Grand Korea Leisure reports strong April growth with casino sales hitting US$27.6m

(AsiaGameHub) –   Grand Korea Leisure (GKL), one of South Korea’s foreigner-only casino operators, delivered strong performance in April, with casino revenues rising 11.1% year-on-year and 25.7% month-on-month to KRW 40.2 billion (US$ 27.6 million).

Table games were the primary driver of growth, generating revenues up 12.7% to KRW 37.0 billion (US$ 25.4 million). In contrast, machine gaming revenues declined by 4.6% to KRW 3.16 billion (US$ 2.2 million).

Table drop increased 20.5% compared to the previous year, reaching KRW 345.7 billion (US$ 238 million), while it rose 1.9% from March.

In Q1 2016, total casino revenues grew by 1.7% to KRW 146.8 billion (US$ 101 million), primarily due to higher machine gaming revenues during the period.

The Korean government holds a 51% stake in GKL through the Korea Tourism Organization under the Ministry of Culture, Sports and Tourism, with the remaining shares publicly traded.

GKL operates three foreigner-only casinos under the Seven Luck brand, located in Seoul and Busan.

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