S. Korea’s casino op GKL sales drop sequentially in August

Casino sales at Grand Korea Leisure Inc. (GKL) fell 19.9% month-on-month to nearly 22.91 billion won ($16.7 million) in August, it said in a filing with the Korea Exchange on Monday.

In the recently reported month, table game sales fell 22.0 percent sequentially to W20.35 billion. Machine game sales rose 1.5 percent month-on-month, just under W2.56 billion.

Casino sales rose 160.2% year over year in August this year, the company said. Table game sales were up 182.3% from August 2021, while machine game sales were up 60.4%.

The company did not comment on the two reasons for the changes.

Accumulated casino sales for the year to Aug. 31 were 146.25 billion won, up 158.1% year-over-year.

South Korea’s tourism market has eased entry procedures for foreigners from certain places to recover from COVID-19-related disruptions.

Grand Korea Leisure is a subsidiary of the Korea Tourism Organization and is affiliated with the Ministry of Culture, Sports and Tourism.

The casino operator operates three foreigner-only casinos in Korea under the Seven Luck brand. There are two in the capital city of Seoul and one in the southern port city of Busan.

In August, GKL reported a net loss of 7.99 billion won in the second quarter, down slightly from 10.78 billion won in the previous quarter and 18.06 billion won in the previous year.

BY: 릴게임

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