Korean casino operator Grand Korea Leisure (GKL) saw its casino sales surge in May. On Monday, Grand Korea Leisure said its casino sales for the month rose 16.7 percent year-on-year to about 40.59 billion won ($37.9 million).
On a month-over-month basis, casino sales rose 2.7% in May compared to April.
The year-on-year increase in casino sales was maintained by table game sales of 35.58 billion won during the month of May, up 21.8 percent. However, machine game sales fell 10.3 percent year-on-year to about 5 billion won, the company said in a filing with the Korea Exchange.
GKL is a subsidiary of the Korea Tourism Organization, which is affiliated with the Ministry of Culture, Sports and Tourism in Korea. The casino operator, under the Seven Luck brand, runs three foreigner-only casinos in Korea, two in the capital city of Seoul and one in the southern port city of Busan.
GKL’s casino sales in January-May 2018 were approximately KRW 2021.0 billion, up 3.6% year-over-year.
Table game sales rose 6.5% year-on-year to about 177.7 billion won in the January-May period. Machine game sales fell 13.7% to 24.36 billion won in the first five months.
The casino operator posted a 1% year-over-year drop in first-quarter net profit to about 17.35 billion won. 안전한 파워볼사이트
Securities firm JPMorgan Securities (Asia Pacific) said in a May note that GKL’s first-quarter gaming metrics were “slow” and that “VIP remains a weakness across all nationalities.”