November sales drop 50% in South Korea’s foreigner-only casinos
Grand Korea Leisure Co Ltd (GKL), operator of South Korea’s foreigner-only casinos, reported November sales to be KRW5.49bn ($5m), a 50% drop from October’s sales and 88% year-on-year decline.
Table game revenue was KRW4.09bn, a 55% drop from KRW9.16bn in October. Machine game sales were KRW1.40bn, a 28% decline from the previous month and a 70% year-on-year drop from KRW4.69bn in November 2019.
Casino revenue was KRW61.95bn ($56.7m) and sales for the first 11 months were KRW186.02bn, a 58% decline from KRW441.58bn reported for the same period in 2019.
GKL operates three casinos under the Seven Luck brand, two in Seoul and one in Busan. Currently, all of the casinos are closed due to increasing cases of COVID-19. It’s predicted the casino operations will remain suspended until at least mid-December.
Another foreigner-only casino operator, Paradise Co earned KRW9.75bn in sales for November, a 56% drop from October and 85% year-on-year decline. The operator’s casinos remained open, with implemented social distancing and capacity restrictions.
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