Grand Korea Leisure (GKL), a South Korean operator of foreigner-only casinos, has reported a decline in casino sales for February. GKL reported a 5.5 percent decline in casino revenue sequentially to KRW32.45 billion (US$22.5 million). This marks 3.6 percent year-on-year decline.
In February 2025, table-game revenue totalled KRW29.99 billion. This marked a 3.8 percent drop year-on-year, and a 4.5 percent decline compared to the previous month. Machine game sales, on the other hand, amounted to KRW2.46 billion with a 1.4 percent decrease year-on-year and a sharp 19.11 percent decline from January. For the month, table drop fell by 2.1 percent compared to January to KRW261.2 billion.
For the first two months of 2025, casino revenue accounted for KRW66.8 billion, up 25.4 percent from the same period last year. Looking at GKL’s full-year results for 2024, the company reported casino sales of KRW393.61 billion, marking a slight 0.9 percent decline from 2023. GKL operates three foreigner-only casinos under the Seven Luck brand, two of which are located in Seoul, including one in the bustling district of Gangnam. The third casino is situated in the southern port city of Busan, a key tourism hub for both domestic and international visitors.
January figures
In January, the operator has reported a decline in casino sales for January. GKL reported an 11.3 percent decline in casino revenue sequentially to KRW34.34 billion. However, the January casino sales were up 75.3 percent year-on-year. Meanwhile, table games continued to contribute majorly to the casino revenue, coming in at KRW31.41 billion. This marked a monthly fall of 11.9 percent. However, sales from table games were up 90.3 percent from the corresponding period last year.
For the month, machine-game sales were KRW2.93 billion, down 4.3 percent from December last year. They were also lower 5.1 percent from a year ago. GKL operates three foreigner-only casinos in South Korea, Seoul and Busan under the Seven Luck brand. GKL is a subsidiary of the Korea Tourism Organisation, which is affiliated to the country’s Ministry of Culture, Sports and Tourism. In January, GKL’s three casinos registered an aggregate casino sale of KRW266.71 billion, a decline of 3.2 percent sequentially and 12.1 percent lower than a year ago, said the company in its Tuesday filing.
In November 2024, GKL appointed a new president, Yoon Doo Hyun, who served in South Korea’s National Assembly. His experience also involves working as senior secretary for public relations at the Office of the President between 2014 and 2015.
