Foreigner-only casino operator Grand Korea Leisure (GKL) saw its casino revenues rebound again in July, rising 6.9% year-on-year and 12.0% sequentially to KRW41.7 billion (US$29.1 million).
The improvement, which came despite a 4.1% year-on-year fall in drop amount to KRW325.2 billion (US$227 million).
July saw table games revenue grow by 7.6% year-on-year and 14.2% quarter-on-quarter to KRW38.0 billion (US$26.5 million), while machine revenue rose by 0.4% year-on-year but fell 6.6% quarter-on-quarter to KRW3.66 billion (US$2.55 million).
For the first seven months of the year, GKL’s casino revenue increased by 8.0% to KRW268.9 billion (US$188 million).
GKL is a partially government-owned, publicly traded company of which a majority 51% stake is held by the Korea Tourism Organization (KTO) – a state-owned entity under the Ministry of Culture, Sports and Tourism. The remaining 49% is held by public investors, including institutional and retail shareholders.
The company operates three casinos in South Korea in Seoul and Busan under the Seven Luck brand.
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