Korean casino operators Paradise Group and Grand Korea Leisure have enjoyed a positive November with the two foreigner-only firms reporting year-on-year growth of 31.6% and 8.2% respectively.
Paradise, which operates four casinos in Korea – Paradise Walker-hill, Jeju Grand, Busan Casino and Paradise City – saw its November GGR grow to KRW67.27 billion, driven by a 35.0% increase in table game revenue to KRW63.33 billion. While that figure was aided by good luck, given table drop actually decreased by 1.7% compared with November 2018 to KRW511.40 billion, it still managed to push Paradise’s casino revenue for the first 11 months of the year to KRW714.0 billion – up 23.0% year-on-year.
Meanwhile, Grand Korea Leisure Co. Ltd (GKL), Korea’s government run, foreigners-only casino operator, saw casino sales increase 8.2% year-on-year to KRW45 billion in November, also driven by strong growth in table games revenue.
The November results represented a 23.4% improvement over October numbers, with table game sales up 9.2% to KRW40.31 billion. GKL’s yearly casino sales through November are down 1.1% to KRW 441.58 billion.
GKL, a subsidiary of the Korea Tourism Organization, operates two casinos in Seoul and one in Busan under its Seven Luck brand.