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Grand Korea Leisure August revenue drops by 76% year-on-year

Grand Korea Leisure (GKL), operator of foreigner-only casinos in South Korea, has announced its financial results for August.

SouthKoreaSeoul

The sales dipped again, despite the slight month-on-month improvement recorded in July when the group reported nearly 14% growth; August recorded a 10% decline compared to July. However, the casino’s revenue dropped by 76% year-on-year.

The sales for GKL in August were KRW12.76bn ($10.7m), compared to KRW14.19bn in July and KRW53.01bn that were earned in 2019. 

Table game revenue dipped by 77% compared to the previous year; it went from KRW47.85bn for August 2019 to KRW11.04bn, which is also a 5% drop compared to the month of July.

Total table game sales for the eight months was KRW140.85bn, a 50% drop from KRW280.38bn in 2019. Machine game sales were KRW1.72bn, a year-on-year decline of 67%, compared to KRW5.16bn; it was also a 32% dip compared to July.

Total machine game sales dropped by 52%, decreasing from KRW39.74bn to KRW19.17bn.

Total sales for the eight months of 2020 were KRW160.02bn, nearly half of KRW320.13bn that was earned for the same period in 2019. 

GKL currently runs three casinos in the country under the Lucky Seven brand.

South Korea currently is going through another spike of COVID-19 cases; and one casino in the country, Paradise City, has been closed again until 7 September when a worker tested positive. 


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