has reported casino sales of KRW272.56bn, a rise of 86.4 per cent compared to the same period last year. The casino firm recorded a cumulative drop of KRW2.13tn, up 107.1 per cent year-on-year. The drop in August totalled KRW293.33bn, up 50.2 per cent from a year ago and up 19.1 per cent from July. Of that, KRW199.97bn was for VIP table games, KRW65.73bn for mass table games and KRW27.63bn from slots.

For the second quarter, the company reported a 60.3 per cent sequential decline in net profit from KRW21.60bn (US$16.3m) to KRW8.58bn (US$6.5m). Profit for the first half totalled KRW30.18bn, compared to a net loss of KRW18.77bn last year.