GKL reports 72 percent decline in March sales

Grand Korea Leisure, operator of three foreigner-only casinos under the Seven Luck brand, has reported a sharp 72 percent year-on-year decline in its March sales.

The March figure came in at just short of KRW11.7 billion (about US$9.6 million), compared to more than KRW41.7 billion in March 2019.

The flagship Seoul Gangnam casino recorded a 74.4 percent fall, the Seoul Hilton Casino a 64 percent fall, and the smaller Busan Lotte Casino a 83.7 percent fall.

GKL suspended operations of its casinos on March 24, and they are currently scheduled to remain closed until April 20.

GKL managers have told the local media that they are trying to figure out various means to reduce operating losses during the period of Covid-19 related business suspension.