Grand Korea Leisure revenue down 55.9% in November

Grand Korea Leisure (GKL) has reported a 55.9 per cent decline in revenue month-on-month, to KRW4.1bn (US$3.5m).

South Korea.- The South Korean operator of foreigner-only casinos Grand Korea Leisure (GKL) has reported that revenue was down 55.9 per cent in November when compared to the previous month. The figure was also down 25.4 per cent year-on-year. Revenue mainly came from its Seoul Hilton Casino, which generated KRW5bn.

The Busan Lotte Casino reported KRW687,000 in revenue in November. The Seoul Gangnam Casino recorded a loss of KRW1.5bn mainly due to a loss registered in table games.

Overall table games revenue was down 68.1 per cent month-on-month, from KRW7.67bn to KRW2.45bn, and down 40.1 per cent year-on-year. Machine game sales were up 2.5 per cent month-on-month from KRW1.60bn to KRW1.64bn, and up 17.5 per cent year-on-year.

GKL has registered KRW79.45bn in casino sales for the first eleven months of the year, down 57.3 per cent year-on-year. 

It’s previously been reported that some casinos in South Korea have been allowed to delay the payment of some Tourism Promotion and Development Fund fees until June 2022 due to the difficulties the industry continues to face due to the Covid-19 pandemic.