• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 24 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Win rates rising for Grand Korea Leisure but major decline in February visitation points to coronavirus impact

Ben Blaschke by Ben Blaschke
Mon 2 Mar 2020 at 17:06
Win rates rising for Grand Korea Leisure but major decline in February visitation points to coronavirus impact
18
SHARES
430
VIEWS
Print Friendly, PDF & Email

South Korean casino operator Grand Korea Leisure (GKL) saw its net sales increase by 38.1% to KRW43.96 billion in February, but rather than painting a rosy picture of recovery the improvement was instead due entirely to an artificially favorable year-on-year hold comparison.

It was the first quarter of 2019 when GKL implemented an aggressive promotion strategy in the VIP and premium mass segments which created a significant boost in table drop but severely hurt win rate and margins, resulting in a 47% fall in profit to its lowest level in seven years.

That promotion strategy has since been scrapped, allowing hold to rise steadily over the past three months to a high of 15.5% in February versus just 8.9% a year earlier.

More telling is GKL’s sequential comparison, with table drop declining 26.3% to KRW284.30 billion and net sales by 19.5% to KRW43.96 billion versus January.

GKL didn’t provide any reason for the decline, although it is likely the mass outbreak of coronavirus across South Korea over the past two weeks played its part with visitation plummeting to just 77,695 from 126,191 in February 2019 and 120,668 in January 2020. Similar levels of decline were experienced across all three of the company’s casinos – Seoul Gangnam Casino, Seoul Hilton and Busan Lotte – and across all gaming segments.

VIP table drop fell 23.4% sequentially to KRW189.88 billion and mass by 31.3% to KRW68.43 billion.

Nevertheless, GKL has so far resisted the temptation to follow the lead of Kangwon Land and temporarily close casino operations. Unique in Korea as the only casino in which locals are allowed to gamble, Kangwon revealed on Friday that it will remain closed for at least two full weeks after shutting its doors on 23 February to prevent the spread of coronavirus.

Share8Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

Asia market roundup

INSPIRE targets Chinese market with launch of new WeChat Mini Program

by Newsdesk
Wed 24 Sep 2025 at 09:59

Korea’s INSPIRE Entertainment Resort has launched a WeChat Mini Program aimed at providing a more convenient and seamless digital service experience for visitors to the property from China. Strategically introduced ahead of the upcoming October National Day Golden Week holiday,...

Macau’s DICJ oversees successful closure of Melco Resorts satellite Grand Dragon Casino

Macau’s DICJ oversees successful closure of Melco Resorts satellite Grand Dragon Casino

by Newsdesk
Wed 24 Sep 2025 at 05:37

Macau’s Gaming Inspection and Coordination Bureau (DICJ) confirmed Tuesday that Grand Dragon Casino – the satellite casino operated under the license of Melco Resorts & Entertainment – had successfully completed its permanent closure. In a statement, the DICJ said it...

Paradise Co to pay US$151 million to acquire Grand Hyatt Incheon West Tower near Paradise City

Paradise Co to pay US$151 million to acquire Grand Hyatt Incheon West Tower near Paradise City

by Newsdesk
Wed 24 Sep 2025 at 05:15

Korea’s leading foreigner-only casino operator, Paradise Co, will pay KRW210 billion (US$151 million) to acquire the Grand Hyatt Incheon West Tower from KAL Hotel Network. Located just a few minutes by foot from the company’s Paradise City integrated resort, the...

568Win: Asia’s Top Platform Provider and Game Aggregator

568Win: Asia’s Top Platform Provider and Game Aggregator

by Newsdesk
Wed 24 Sep 2025 at 04:22

CLIENT PROMOTION 568Win is a verified and authorized partner of SBOBET, a trusted name in the iGaming industry with more than 20 years of hands-on experience. While SBOBET is widely recognized for its global Sportsbook, 568Win focuses on expanding the...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語