South Korean casino operator Grand Korea Leisure (GKL) reported a 49.7 percent yearly surge in net profit to KRW16.96 billion ($12 million) for the second quarter ending June 30th, 2025, driven by strong casino performance and improved profit margins at its foreigner-only gaming venues.
The quarterly result marked a significant improvement from KRW11.34 billion ($8.19 million) in the same period last year and a 5.3 percent increase from the previous quarter. Operating profit reached KRW15.96 billion ($11.3 million), up 20.8 percent year-on-year but down 20.9 percent from the first quarter of 2025.
Group-wide sales totaled KRW100.94 billion ($71.4 million) in the three months to June 30th, representing a 2.1 percent increase from the prior-year period. However, sales declined 8.1 percent sequentially from the previous quarter, according to a Korea Exchange filing released Thursday.
The company, which operates three casino properties exclusively for foreign visitors in Seoul and Busan, attributed much of its success to exceptional gaming results at its flagship Gangnam Coex location in Seoul. Despite a 13.3 percent drop in casino drop to KRW450.8 billion ($318.9 million), the venue achieved a significant 79.6 percent increase in casino net sales to KRW64.3 billion ($45.5 million).
The strong second-quarter performance lifted GKL’s first-half net profit to KRW33.06 billion ($23.4 million), up 53.6 percent year-on-year. Interim sales for the six-month period reached KRW210.81 billion ($149.1 million), a 7.1 percent increase from the comparable period in 2024.
Shareholders will benefit from the improved performance, with GKL announcing an interim dividend of KRW60 ($0.045) per share in a separate Thursday filing. The total dividend distribution of KRW3.71 billion ($2.6 million) is scheduled for payment on September 5th, 2025.
