GGRAsia – Grand Korea Leisure casino sales up 15pct m-o-m in May ggrasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ggrasia.com Daily Mail and Mail on Sunday newspapers.
Grand Korea Leisure Co Ltd (GKL), an operator in South Korea of foreigner-only casinos under the Seven Luck brand, has told GGRAsia it plans to continue having two casino venues in the country’s capital Seoul, despite media reports that one of its current host venues there is to be sold and demolished for redevelopment.
The GKL person, who asked not to be identified by name, said the firm had been doing contingency planning since last year, based on the possibility that the Millennium Hilton Seoul hotel (pictured) would be sold off. The person added that GKL’s lease on the casino facility there ran until “December 31, 2022”.
Such sales were KRW8.83 billion (US$7.9 million) compared to KRW5.95 billion in March.
Sales in March had already taken a huge leap compared to those for February. The group’s Busan Lotte casino venue in the southern port city of Busan, had resumed its operations on February 15, after a period of closure.
Grand Korea reopened its Seven Luck-branded Seoul venues, Gangnam COEX, and Gangbuk Hilton (pictured) on March 15. Both properties had been shuttered since November 24 as a Covid-19 countermeasure.
Grand Korea Leisure’s table game sales for April this year were just under KRW7.27 billion, an increase of 46.0 percent on the KRW4.98 billion realised in March.
Gambling cash turnover in South Korea’s casino market for full-year 2020 fell by 64.5 percent from the prior-year period, according to data from the Ministry of Culture, Sports and Tourism, issued through its official website on Tuesday.
The fall coincided with a 71.3 percent decline year-on-year in the aggregate of visits to the properties: i.e., foreigner-only venues and the Kangwon Land resort, the only casino complex in the nation that is permitted to offer bets to locals.
The deterioration in attendance occurred at a time when the impact of the Covid-19 pandemic was felt on inbound tourism to South Korea and on the country’s casino operations, including capacity limitations and in some cases periods of temporary closure as a Covid-19 countermeasure.
GGRAsia – Grand Korea Leisure March casino sales leap m-on-m ggrasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ggrasia.com Daily Mail and Mail on Sunday newspapers.