Grand Korea Leisure saw its sales drop again in August from the prior month after showing signs of a month-on-month improvement in July.
Sales at the company’s foreigner-only casinos were down 75.9 percent from the same month the prior year and 10.1 percent from July, when sales had gained 13.7 percent in June.
The country is battling yet another spike in Covid-19 cases, with fellow casino operator Paradise Co. having shuttered its Paradise City casino near the international airport at Incheon until at least Sept. 7th after a staff member tested positive for the virus.
Total August sales were KRW12.76 billion ($10.7 million).
Table-game revenue was down 76.9 percent from the prior year and 5.4 percent from July at nearly KRW11.04 billion. Machine sales for the month fell 31.9 percent from July and 66.7 percent from the prior year.
GKL operates casinos under the Seven Luck brand in Seoul and Busan.
For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines. The country’s casino industry has been among the hardest hit in Asia, with the integrated resorts in Manila’s Entertainment City having remained mostly closed to the general public since the beginning of the crisis last year.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.