Grand Korea Leisure, one of South Korea’s two most prominent foreigner-only casino operators, reported a 1.7% year-on-year decline in casino revenue in May to KRW10.18 billion (US$9.2 million).
However the figure represented a 15.3% improvement on April sales – the second straight month of rising revenues after reopening its casinos in March.
GKL had closed all three of its casinos – Gangnam COEX and Gangbuk, Millenium Seoul Hilton in Seoul, and Seven Luck Casino Busan Lotte – in mid-December as the latest wave of COVID-19 spread across the country before reopening Busan in February. Its Seoul operations reopened a few weeks later.
Year to date, casino revenue at GKL’s casinos is down 78.9% to KRW25.47 billion (US$22.9 million).
May’s figures included table drop of KRW83.58 billion (US$75.3 million) – down 17.4% year-on-year but up 22.1% sequentially.
Fellow foreigner-only casino operator Paradise Co this week reported a 6.1% decline in sales in May when compared with April to KRW13.88 billion (US$12.5 million).
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