South Korean foreigner-only casino operator Grand Korea Leisure (GKL) saw its revenues continue to rise in March, with casino revenue up 30.2% year-on-year and 5.2% month-on-month to KRW38.7 billion (US$29.6 million).
According to information filed with the Korea Exchange, GKL’s March result was driven by a 28.1% year-on-year improvement in table games revenue to KRW35.8 billion (US$27.4 million) and a 62.0% increase in machine revenue to KRW2.92 billion (US$2.23 million).
For the first three months of 2023 combined, casino revenue has KRW107.6 billion (US$82.2 million), representing a 132.3% increase over the same period last year.
Drop amount in March was also up 112% year-on-year and 29.7% sequentially to KRW271.8 billion – pushing the 1Q23 total to KRW753.8 billion, up 161% over the first three quarters of 2022.
The improved results for GKL, which runs three casinos in Seoul and Busan under the Seven Luck brand, came after Korean authorities last month dropped a requirement for all visitors from mainland China, Hong Kong or Macau to obtain a negative COVID-19 test result prior to their arrival in South Korea.
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