GGRAsia – GKL Nov casino sales up 33pct y-o-y to US$26mln

Casino sales in November at Grand Korea Leisure Co Ltd (GKL), an operator in South Korea of foreigner-only casinos, rose by 21.1 percent month-on-month, to approximately KRW36.98 billion (US$26.4 million), according to an update filed to the Korea Exchange on Tuesday.

Measured year-on-year, Grand Korea Leisure’s November casino sales were up 32.6 percent.

In November, table-game sales were nearly KRW33.74 billion, up 21.4 percent sequentially, and 35.6-percent higher than a year earlier.

Machine-game sales in November were nearly KRW3.25 billion, up 18.7 percent from October and a 7.8-percent increase from a year ago.

The November operational results took Grand Korea Leisure’s aggregate casino sales for the first 11 months this year to KRW354.91 billion, a decline of 2.1 percent year-on-year.

Grand Korea Leisure runs three foreigner-only Seven Luck-branded casinos: two in the capital Seoul, including in Gangnam, and one in the southeastern port city of Busan.

The company is a subsidiary of the Korea Tourism Organization, which in turn is affiliated to the country’s Ministry of Culture, Sports and Tourism.

The hold ratio across each of Grand Korea Leisure’s casinos in November improved from the prior month, said the firm in a separate deck with additional operational data. The firm’s consolidated hold ratio for all of its gaming venues stood at 12.8 percent in November, compared to 9.8 percent in October and 10.1 percent a year ago.

In the 11 months to November 30, Seoul Gangnam Casino was the largest contributor to group-wide casino sales, showed the data. Seoul Gangnam Casino generated approximately KRW160.36 billion in casino sales in the January to November period, while Seoul Dragon City Casino recorded KRW141.39 billion in revenue. The Busan Lotte Casino reported sales of KRW53.16 billion in the first 11 months of 2024.