GKL reports April sales increased by 48%

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Grand Korea Leisure GKL

Grand Korea Leisure, a South Korean operator of foreigner-only casinos, reported a 48 percent increase in casino sales in April compared to March. However, this is still an 86 percent drop from the previous year. Total sales were KRW8.8 billion ($7.8 million), up from KRW5.95 billion in March. In April, table games brought in KRW7.27 billion, up 46 percent from KRW4.98 billion the previous month. Machine game sales increased by 61% month over month, from KRW972 million in March to KRW1.56 billion in April.

Total casino sales for the first four months of the year were KRW15.29 billion, down 86 percent from the previous year’s KRW110.23 billion. Total revenue from table games was KRW12.66 billion for the period, down 87 percent from KRW99.62 billion for the same period in 2020. In addition, machine game sales fell 75% year over year in the first four calendar months, from KRW10.61 billion to KRW2.63 billion.

The resumption of work at the company’s casinos is responsible for the increase in sales. Despite setbacks during the pandemic, South Korea’s casino industry is trying to move forward. According to Asia Gaming Brief, despite the lack of backing from any established gaming firm after Caesars Entertainment left the project, an IR project in Midan City, Incheon, resumed construction in mid-March.

 

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Nassima Azmzm

Nassima Azmzm

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