South Korea – Grand Korea Leisure sees 500 per cent improvement quarter to quarterBy Phil - 16 August 2021
Grand Korea Leisure, the South Korean foreigner-only casino operator, saw its revenues improve by 43.8 per cent, compared to last year’s second quarter results, with more than a 500 per cent sequential quarterly gain compared to the first quarter of 2021.
Second quarter casino revenue improved to KRW32.98bn (US$28.4m) as the company’s Gangnam COEX and Gangbuk, Millenium Seoul Hilton in Seoul and Seven Luck Casino Busan Lotte were able to operate throughout most of the quarter. They had all been forced to shut up shop from November 2020 until mid-March 2021.
The company reported a loss though of US$15.5m. For the first half of 2021, GGR was down 71.6 per cent to US$32.9m.