Korean foreigner-only casino operator Grand Korea Leisure (GKL) has reported a 49.4% sequential increase in casino sales to KRW34.76 billion (US$31.1 million) in the three months to 30 September 2020, improved from KRW23.26 billion (US$20.8 million) in 2Q20.
The improvement comes after GKL’s two casinos in Seoul and one in Busan under its Seven Luck brand were all closed throughout April, eventually opening their doors on 6 May but showing fluctuating results since due to a lack of international travel and reliance on local expats.
Casino sales in 3Q20 were down 73.9% year-on-year.
While sales for the quarter were vastly improved, net profit was slightly down to KRW29.15 billion (US$26.1 million) with income attributable to owners of the company up just 3.3% to KRW22.78 billion (US$20.4 million).
Income through the first nine months of 2020 was a loss of KRW31.62 billion (US$28.3 million), with casino sales down 52.9% to KRW169.58 billion (US$151.8 million).
