South Korea’s Grand Korea Leisure (GKL) experienced contrasting performance trends in May, with annual casino sales growth of 4 percent offset by a sharp monthly decline of 15.3 percent, according to regulatory filings submitted Wednesday to the Korea Exchange.
The foreigner-only casino operator generated KRW30.64 billion ($22.3 million) in total casino sales during May, demonstrating the volatile nature of the gaming sector’s recovery patterns.
Machine-game revenue emerged as the standout performer, climbing 24.1 percent year-on-year to nearly KRW3.53 billion ($2.6 million) while also posting monthly gains of 6.3 percent. In contrast, table-game operations showed more modest annual growth of 1.9 percent, reaching just under KRW27.11 billion, but suffered a substantial 17.5 percent monthly retreat.
Year-to-date performance through May showed stronger momentum, with cumulative casino sales advancing 12.5 percent to nearly KRW175.06 billion ($129.7 million). However, customer spending patterns revealed underlying challenges, as total chip purchases dropped 7.7 percent annually to approximately KRW1.44 trillion ($1.07 billion) in the first five months.
The government-affiliated operator manages three Seven Luck casino properties targeting international visitors across key South Korean destinations. Its Seoul operations include two facilities, with one strategically positioned in the upscale Gangnam area, while a third location serves the important port city of Busan.
Grand Korea Leisure operates under the Korea Tourism Organization umbrella, which maintains ties to the Ministry of Culture, Sports and Tourism, reflecting the government’s involvement in promoting tourism-related gaming activities.
