South Korean foreigner-only casino operator Grand Korea Leisure reported its highest monthly casino sales figure in two years in March, with sales rising by 334% month-on-month to KRW29.73 billion (US$24.5 million).
The increase, also 400% higher than March 2021, preceded the reopening of Korea’s international borders from 1 April 2022 with tourists no longer needing to quarantine for seven days.
Figures published with the Korea Exchange on Monday show that the impressive March sales were driven by table games which reported a 409% sequential and 461% year-on-year improvement to KRW27.93 billion (US$23.0 million). EGM sales increased by 33% month-on-month to KRW1.80 billion (US$1.5 million).
Table drop was also up 55% in March to KRW127.96 billion (US$105.4 million).
For the first three months of 2022, casino sales are up 617% to KRW46.29 billion (US$38.1 million) with table drop 503% higher than in 1Q21 at KRW288.55 billion (US$237.7 million).
GKL operates three casinos in South Korea – Gangnam COEX and Gangbuk Millenium Seoul Hilton in Seoul, and Seven Luck Casino Busan Lotte.
The company previously reported a loss attributable to shareholders of the parent company of KRW34.38 billion (US$28.7 million) in 4Q21, slightly wider than the KRW32.71 billion (US$27.3 million) loss reported a year earlier and 47% more than the KRW23.41 billion in Q3 (US$19.5 million).
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