One month after seeing its casino sales soar by 334% month-on-month, South Korean foreigner-only casino operator Grand Korea Leisure came crashing back to earth in April with casino sales falling 80.6% sequentially to KRW5.77 billion (US$4.6 million).
The April figure was also 34.6% lower than April 2021, when GKL reported casino sales of KRW8.83 billion (US$7.1 million).
No reason was given for the monthly decline, which ironically came after Korea had dropped a requirement for international arrivals to quarantine for seven days as of 1 April 2022.
According to a filing with the Korea Exchange, GKL saw table game sales fall 86.6% in April to KRW3.75 billion (US$3.0 million) while machine sales increased by 12.5% to KRW2.03 billion (US$1.6 million).
Table drop for the month fell 17.9% compared with March to KRW105.02 billion (US$83.9 million).
For the first four months of 2022, casino sales are still up 240.5% to KRW52.07 billion (US$41.6 million) with table drop up 238.6% to KRW393.57 billion (US$314.4 million).
GKL operates three casinos in South Korea – Gangnam COEX and Gangbuk Millenium Seoul Hilton in Seoul, and Seven Luck Casino Busan Lotte.