Grand Korea Leisure (GKL) saw its August casino sales fall 11.3 percent year on year and 25.4 percent from July to KRW31.11 billion ($22.9 million), despite an increase in casino drop.
Casino drop reached KRW341.40 billion ($251.7 million), up 7.2 percent from a year earlier and 5.0 percent sequentially, according to a Korea Exchange filing released on Thursday.
Table-game sales declined 10.8 percent year on year to KRW27.81 billion ($20.5 million), while machine-game sales fell 15.4 percent to KRW3.30 billion ($2.4 million).
Supplementary operating data published on GKL’s website showed that Japanese VIP drop increased 16.4 percent year on year, while Chinese VIP drop grew 19.6 percent.
All three Seven Luck properties reported lower casino sales from a year earlier. Seoul Dragon City generated KRW12.85 billion ($9.5 million), down 10.0 percent year on year and 2.0 percent from July.
Gangnam recorded KRW12.41 billion ($9.1 million), down 13.3 percent year on year and 43.1 percent sequentially. Busan sales fell 9.9 percent year on year to KRW5.85 billion ($4.3 million).
Despite the August decline, casino sales for the first eight months rose 5.6 percent to KRW299.97 billion ($221.1 million). The cumulative drop increased 10.5 percent to approximately KRW2.65 trillion ($1.95 billion).
GKL, a subsidiary of the Korea Tourism Organization, operates two foreigner-only casinos in Seoul and one in Busan under the Seven Luck brand.
