State-backed Grand Korea Leisure has reported KRW14.2 billion (US$11.9 million) in total sales for the month of July. This compared to KRW41.1 billion in the same period in 2019, representing a 65 percent year-on-year decrease.
However, compared to the KRW12.5 billion recorded in June, the sales figure represented a recovery of 13.6 percent.
By location, the July 2020 sales figures were KRW7.2 billion at the Seoul Gangnam Casino, KRW6.2 billion at the Seoul Hilton Casino, and KRW779 million at the Busan Lotte Casino.
Grand Korea Leisure operates these three foreigner-only casinos under the Seven Luck brand. Due to the Covid-19 crisis, the firm’s casinos had completely suspended operations for a period between March and May.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.